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Stocks: Worst week of the year

NEW YORK (CNNMoney) -- U.S. stocks stumbled Friday, following a two-day rally, closing lower for a second straight week with the worst declines of the year.

The Dow tumbled 1.6%, while the S&P 500 sank 2% and the Nasdaq lost 2.3%.

At the start of the week,stocks were driven sharply lower by the ugly March jobs report and fresh worries about Europe's debt crisis. They rebounded a bit toward the middle of the week, but fell sharply again Friday as a slowdown in China's economy overshadowed a batch of better-than-expected earnings results. 

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