U.S. stocks decline amid rate hike concerns

U.S. stocks ended lower after wavering in a tight range Friday, as investors kept cautious amid hawkish remarks on rate hikes from Federal Reserve officials.

The Dow Jones Industrial Average fell 45.13 points, or 0.24 percent, to 18,552.57. The S&P 500 lost 3.15 points, or 0.14 percent, to 2,183.87. The Nasdaq Composite Index edged down 1.77 points, or 0.03 percent, to 5,238.38.

San Francisco Fed President John Williams signaled support for a rate hike in the near future in a Thursday afternoon speech, according to Reuters.

In the context of a strong domestic economy with good momentum, it makes sense to get back to a pace of gradual rate increases, preferably sooner rather than later, he said.

New York Fed President William Dudley said Thursday the past two jobs reports "helped allay concerns that arose earlier this year that job growth was beginning to stall. Indeed, these reports reinforce my view that labor market conditions continue to improve."

Meanwhile, with no major economic data due out Friday, traders were still sifting through the Fed's minutes from its July meeting.

According to the minutes, some voting Federal Reserve policymakers expect that a U.S. interest rate increase will be needed soon, although there is general agreement that more data is needed before such a move.

For the week, the Dow fell 0.1 percent, and the S&P 500 edged down 0.18 point, or less than 0.1 percent, while the Nasdaq rose 0.1 percent. Enditem