Fri, Aug 9, 2013 6:55 PM EDT 0:50
Stocks fell on Friday and posted their biggest weekly decline since June as investors focused on when the Federal Reserve would begin to scale back its stimulus. All but one of the 10 S&P 500 sector indexes ended lower. President Barack Obama is still considering several candidates for the chairmanship of the Federal Reserve and will announce his decision in the coming months. President Barack Obama said that Lawrence Summers and Janet Yellen are both highly qualified people to be the next chair of the U.S. Federal Reserve, but stressed that they were not the only names being examined for this vital job.