The stock market dropped for the second week in a row, the first two-week decline since March, according to the National Business Review.

The Dow Jones Industrial Average lost 34.01 points to end at 8438.39, a 1.2 percent drop for the week ending on June 26. The S&P 500 index dropped 2.9 percent overall in the two weeks since June 15.

Energy producers, makers of industrial equipment and real-estate companies posted the biggest losses as oil prices declined and new home sales fell, said the National Business Review.

Some analysts say a surprise decline in consumer confidence numbers may have driven down stocks.

In one bright spot, the Nasdaq rose 0.6 percent for the week ending June 26, driven largely by technology stocks.

The stock market faces further volatility as a flurry of economic data, including June jobs numbers and housing and manufacturing reports, are released in the first four days before the July 4 holiday.