NEW YORK (TheStreet) -- Stocks extended modest losses by the final hour of trading on Friday as continuing Greek debt talks worried investors.
The S&P 500 was down 0.46%, and the Dow Jones Industrial Average fell 0.52%. The Nasdaq slipped from its record close on Thursday, down 0.31%.
Crude oil closed with daily and weekly losses as the safe-haven U.S. dollar moved higher against international currencies. West Texas Intermediate crude dropped 1.4% to $59.61 a barrel, down 0.6% for the week. Exxon Mobil (XOM), Schlumberger (SLB), Chevron (CVS), Halliburton (HAL) and ConocoPhillips (COP) fell, while the Energy Select Sector SPDR ETF (XLE) slid 0.92%.
The European Central Bank reportedly raised its funding cap on Emergency Liquidity Assistance for Greece's banks, according to Reuters. Greek savers reportedly pulled 1 billion euros out of banks in a single day on Friday.
"There is a sense of unease in the markets as the clock continues to tick down to the approaching deadline for Greece to strike a deal to avoid a debt default," said TD Securities' Millan Mulraine.
European Council President Donald Tusk has called an emergency summit for further debt talks on Monday. Eurozone finance ministers from 19 countries will convene to try to overcome the stalemate. Eurozone finance ministers want Greece to introduce a round of austerity measures in exchange for further debt relief. Greece has until the end of the month to repay its debts to the International Monetary Fund. Click here for more.