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U.S. Stocks Dip as Dow Jones Falls and Sectors Decline

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U.S. Stocks Dip as Dow Jones Falls and Sectors Decline

U.S. Stocks End Lower; Dow Jones Industrial Average Falls 0.31% at Close of Trade

By Reuters Staff

U.S. equities closed lower on Friday, with losses in the technology, healthcare, and energy sectors pushing stocks down. The Dow Jones Industrial Average fell 0.31%, marking its lowest point in nearly a month, while the S&P 500 dropped 0.23% and the Nasdaq Composite slipped 0.09%.

Among the best performing stocks on the day were UnitedHealth Group Inc, which rose 0.99% to trade at $506.10, Chevron Corp, which gained 0.66% to close at $166.28, and Apple, which increased by 0.49% to end at $174.79. However, The Walt Disney Company, Walgreens Boots Alliance, and The Dow Chemical Company were among the worst performers, with each seeing declines in their stock prices.

On the S&P 500, ON Semiconductor, Broadcom, and Frasers Research Systems were the best performing stocks, while Norwegian Cruise Line, Paramount Global Class B, and Tesla saw the largest declines.

The Nasdaq Composite was led by Cheche Group Inc, Synaptogenix Inc, and Ohmyhome Ltd as the top performers, while Neptune Wellness Solutions Inc, Hongqiao High-tech Co., Ltd., and Morphic Holding Inc experienced the biggest drops.

In total, 1,561 stocks on the New York Stock Exchange fell, surpassing the number of stocks that closed higher at 1,350. On the Nasdaq Stock Exchange, 2,026 stocks closed down, while 1,418 stocks rose.

Paramount Global Class B shares hit a three-year low, falling 4.96% to $12.64. Walgreens Boots Alliance and Neptune Wellness Solutions Inc also fell to lows, losing 1.54% and 59.75% respectively.

Despite the downturn in stocks, implied volatility, which measures S&P 500 options, decreased by 1.94% to 17.20.

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In commodities, the price of gold futures rose 0.26% to $1,944.65, while WTI crude oil futures for November delivery increased by 0.81% to $90.36 and November London Brent crude oil futures rose 0.36% to $93.64.

Currency exchange rates remained relatively stable, with the EUR/USD pair unchanged at 1.06 and the USD/JPY pair rising by 0.55% to 148.38. The U.S. dollar index futures were up 0.23%, trading at 105.29.

Overall, the stock market closed with losses on Friday, driven by declines in key sectors. Investors will be closely watching the market in the coming weeks as they navigate ongoing uncertainties and monitor company earnings reports.

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