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×S&P 500 closes below 5,000 pts for first time in 2 months
Most US stock indices declined during the last trading week, recording losses for the third week in a row, marking a continuation of the downward trend that began in the second quarter of this year.
At the close of trading on Friday, the Dow Jones Industrial Average rose by 0.55%, or 211 points, to 37,986 points, erasing its losses since the beginning of the week.
The S&P 500 index fell by 0.9%, or 43 points, to 4,967 points, recording weekly losses of approximately 3%. It closed below the level of 5,000 points for the first time since the Feb. 21 session (4,981 points).
The Nasdaq index retreated by approximately 2%, or 319 points, to 15,282 points, marking a weekly decline of 5.5%, the lowest level since the end of trading on Jan. 31 (15,164 points).
The S&P 500 Information Technology index declined by 3.1%, with Nvidia stock falling by 10%. Amazon, Microsoft, Apple, Meta Platforms, Alphabet, and Tesla shares fell between 1.2% and 4.15%.
Among the European markets, the STOXX Europe 600 index fell by 0.1% to 499.2 points, bringing the index losses to 1.2% since the beginning of the week. This decline marks the third consecutive week of losses for the index.
On the other hand, the French CAC 40 index stabilized at 8,022 points, the British FTSE 100 index rose by 0.25% to close at 7,895 points, and the German DAX fell by 0.55% to 17,737 points.
In Japan, the Nikkei index fell by 2.65%, or 1,011 points, to 37,068 points, recording the largest daily decline since September 2022. The broader Topix index ended the session down by 1.9% to 2,626 points.
In the oil market, futures contracts for standard Brent crude for June delivery rose by 0.2%, or 18 cents, to $87.29 a barrel, after touching $90.75, but declined during the week by 3.5%.
The price of US Nymex crude for May delivery increased by 0.5%, or 41 cents, to $83.14 per barrel, after touching $86.28, but recorded weekly losses of 2.95%.
As for gold, futures prices for June delivery rose by 0.65%, or $15.8, to $2,413.8 per ounce, marking the 11th record level this month. This surge follows a peak of $2,433.30, with gains reaching 1.65% for the week.
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