NEW YORK, April 16 (UPI) -- News of fraud charges filed against Goldman Sachs sent the major U.S. stock indexes tumbling Friday on the New York Stock Exchange.
The Dow Jones industrial average fell 125.91 points, or 1.1 percent, to close at 11,018.66 points. For the week the Dow rose 0.2 percent.
The Nasdaq composite index was off 34.43 points, or 1.37 percent, to finish the day at 2,481.26 points.
The Standard & Poor's 500 finished the day at 1,192.13 points, down 19.54 points, or 1.61 percent.
The U.S. Securities and Exchange Commission filed a civil suit against Goldman Sachs, alleging it sold securities that were stacked against the buyer. At the heart of the complaint, the SEC said Goldman Sachs sold mortgage securities that included bonds selected by John Paulson, a hedge fund manager who made billions of dollars betting against the housing market, The New York Times reported.
"All the financial sector stocks are getting hit because investors don't know how broad-based this will be," Tim Speiss, head of personal wealth advisers at Eisner LLP, told The Wall Street Journal.
The U.S Treasury 10-year note rose to yield 3.76 percent.
The listed volume on the New York Stock Exchange was 8.10 billion shares.
The euro fell to $1.3509 from Thursday's $1.3579. Against the yen, the dollar fell to 92.119 yen from Thursday's 93.06 yen.
In Japan, the Nikkei 225 index lost 1.52 percent, 171.61, to 11,102.18.
In Britain, the FTSE 100 index lost 1.39 percent, 81.05, to 5,743.96.