India, March 29 -- U.S. stocks deepened their drops Friday as Wall Street finished off a fifth straight losing week, its longest such streak in nearly four years.

The S&P 500 fell 1.7% to close its worst week since the war with Iran began. The Dow Jones Industrial Average lost 793 points, or 1.7%, and fell more than 10% from its record set last month, while the Nasdaq composite sank 2.1%.

The losses were a break from Wall Street's pattern this week, where the U.S. stock market flip-flopped from gains to losses each day as hopes rose and fell about a possible end to the war.

Moments after the U.S. stock market finished trading on Thursday, President Donald Trump offered more potential for optimism. He extended a self-imposed deadline to...