Concerns about oil’s continuing slump and political tensions in Greece and Italy helped send U.S. stocks down sharply, contributing to a 1 percent decline in the WWD Global Stock Tracker.
The tracker landed at 105.62, putting its decline for the week at 2.3 percent. Meanwhile, the Dow Jones Industrial Average shed 315.51 points, or 1.8 percent, to end the week at 17,280.83 and put its decline at 3.8 percent for the week, its worst since 2011. The S&P 500 gave back 33 points, or 1.6 percent, to close the session at 2,002.33 and set its weekly decline at 3.5 percent.
The steepest selloff among tracker stocks came from Hermès International SCA, down 6.2 percent to 275.25 euros, or $341.61 at current exchange, followed by Yoox.com’s 5.2 percent slide to 17.79 euros, or $22.08. Hugo Boss AG shares were off 4.5 percent to 100.70 euros, or $124.98, while two stocks traded in Hong Kong rounded out the five worst declines. Dickson Concepts was down 4.1 percent to 3.74 Hong Kong dollars, or 48 cents, while Li Ning Co. dropped 4 percent to 3.33 Hong Kong dollars, or 43 cents.
Kering, which earlier in the day said that Gucci chief executive officer Patrizio di Marco and creative director Frida Giannini would be leaving the firm, saw its shares descend 2 percent to 155.65 euros, or $193.18.
The largest advance by far for the day among tracker stocks came from Quiksilver Inc., shares of which rose 29.1 percent to $1.91 after a late Thursday report in which it divulged a smaller fourth-quarter loss and said it expects to see gains in sales in 2015 after a substantial decline in 2014.
J.C. Penney Co. Inc. logged the second biggest gain, rising 4.8 percent to to $6.38, while The Bon-Ton Stores Inc. was up 4.3 percent to $7.23.
Lululemon Athletica Inc. enjoyed another strong day after a positive earnings report on Thursday, with shares up 3.9 percent to $52.96, and Ann Inc. was up the same percentage, closing out the week at $37.37.