Stocks fell lower Friday as market participants wrapped up a cautious week amid the Federal Reserve's latest policy decision, ongoing union strikes and the potential for a U.S. government shutdown. The Dow Jones Industrial Average dropped over 100 points, while the S&P 500 Index and Nasdaq Composite lost 0.2% and 0.1%, respectively.

Here's how the market settled to close out the week:

S&P 500 Index (SPY  ): -0.23% or -9.99 points to 4,320.01

Dow Jones Industrial Average (DIA  ): -0.31% or -106.38 points to 33,964.04

Nasdaq Composite Index (QQQ  ): -0.09% or -12.18 points to 13,211.81

Friday's session was Wall Street's fourth consecutive day of losses, leading all three major averages to a negative week. The Dow fell 1.9% for the week, while the S&P 500 and Nasdaq slumped 2.9% and 3.6% for the week, respectively.

In the spotlight, Ford (F  ) has reportedly made some progress in negotiations with striking United Auto Workers (UAW) union members, CNBC reported, citing a person familiar with the matter. Separately, the UAW announced it is expanding strikes to 38 General Motors (GM  ) and Stellantis (STLA  ) facilities across 20 states, UAW President Shawn Fain said on Friday.

"We still have serious issues to work through, but we do want to recognize that Ford is showing that they're serious about reaching a deal," said Fain in a Facebook Live (META  ). "At GM and Stellantis, it's a different story."

The strikes at the GM and Stellantis facilities adds about 5,600 workers to the ongoing UAW strikes; about 12,700 workers went on strike a week ago.

Elsewhere, market participants digested a series of Fedspeak on Friday. San Francisco Fed President Mary Daly said during a conference that the more economic data before the central bank determines whether or not to further tighten its policy.

"The thing that would be a problem is if we decided that we wanted to call it done we'd say we're done, we say definitely one more, when we actually don't know," Daly said, quoted by CNBC. "Patience is a prudent strategy."

Daly's comments come as the Fed held interest rates at their current level in its latest decision on Wednesday, but signaled that one more rate hike is anticipated before the end of the year and rates are expected to remain higher-for-longer in 2024 in effort to stabilize prices.

In economic news, the U.S. economy saw slowing growth so far in September, according to S&P Global's preliminary purchasing managers index (PMI) for services and manufacturing released Friday. The headline flash composite PMI for the U.S. ticked lower to 50.1 from 50.1 in August -- still signalling expansion as it is a reading above the neutral level of 50. Manufacturing PMI had a reading of 48.9 in September, up from August's print of 47.9, while Services PMI ticked lower to 50.2 from 50.5.

For next week, investors will turn their attention to fresh economic data on consumer confidence, second-quarter GDP, and inflation readings due out throughout the week.