Stock market

Major stock indexes dropped sharply Friday; the Dow Jones industrial average tumbled 2.6 percent amid signs that wage growth is picking up. It was the Dow's worst weekly performance in two years.

Stocks have been rising for years, and they are starting 2018 with another shot upward. The Dow Jones industrial average closed at about 25,000 — the fastest run to a new 1,000-point milestone ever.

Stanley Fischer says that despite record highs in the stock market — boosted by the Fed's low interest rates — he doesn't see a bubble. But he says the U.S. debt could be a problem if rates go up.