Nasdaq posts 5.8% weekly loss, worst performance since 2022

By Ovunc Kutlu

ISTANBUL (AA) - The US stocks closed Friday with major losses, and the Nasdaq posted a 5.8% weekly decline for the week, recording its worst weekly performance since 2022.

The tech-heavy index plummeted 436 points, or 2.55%, to finish the day at 16,690.

The S&P 500 decreased almost 95 points, or 1.73%, to end the session at 5,408. The index saw a weekly loss of 4.3% for its worst week since March 2023.

The Dow Jones, meanwhile, decreased 410 points, or 1.01%, to 40,345 at the final bell. The blue-chip index lost 2.9% this week.

The VIX volatility index, also known as the "fear index," soared 12.46% to 22.38. The 10-year US Treasury yield declined 0.43% to 3.716%.

The dollar index increased just 0.08% to 101.19, while the euro declined 0.22% to $1.1086 against the greenback.

Precious metals also saw losses, with gold falling 0.8% to $2,496 per ounce and silver decreasing 3.1% to $27.93.

Oil prices were down around 1.6%, with global benchmark Brent crude priced at $71.48 per barrel and US benchmark West Texas Intermediate at $68.11.