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US stocks lose more ground after Fed remarks US markets shrug off Brexit worries
(about 7 hours later)
(Open): Wall Street markets opened sharply lower, building on the previous session's losses. (Close): Wall Street closed higher on Thursday as oil shares climbed while crude prices fell.
Nerves were unsettled after Thursday's warning of a slowdown in economic growth from the Federal Reserve. The Dow Jones Industrial Average climbed 92.93 points to 17733.10. The wider S&P 500 index was 6.49 points higher at 2077.99.
The Fed also expressed concern about the UK's possible exit from the European Union. The tech-heavy Nasdaq rose 10.51 to 4844.91.
The Dow Jones Industrial Average was down 140 points at 17,500.02 - 0.8%. The wider S&P 500 index lost 17.62 to 2,053.88. Biotech companies were the big movers on the Nasdaq. Exact Sciences Corp climbed over 20% and Advanced Micro Devices rose 7.4%.
The tech-heavy Nasdaq lost 38 points to 4,796.87. Shares of pharmaceuticals firm Merck were 2.5% higher.
Boeing led the losers on the Dow, falling 2.5%. Exxon Mobile was up 1.2% and Chevron moved up 0.44%.
US crude prices fell 3.9% to $46.12 per barrel and Brent crude was 3.7% lower at $47.17 a barrel.