The Dow Jones industrial average was down 0.52 percent at 18,118.22 points and the S&P 500 had lost 0.48 percent to 2,136.97.
US stocks fell on Friday as the possibility of a USD 14 billion fine against Deutsche Bank weighed on big banks and investors wrestled with lingering uncertainty about when the US Federal Reserve will hike interest rates.
The settlement proposal, made during negotiations between the US Department of Justice and Deutsche Bank over claims that the German bank missold mortgage-backed securities, was larger than expected.
Deutsche Bank's US-listed shares slumped 9.35 percent. Dow components Goldman Sachs and JPMorgan fell over 1 percent each.
The S&P 500 financial index dropped 0.91 percent, dragging down the benchmark index the most. The KBW Bank index fell 1.11 percent and logged its second straight week of declines.
Traders have all but ruled out the possibility of the Federal Reserve raising interest rates at its meeting that starts next Tuesday. But residual doubts and questions about when the Fed may finally pull the trigger still hurt sentiment.
"It's the uncertainty of next week, the complacency of investors trying to re-evaluate their portfolios as we prepare for an interest-rate hike," said Jeff Carbone, co-founder of Cornerstone Financial Partners in Charlotte, North Carolina.
The Dow Jones industrial average lost 0.49 percent to finish at 18,123.80 and the S&P 500 fell 0.38 percent to 2,139.16.
The Nasdaq Composite declined 0.1 percent to 5,244.57.
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