US stocks close lower as exchanges post weekly losses

ISTANBUL

US stocks closed lower on Friday as major stock exchanges posted weekly losses.

The Dow Jones was down 475 points, or 1.24%, to finish the day at 37,983. The blue-chip index fell 1.6% this week.

The S&P 500 lost 75 points, or 1.46%, to end the session at 5,123, posting its worst daily performance since January. This week, the index shed 2.7%.

The Nasdaq plummeted 267 points, or 1.62%, to end the day at 16,175. The tech-heavy index lost 0.5% for the week.

The VIX volatility index, also known as the fear index, soared 16.3% to 17.34. The 10-year US Treasury yield fell 1.2% to 4.523%.

The US dollar index climbed 0.72% to 106.04, while the euro declined 0.8% to $1.0638 against the greenback.

Precious metals were on the decline, with gold losing 1.3% to $2,342 per ounce and silver down 1.6% to $27.99.

Oil prices rose around 0.6% with global benchmark Brent crude at $90.25 per barrel and US benchmark West Texas intermediate at $85.53.