ISTANBUL

The New York Stock Exchange ended Thursday with a decline, despite positive messages from a meeting between US President Donald Trump and Chinese President Xi Jinping.

The Dow fell 0.23%, or 109.99 points, to close at 47,522.12.

The Nasdaq dropped 1.57%, or 377.33 points, to close at 23,581.14, while the S&P 500 dipped 0.99%, or 68.25 points, to 6,822.34.

The Volatility Index (VIX), also known as the "fear index," fell 0.06% to 16.91.

Following Trump and Xi's meeting in South Korea, the US president announced that Washington would reduce fentanyl-related tariffs on Beijing to 10% and he negotiated a one-year agreement with China on rare earths and other vital minerals.

On the corporate side, declines in the shares of tech companies Meta and Microsoft, which published their balance sheets Wednesday, contributed to the negative market trend.

Meta's shares lost more than 11% after raising its capital expenditure outlook, despite reporting higher-than-expected profits and revenues.

Microsoft's shares fell nearly 3% after it indicated that capital expenditures would accelerate during the current fiscal year.

Alphabet shares rose 2.5% after the company reported strong financial results, supported by revenue from Google Cloud and YouTube advertising.

US Fed Chairman Jerome Powell's suggestion Wednesday that interest rates may not be cut in December also dampened the risk appetite in the markets.