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New York Stock Exchange Closes Friday in Red
(MENAFN) Trading concluded Friday with the New York Stock Exchange posting declines as investors persisted in their shift away from technology equities.
The Dow Jones dropped 245.96 points, or 0.51%, settling at 48,458.05.
The Nasdaq slid 398.69 points, or 1.69%, finishing at 23,195.17, while the S&P 500 declined 73.59 points, or 1.07%, closing at 6,827.41.
The Volatility Index (VIX), commonly referred to as the "fear index," climbed 5.99% to reach 15.74.
Oracle shares plummeted 11% Thursday following this week's earnings release, with revenue figures missing analyst projections. The stock tumbled an additional 4.5% Friday.
Broadcom stock collapsed 11.5% despite delivering quarterly results that exceeded profit and revenue forecasts in its Thursday after-hours announcement.
Nvidia declined 3.3%, while Amazon shed 1.8%, Meta dropped 1.3%, and both Alphabet and Microsoft fell 1%.
In an interview with media, US President Donald Trump indicated he was nearing a decision between White House National Economic Council Director Kevin Hassett or former Fed Board member Kevin Warsh for the Fed's chair position.
Trump stated the new chair should consult with him on interest rates, and he wanted the policy rate to be at 1% or lower a year from now.
The Dow Jones dropped 245.96 points, or 0.51%, settling at 48,458.05.
The Nasdaq slid 398.69 points, or 1.69%, finishing at 23,195.17, while the S&P 500 declined 73.59 points, or 1.07%, closing at 6,827.41.
The Volatility Index (VIX), commonly referred to as the "fear index," climbed 5.99% to reach 15.74.
Oracle shares plummeted 11% Thursday following this week's earnings release, with revenue figures missing analyst projections. The stock tumbled an additional 4.5% Friday.
Broadcom stock collapsed 11.5% despite delivering quarterly results that exceeded profit and revenue forecasts in its Thursday after-hours announcement.
Nvidia declined 3.3%, while Amazon shed 1.8%, Meta dropped 1.3%, and both Alphabet and Microsoft fell 1%.
In an interview with media, US President Donald Trump indicated he was nearing a decision between White House National Economic Council Director Kevin Hassett or former Fed Board member Kevin Warsh for the Fed's chair position.
Trump stated the new chair should consult with him on interest rates, and he wanted the policy rate to be at 1% or lower a year from now.
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