US stocks end lower; Dow Jones loses 540 points

US stocks closed sharply lower on Friday, pressured by losses in technology shares, rising Treasury yields and renewed concerns over a possible escalation of military tensions in the Middle East.

The Dow Jones Industrial Average fell 1%, or 537 points, to 49,526, posting a weekly loss of 0.16%.

The S&P 500 dropped 1.24%, or 92 points, to 7,408, although the benchmark index still managed a weekly gain of 0.13% after closing above the 7,500 level for the first time ever in the previous session.

The Nasdaq Composite declined 1.54%, or 410 points, to 26,225, ending the week little changed after hitting a record closing high a day earlier.

In Europe, the Stoxx Europe 600 index fell 1.48% to 606 points, weighed down by mining stocks.

FTSE 100 dropped 1.71% to 10,195 points, Germany’s DAX fell 2% to 23,950, and France’s CAC 40 lost 1.60% to 7,952.

Japan’s Nikkei 225 slid 1.99% to 61,409, extending its weekly losses to 2.10%, while the broader Topix index eased 0.39% to 3,863, though it still posted a weekly gain of 0.90%.

Brent crude futures for July delivery rose 3.35%, or $3.54, to settle at $109.26 a barrel, lifting weekly gains to 7.86%.

US WTI crude futures for June delivery climbed 4.20%, or $4.25, to $105.42 a barrel, bringing weekly gains to 10.48%.

Gold futures for June delivery fell 2.63%, or $123.40, to $4,561.90 an ounce, posting a weekly decline of 3.56%.

Investors remained cautious after US-China talks ended without progress on key outstanding issues, while escalating rhetoric between Washington and Tehran renewed fears of military conflict in the Middle East. Technology stocks also came under pressure from profit-taking following recent gains.