New York Stock Exchange ends lower

ISTANBUL

The New York Stock Exchange ended the week's final trading day with losses as investors continued to rotate out of technology stocks.

The Dow Jones fell 0.51%, or 245.96 points, to close at 48,458.05.

The Nasdaq dipped 1.69%, or 398.69 points, to 23,195.17, while the S&P 500 was off 1.07%, or 73.59 points, to 6,827.41.

The Volatility Index (VIX), also known as the "fear index," rose 5.99% to 15.74.

Shares of Oracle, which reported earnings this week, lost 11% on Thursday due to its revenues falling short of expectations. The company's shares fell another 4.5% on Friday.

Broadcom's shares, which announced its balance sheet after the markets closed Thursday, also lost 11.5%, despite the company reporting better-than-expected profits and revenues.

Nvidia's shares fell 3.3%, Amazon was down 1.8%, Meta was off 1.3% and Alphabet and Microsoft sank 1%.

US President Donald Trump said in an interview with The Wall Street Journal that he was close to selecting White House National Economic Council Director Kevin Hassett or former Fed Board member Kevin Warsh for the Fed's chair position.

Trump said the new chair should consult with him on interest rates, and he wanted the policy rate to be at 1% or lower a year from now.