U.S. stocks dropped sharply on Friday, sending the Dow industrials to their lowest close since October, as a rally spurred by the Federal Reserve’s decision to raise interest rates faded and oil prices tumbled anew.

The blue-chip index dropped 367.39 points, or 2.1%, to 17128.45, marking its lowest closing level in about two months.

The S&P 500 declined 1.8% and the Nasdaq Composite dropped 1.6%.

Bond yields fell as investors snapped up assets seen as havens, including U.S. government debt and gold. Sectors linked to economic growth posted steep declines, while an options expiration was expected to drive volume and volatility into the closing bell.

Read the article “Stocks End the Week with a Skid” on wsj.com.