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.
A federal judge in Minnesota has ordered Acting Immigration and Customs Enforcement (ICE) Director Todd M. Lyons to appear in court on Friday and expl...
Syrian President Ahmed al-Sharaa stressed to U.S. President Donald Trump in a phone call on Tuesday the importance of unifying international efforts t...
Residents in Syria’s Kurdish-majority city of Qamishli have stepped up volunteer patrols amid growing pressure from the country’s Islamist-led gov...
Sanctions are a long-used tool designed as an alternative to military force and with the objective of changing governments’ behaviour, but they also...
Azerbaijan’s participation in the United States-backed Board of Peace reflects a clear calculation of national interest, according to Chingiz Mammad...
A federal judge in Minnesota has ordered Acting Immigration and Customs Enforcement (ICE) Director Todd M. Lyons to appear in court on Friday and explain why he should not be held in contempt for failing to comply with multiple court orders, officials said.
Syrian President Ahmed al-Sharaa stressed to U.S. President Donald Trump in a phone call on Tuesday the importance of unifying international efforts to prevent the return of "terrorist groups", including Islamic State.
Residents in Syria’s Kurdish-majority city of Qamishli have stepped up volunteer patrols amid growing pressure from the country’s Islamist-led government, expressing deep mistrust of Damascus despite a fragile U.S.-backed ceasefire.
Sanctions are a long-used tool designed as an alternative to military force and with the objective of changing governments’ behaviour, but they also end up hurting civilian citizens.
Minnesota Governor Tim Walz has activated the state’s National Guard following the fatal shooting of a U.S. citizen in Minneapolis, an incident that has triggered protests and intensified tensions between state and federal authorities.
Iran’s Foreign Ministry has strongly rejected a U.S. magazine report on the death toll during January unrest. Nationwide protests erupted in response to soaring inflation and a national currency crisis.
A mosaic portrait of Pope Leo XIV was illuminated on Sunday at the Basilica of St. Paul Outside the Walls in Rome, continuing a centuries-old Vatican tradition marking the election of a new pope.
The death toll from nationwide protests in Iran has climbed to 6,126, according to the U.S.-based Human Rights Activists News Agency (HRANA).
Serbian President Aleksandar Vučić, often viewed as a bellwether for the complex diplomatic currents between the Kremlin and the West, has issued a startling prediction regarding the endgame of the war in Ukraine.
Chevron is in talks with Iraq’s oil ministry over potential changes to the commercial framework governing the West Qurna 2 oilfield, one of the world’s largest producing assets, after Baghdad nationalised the field earlier this month following U.S. sanctions imposed on Russia’s Lukoil.
Argentina's economic activity shrunk 0.3% in November compared with the same month last year, marking the first monthly contraction of 2025, data from Argentina's national statistics agency showed on Wednesday.
Wall Street closed sharply lower on Tuesday as global markets fell after U.S. President Donald Trump’s new tariff threats against Europe unsettled investors and revived fears of renewed volatility.
Global markets are rattled after U.S. President Donald Trump threatened new tariffs on eight European countries over Greenland, sending the euro to a seven-week low and raising concerns about renewed transatlantic trade tensions.
Hong Kong and Shanghai will sign a memorandum of understanding next week to establish a cross-border gold trade clearing system, a move aimed at boosting Hong Kong’s role as an international gold trading hub, Financial Secretary Paul Chan said.
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