FX.co ★ U.S. Stocks Close Notably Lower; Nasdaq Sheds 1.5 Percent

On Friday, U.S. stock indices experienced a decline, with the technology-centric Nasdaq exhibiting the steepest losses, as yields on the 10-Year Treasury Note reached their highest levels in eight months. The Dow Jones Industrial Average fell 333.59 points, or 0.77%, ending the session at 42,992.21, though it recovered from an intraday low of 42,761.56. The S&P 500 finished at 5,970.84, down 66.75 points or 1.11% after dipping to 5,932.95 during the trading day. The Nasdaq Composite decreased by 298.33 points or 1.49%, closing at 19,722.03, bouncing back from a session low of 19,533.40.

Despite Friday's declines, the Dow recorded a weekly advance of approximately 1.4%, while both the S&P 500 and the Nasdaq climbed upward by more than 1.5% over the course of the week.

Tesla's shares fell by nearly 5%, and notable declines were also seen among major technology firms such as Apple Inc., Nvidia, Alphabet, Microsoft Corporation, Amazon, Oracle Corporation, Netflix, Accenture, Morgan Stanley, and Micron Technology, which all slipped between 1 to 3%.

From an economic perspective, data revealed a 0.6% month-over-month increase in U.S. retail inventories, excluding automobiles, in November. This follows an upward revision to a 0.3% increase in the previous month, based on preliminary figures. Conversely, wholesale inventories decreased by 0.2% month-over-month to $902 billion in November, after a revised rise of 0.1% the month prior. When viewed annually, wholesale inventories showed a 0.9% increase in November.

In global markets, Asian stocks presented a mixed result, whereas European markets concluded trading on a strong note.