Markets immediately declined on Friday afternoon after Michael T. Flynn, President Trump's former national security adviser, pleaded guilty to lying to the FBI about a conversation he had with the Russian ambassador Sergey Kislyak a year ago this month.
As a result, investors fled to safe haven assets amid continued uncertainty. Gold prices gained immediately following the report, up 0.85% to $1287.50 per troy ounce Friday afternoon.
The Dow Jones Industrial Average was down 0.49%, or about 120 points. The S&P 500 Index fell 0.71% and the Nasdaq declined 1.16%.
The energy sector was the only one rising Friday after OPEC and Russia agreed to extend production cuts through 2018. WTI crude futures gained 1.72% to $58.39 per barrel, and the Energy Select Sector SPDR ETF (XLE) - Get Report gained 0.9%.
More of What's Trending on TheStreet: