US Stock Market Closes Lower On Friday

Major indices in the US stock market closed lower on Friday amid worries that the US Federal Reserve may continue hiking rates in the near term.

The blue-chip Dow lost 292.5 points, or 0.86%, to end the day at 33,706, while the S&P 500 dropped by 55.4 points, or 1.29%, to 4,228.

The tech-heavy Nasdaq decreased 260 points, or 2.01%, to 12,705.

The VIX volatility index, also known as the fear index, jumped 5.1% to 20.56 The 10-year US Treasury yield climbed 3.45% to 2.979%.

The dollar index was up 0.56% to 108. The euro was down 0.46% to $1.0042 against the dollar.

Precious metals lost ground, with gold decreasing 0.62% to $1,760 and silver down 2.52% to $18.97.

The global oil benchmark Brent crude was at $96 per barrel for a 0.60% loss, while the US benchmark West Texas Intermediate slipped 0.46% to $90.08. -