NEW YORK, New York - U.S. and world stock markets closed sharply lower on Friday, wrapping up a tumultuous week with widespread losses across nearly every major index. Investor sentiment was battered by a combination of growth concerns, hawkish central bank signals, and late-week profit-taking, with declines ranging from modest to historic. U.S. 30-year Treasuries shot to a 5.10 percent high.
On Wall Street, the Standard and Poor's 500 (^GSPC) closed at 7,408.50, falling 92.74 points, or 1.24 percent, on volume of 3.249 billion. The index traded between a low of 7,397.50 and a high of 7,454.85.
The Dow Jones Industrial Average (^DJI) ended at 49,526.11, down 537.35 points, or 1.07 percent, with 571.215 million shares changing hands. It moved within a range of 49,503.57 to 49,930.26.
The NASDAQ Composite (^IXIC) posted one of the steepest drops, shedding 410.08 points, or 1.54 percent, to close at 26,225.14, with volume of 7.482 billion.
The FTSE 100 (^FTSE) finished at 10,195.37, plunging 177.56 points, or 1.71 percent.
European bourses were hit even harder. The German DAX P (^GDAXI) tumbled 505.69 points, or 2.07 percent, to 23,950.57.
In France the CAC 40 (^FCHI) dropped 129.72 points, or 1.60 percent, to settle at 7,952.55.
The EURO STOXX 50 (^STOXX50E) fell 107.20 points, or 1.81 percent, ending at 5,827.76, while the Euronext 100 Index (^N100) closed at 1,798.83, down 28.72 points, or 1.57 percent. Belgium's BEL 20 (^BFX) slid 65.14 points, or 1.18 percent, to 5,467.27.
Elsewhere, in Canada the S&P/TSX Composite Index (^GSPTSE) closed at 33,833.35, down 434.92 points, or 1.27 percent, on volume of 306.577 million.
Asia-Pacific markets also suffered significant losses. China's SSE Composite Index (000001.SS) closed at 4,135.39, down 42.53 points, or 1.02 percent, on volume of 301.792 million. Japan's Nikkei 225 (^N225) rounded out the session with a steep loss of 1,244.76 points, or 1.99 percent, closing at 61,409.29.
Hong Kong's HANG SENG INDEX (^HSI) closed at 25,962.73, a drop of 426.31 points, or 1.62 percent. In Singapore, the STI Index (^STI) edged down 6.86 points, or 0.14 percent, to 4,989.08.
Australia saw modest declines Friday: the S&P/ASX 200 (^AXJO) lost 9.90 points, or 0.11 percent, finishing at 8,630.80, while the ALL ORDINARIES (^AORD) fell 14.10 points, or 0.16 percent, to 8,870.60.
New Zealand's S&P/NZX 50 (^NZ50) declined 60.06 points, or 0.46 percent, settling at 12,965.01.
In India, the S&P BSE SENSEX (^BSESN) closed at 75,237.99, down 160.73 points, or 0.21 percent.
Indonesia's IDX COMPOSITE (^JKSE) dropped sharply by 135.58 points, or 1.98 percent, ending at 6,723.32.
Malaysia's FTSE Bursa Malaysia KLCI (^KLSE) fell 5.36 points, or 0.31 percent, to 1,740.22.
The most dramatic move of the day came from South Korea. The KOSPI Composite Index (^KS11) collapsed by 488.23 points, or a staggering 6.12 percent, closing at 7,493.18 on volume of 885,627. The index ranged between 7,371.68 and 8,046.78.
Taiwan's TWSE Capitalization Weighted Stock Index (^TWII) fell 579.39 points, or 1.39 percent, to 41,172.36.
In Israel, the TA-125 (^TA125.TA) lost 85.84 points, or 1.95 percent, ending at 4,318.68. South Africa's Top 40 USD Net TRI Index (^JN0U.JO) fell 271.11 points, or 3.79 percent.
Market analysts noted that Friday's sell-off was broad-based, with no single sector spared. The KOSPI's 6.12 percent drop stood out as particularly severe, while European indexes saw their worst day in months. Traders now look to next week for potential stabilization, though sentiment remains fragile.
Friday Forex Wrap: U.S. Dollar Strengthens Across the Board as Yen, Franc Rally; Kiwi and Aussie Tumble
The U.S. dollar posted a strong performance against major currencies on Friday, driven by shifting interest rate expectations and risk-off sentiment heading into the weekend. The latest quotes from the world foreign exchange market revealed notable moves, particularly in commodity-linked currencies.
The euro weakened against the greenback, with the EUR/USD pair trading last at 1.1620. That marked a decline of 0.00487, or 0.42 percent, from its opening level of 1.1669. The single currency moved within a daily range of 1.1673 to 1.1617.
Sterling saw sharper losses. The GBP/USD pair was quoted at 1.3320, down 0.00832, or 0.62 percent. Having opened the session at 1.3403, the British pound was pressured by persistent concerns over the UK economic outlook, briefly dipping to a low of 1.3316.
The Japanese yen and Swiss franc also lost ground against the dollar. Friday The USD/JPY pair climbed to 158.74, a gain of 0.38 yen or 0.24 percent, as the dollar remained bid. The pair opened at 158.37 and touched a session high of 158.75.
Meanwhile, the USD/CHF pair advanced to 0.7869, up 0.00321 or 0.41 percent. The dollar opened at 0.7836 and reached a low of 0.7834 before firming to a high of 0.7873.
The USD/CAD pair also moved higher, trading at 1.3754 — a rise of 0.00344, or 0.25 percent. The pair opened at 1.3720 and ranged between 1.3715 and 1.3767.
In the Asia-Pacific region, both the Australian and New Zealand dollars suffered steep declines. The AUD/USD pair was hammered down to 0.7149, a drop of 0.00712 or 0.99 percent. It opened at 0.7221 and fell as low as 0.7139.
The NZD/USD pair fared even worse, tumbling to 0.5839 — a loss of 0.00712, or 1.20 percent. Having started the day at 0.5911, the kiwi dollar touched a session high of 0.5931 before plunging to a low of 0.5836.
Finally, the USD/CNY pair was last quoted at 6.8099, reflecting a firmer dollar against the offshore Chinese yuan.
Traders said liquidity thinned as the session progressed, with many participants squaring positions ahead of the weekend. The notable weakness in the Aussie and Kiwi dollars suggests growing caution over global growth prospects, while the dollar's resilience continues to be underpinned by relatively higher U.S. yields.
(This report incorporates quotes retrieved with the assistance of artificial intelligence).
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