US stocks close lower but post strong first-quarter gains

iStock/Thinkstock(NEW YORK) — Wall Street closed lower Friday, but with weekly and quarterly highs.

The Dow Jones Industrial Average fell 65.27 (-0.31 percent) to finish at 20,663.22. This quarter, the Dow gained 4.6 percent.

The Nasdaq slid 2.61 (-0.04 percent) to close at 5,911.74, while the S&P 500 finished at 2,362.72, down 5.34 (-0.23 percent) from its open. The Nasdaq and S&P 500 jumped about 10 percent and 5.5 percent respectively this quarter.

Crude oil prices were over $50 a barrel; nearly 1 percent higher.

Winners and Losers: Shares of Akari Therapeutics PLC soared 58 percent after the Food and Drug Administration granted its treatment of paroxysmal nocturnal hemoglobinuria (PNH) a Fast Track designation.

Acorda Therapeutics lost a patent ruling for its multiple sclerosis drug Ampyra, causing shares to tumble about 21.5 percent.

BlackBerry Limited reported higher-than-expected sales and adjusted profit in the fourth quarter. The wireless company’s stock closed 11.5 percent higher.

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