By Ovunc Kutlu
ISTANBUL (AA) - US stocks closed Friday with losses after hot jobs figures reignited fears that the Federal Reserve's first rate cut could be delayed until September.
The Dow Jones Industrial Average fell 87 points, or 0.22%, to close at almost 38,799. The blue-chip index saw a 0.6% weekly increase.
The S&P 500 fell nearly six points, or 0.11%, to end the day at near-record-high level of almost 5,347. The index posted a weekly gain of 1.1%.
The Nasdaq, meanwhile, declined nearly 40 points, or 0.23%, to finish the session at 17,133. But, the tech-heavy index rose 1.7% this week.
GameStop saw its shares plummeting 39.3% on Friday, while the video game and consumer electronics retailer posted around 28% decline in net sales during the first quarter of this year, according to its financial results statement released earlier.
American economy added 272,000 jobs in May, much more than market estimates of 182,000, according to Labor Department figures released earlier.
The jobs data, which is closely watched by the Fed, shows that the US labor market still remains hot, and the central bank's first rate cut could be further delayed this year.
The VIX volatility index, also known as the fear index, fell 2.9% to 12.23. The 10-year US Treasury yield jumped 3.7% to 4.434%.
The dollar index rose 0.8% to 104.92, while the euro shed 0.8% to $1.0803 against the greenback.
Precious metals declined sharply, with gold diving 3.7% to $2,288 and silver plummeting 6.9% to $29.16.
Oil prices were down around 0.5%, with global benchmark Brent crude at $79.36 and US benchmark West Texas Intermediate at $75.25 per barrel.