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Wall Street had more than its fair share of worries this week.

Crude oil plumbed its lowest levels in more than a month as recent signs of weakening U.S. production began to fade. A possible "Brexit" threatened to shake the economic stability of the European Union. And no rate hike from the FederalReserve did the opposite of calming investors: instead, it highlighted that the U.S. economy might not be in ship-shape.

The laundry list of worries contributed to four out of five days in the red. Since Monday, the S&P 500 has fallen 1.2%, the Dow Jones Industrial Average dropped 1.1%, and the Nasdaq fell 1.9%.

"As the markets round off a difficult week, there are signs that investors are trying to keep a balanced perspective," said Lisa Kopp, senior vice president with U.S. Bank Wealth Management. "Markets started to bounce later in the day on Thursday in reaction to the sentiment earlier in the week had been severely negative."

"We continue to believe in the 'grind higher' thesis for the U.S. equity markets, but volatility is likely to remain high next week, particularly with the Brexit vote scheduled to take place on Thursday, June 23," she added.

The Fed left rates unchanged this week, just as Wall Street pegged. The number of Fed officials who expect to see just one rate hike this year rose to six members, up from just one official at the central bank's meeting in April.

Market reaction to the Fed's expected slower pace highlighted an interesting paradox: Investors want lower rates for longer but not at the expense of a weaker U.S. economy. Fed Chair Janet Yellen did reiterate her confidence in the strength of the U.S. economy in a press conference Wednesday afternoon.

The Fed's rate hike plans remained in the spotlight through to the end of the week with St. Louis Fed President James Bullard on Friday arguing a slower, more stable economy warranted fewer rate hikes. Bullard noted that low economic growth and a Fed funds rate of just 63 basis points is likely to remain through to 2018. He expects growth of just 2%, weak inflation and a low unemployment rate are likely to continue.

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Fears over a possible British exit from the EU kept global markets in check throughout the week. U.K. citizens will vote in the "Brexit" referendum on June 23, the results of which could have significant consequences for the economic and political stability of the region. The Fed mentioned a possible "Brexit" as a reason for maintaining rates as is after its June meeting.

Oil was also a major driver of market action during the week. West Texas Intermediate crude closed the week 2.2% lower as hopes weaker U.S. production might offset record global output began to fade. The number of active oil rigs in the U.S. rose for their third straight week on Friday. A decline in U.S. inventories over the past week was also narrower than analysts had expected. 

In economic data, both core consumer prices and producer prices in May rose at a better-than-expected pace, according to the Bureau of Labor Statistics. Inflation continues to edge higher, though at a very gradual pace which could stay the Fed's hand even longer. 

Industrial production fell in May as a sharp drop in motor vehicle production weighed on the headline number. The manufacturing sector has been weaker in general lately as a strong U.S. dollar and softer global demand slowed activity. 

Apple (AAPL) - Get Apple Inc. Report dominated headlines on Fridayafter the tech giant was ordered to stop sales of its iPhone 6 and 6 Plus smartphones in Beijing, citing patent infringement. Apple said the order has since been put on hold while it appeals and that all phones remain for sale. 

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In deals news, Microsoft (MSFT) - Get Microsoft Corporation Report agreed to purchase LinkedIn (LNKD) in a cash deal worth $26.2 billion. The offer of $196 a share represents a 50% premium to LinkedIn's closing price on Friday, the last trading session before news broke.

Revlon (REV) - Get Revlon, Inc. Class A Report reached an agreement to acquire fellow cosmetics maker Elizabeth Arden (RDEN) for about $870 million. Under the terms of the deal, Revlon will pay $14 per Elizabeth Arden share, a premium of roughly 50% over Elizabeth Arden's close on Thursday. The companies expect cost synergies of $140 million.