Wall Street ends Friday lower; S&P 500 and Nasdaq post weekly losses as Dow notches third weekly gain

US stock indexes closed lower on Friday 23 October, while technology shares mostly steadied after Thursday’s sell-off, Reuters reported.

The Dow Jones Industrial Average fell 652.82 points, or 1.23%, to 52,215.16. The S&P 500 lost 39.75 points, or 0.52%, to 7,623.68, and the Nasdaq Composite fell 53.52 points, or 0.21%, to 25,955.34.

Over the week, the S&P 500 fell 0.5% and the Nasdaq 0.7%, while the Dow rose 0.4%, its third weekly gain in a row, according to Reuters.

The S&P 500 energy sector rose 2.5% to a record high as Brent crude settled at its highest level since 29 April. An index of chip stocks gained 0.4% a day after its biggest one-day fall since June. Meta Platforms shares ended down 1% and Microsoft rose 0.7%. American Express fell 3.7% after its quarterly results, and telecom shares including Verizon fell after a report that SpaceX was in talks about a US wireless carrier programme, Reuters said.

The 10-year US Treasury yield rose 3.7 basis points to 4.99%. In Europe, the STOXX 600 index fell 0.31% to 635.77, ending the week down about 1.4%, its steepest weekly loss since early September. The euro was 0.21% lower at $1.1191.

About a third of S&P 500 companies are due to report quarterly results in the week starting 26 October, including Alphabet, Microsoft and Amazon, Reuters reported.

See also: Friday midday: Dow falls as Brent tops $116.