U.S. stock markets closed lower at the end of the week, as investors continued to rotate out of technology shares, putting pressure on major indices.
The Dow Jones Industrial Average fell by 0.51%, or 245.96 points, to close at 48,458.05. The broader S&P 500 index declined by 1.07%, losing 73.59 points to finish at 6,827.41.
The tech-heavy Nasdaq Composite recorded the steepest losses, dropping 1.69%, or 398.69 points, to 23,195.17.
Market volatility increased, with the Volatility Index (VIX), often referred to as the “fear gauge”, rising 5.99% to 15.74.
In corporate news, shares of Oracle fell sharply after the company reported earnings this week. The stock dropped 11% on Thursday after revenues missed market expectations, followed by a further 4.5% decline on Friday.
Broadcom shares also slid 11.5% after the company released its balance sheet following Thursday’s market close, despite reporting profits and revenues that exceeded forecasts.
Among other major technology stocks, Nvidia shares fell 3.3%, Amazon declined 1.8%, Meta slipped 1.3%, while Alphabet and Microsoft each lost around 1%.
On the political front, U.S. President Donald Trump told The Wall Street Journal that he was close to choosing either White House National Economic Council Director Kevin Hassett or former Federal Reserve Board member Kevin Warsh as the next chair of the Federal Reserve.
Trump said the new chair should consult with him on interest rate decisions and reiterated his view that the policy rate should be at 1% or lower within a year.
President Donald Trump claimed on Monday that tariff revenues collected by the U.S. will surpass $600 billion, saying the measures have strengthened t...
Syria on Monday denied reports of a security incident targeting President Ahmad al-Sharaa and senior officials....
Shares of major U.S. oil and energy companies surged on Monday even as crude prices showed little movement, revealing a growing divergence between ene...
Vice President JD Vance said on Monday that an individual had attempted to break into his Ohio residence by hammering on the windows, noting that he a...
The Corporation for Public Broadcasting (CPB) has voted to dissolve, bringing to an end more than half a century of federal support for public media i...
President Donald Trump claimed on Monday that tariff revenues collected by the U.S. will surpass $600 billion, saying the measures have strengthened the country financially and enhanced its international standing.
Syria on Monday denied reports of a security incident targeting President Ahmad al-Sharaa and senior officials.
Shares of major U.S. oil and energy companies surged on Monday even as crude prices showed little movement, revealing a growing divergence between energy equities and the underlying commodities market.
Vice President JD Vance said on Monday that an individual had attempted to break into his Ohio residence by hammering on the windows, noting that he and his family were not at home at the time.
Teenagers as young as 14 and 15 years old were among those who died in the bar fire on New Year's Eve that killed 40 people in Switzerland, police said on Sunday.
North Korea fired a ballistic missile into the East Sea, according to South Korea and Japan, as regional diplomacy and security concerns remain in focus.
Denmark’s Prime Minister Mette Frederiksen has urged U.S. President Donald Trump to abandon comments suggesting the United States should take over Greenland, calling the idea baseless and unacceptable.
Israeli media report that Israeli Prime Minister Benjamin Netanyahu chaired a lengthy security meeting that reportedly focused on the country’s regional threats, including Gaza, Lebanon, and Iran.
Flights across Greece were halted for hours on Sunday after a collapse of radio frequencies crippled air traffic communication, stranding thousands of travellers during one of the busiest holiday weekends.
India’s largest oil refiner, Indian Oil Corporation (IOC), has taken a significant step towards diversifying its crude oil supply by purchasing Colombian crude, from state oil company Ecopetrol, for the first time.
China has given the nod for car makers to sell Level 3 self-driving vehicles from as early as next year after it approved two electric sedans from Changan Auto and BAIC Motors.
Warner Bros Discovery’s board rejected Paramount Skydance’s $108.4 billion hostile bid on Wednesday (17 December), citing insufficient financing guarantees.
Ford Motor Company said on Monday it will take a $19.5 billion writedown and scrap several electric vehicle (EV) models, marking a major retreat from its battery-powered ambitions amid declining EV demand and changes under the Trump administration.
Iran has rolled out changes to how fuel is priced at the pump. The move is aimed at managing demand without triggering public anger.
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