US stocks close lower, post weekly losses

US stocks declined on Friday, recording weekly losses amid continued investor outflows from the technology sector, as renewed concerns emerged over inflated valuations of AI-linked companies.

The Dow Jones Industrial Average fell 0.51%, or 245 points, to 48,458, trimming its weekly gain to 1%.

The broader S&P 500 declined 1.10%, or 73 points, to 6,827, after closing at a record high in the previous session, ending the week with a loss of 0.63%.

The Nasdaq Composite dropped 1.69%, or 399 points, to 23,195, deepening its weekly loss to 1.62%.

The Stoxx Europe 600 index slipped 0.53% to 578.24 points, with technology stocks falling 0.95%.

Germany’s DAX fell 0.45% to 24,186, France’s CAC 40 declined 0.21% to 8,068, and the UK’s FTSE 100 dropped 0.56% to 9,649.

In Japan, the Nikkei 225 rose 1.35% to 50,836, while the broader Topix index gained 2% to a record 3,423 points. Both indices posted weekly gains of 0.70% and 1.80%, respectively.

As for commodities, Brent crude futures for February delivery fell 0.26%, or $0.16, to $61.12 per barrel, posting a weekly loss of 4.12%. WTI (Nymex) crude futures for January delivery declined 0.28%, or $0.16, to $57.44 per barrel, recording a weekly loss of 4.40%.

As for gold, futures for February delivery rose 0.35%, or $15.3, to $4,328.30 per ounce, extending weekly gains to 2%.