U.S. stocks closed lower, extending a slump that left Wall Street with its worst week since April.

The S&P 500 fell 0.7 percent Friday, its third straight drop since setting a record high on Tuesday.

The Dow Jones Industrial Average sank 0.9 percent, and the Nasdaq composite lost 0.8 percent.

The losses came as businesses around the world scrambled to contain the effects of a disruptive technology outage.

Cybersecurity firm CrowdStrike sank after saying the issue believed to be behind the global outage affecting flights, banks and medical offices lay in a faulty update sent to computers running Microsoft Windows.

On Friday:

The S&P 500 fell 39.59 points, or 0.7 percent, to 5,505.

The Dow Jones Industrial Average fell 377.49 points, or 0.9 percent to 40,287.53.

The Nasdaq composite fell 144.28 points, or 0.8 percent, to 17,726.94.

The Russell 2000 index of smaller companies fell 13.94 points, or 0.6 percent, to 2,184.35.

For the week:

The S&P 500 is down 110.35 points, or 2 percent.

The Dow is up 286.63 points, or 0.7 percent.

The Nasdaq is down 671.51 points, or 3.6 percent.

The Russell 2000 is up 36.13 points, or 1.7 percent.

For the year:

The S&P 500 is up 735.17 points, or 15.4 percent.

The Dow is up 2,597.99 points, or 6.9 percent.

The Nasdaq is up 2,715.59 points, or 18.1 percent.

The Russell 2000 is up 157.33 points, or 7.8 percent.

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