U.S. stocks fell at the close of trading Friday to record weekly losses, affected by the continued sell-off in the semiconductor sector, fueled by concerns about the pace of spending on artificial intelligence, along with escalating geopolitical tensions in the Middle East.

Index

Index Reading

Change in Value

Change (%)

52,146.42

(406.55)

(0.77%)

Week

Month

3 Months

6 Months

Year

3 Years

All

25,520.24

(361.71)

(1.40%)

7,457.69

(76.08)

(1.01%)

24,830.98

(84.51)

(0.34%)

8,338.81

(39.05)

(0.47%)

10,600.37

28.17

0.27%

24,562.24

(446.36)

(1.78%)

64,141.12

(2,694.42)

(4.03%)

78,151.45

964.58

1.25%

At the close of the session, the Dow Jones Industrial Average fell 0.77%, or 406 points, to 52,146 points, declining 0.93% over the week.

The broader S&P 500 index fell 1%, or 76 points, to 7,457 points, and the Nasdaq Composite dropped 1.40%, or 361 points, to 25,520 points, recording weekly losses of 1.55% and 2.90%, respectively.

In Europe, the Stoxx Europe 600 index fell 0.34% to 641 points, ending the week virtually unchanged.

While the UK's FTSE 100 rose 0.27% to 10,600 points, Germany's DAX fell 0.34% to 24,830 points, and France's CAC 40 declined 0.47% to 8,338 points.

In Japan, the Nikkei 225 plummeted 4% to 64,141 points, and the broader Topix index dropped 2.70% to 3,919 points.

Commodity

Price

Change in Value

Change (%)

88.10

3.87

4.56%

82.49

3.54

4.45%

4,017.26

40.77

1.03%

Regarding oil, benchmark Brent crude futures for September delivery jumped 4.59%, or $3.87, to $88.10 per barrel.

U.S. West Texas Intermediate (WTI) crude futures for August delivery rose 4.48%, or $3.54, to $82.49 per barrel.

For gold, futures for August delivery increased 0.67%, or $26.70, to $4,018.80 per ounce.

What's behind the market moves? Stock markets came under pressure from the sell-off in the chip sector, along with escalating tensions between the U.S. and Iran and rising oil prices, which heightened fears of continued inflationary pressures and monetary policy tightening, especially in the United States.