S&P 500, Nasdaq see largest weekly losses in 3 months

By Ovunc Kutlu

ISTANBUL (AA) - The Nasdaq and the S&P 500 closed Friday lower and posted their largest weekly losses since April.

The S&P 500 fell 39 points, or 0.71%, to end the day at 5,505. The index lost 1.97% for the week.

The Nasdaq declined 144 points, or 0.81%, to finish the session at 17,726. The tech-heavy index recorded a weekly decrease of 3.65%.

The Dow Jones industrial average, meanwhile, fell 377 points, or 0.93% to close at 40,287. The blue-chip index rose 0.72% for the week.

The VIX volatility index, also known as the fear index, rose 3.7% to 16.52. The 10-year US Treasury yield added 0.1% to 4.243%.

The dollar index increased 0.18% to 104.36, while the euro fell 0.1% to $1.0885 against the greenback.

Precious metals were in negative territory, with gold falling 1.8% to $2,400 per ounce and silver decreasing 2% to $29.22.

Oil prices were down around 3%, with global benchmark Brent crude at $82.58 and US benchmark West Texas Intermediate at $78.60.