(MENAFN- Qatar News Agency) New York, February 06 (QNA) - U.S. stocks declined broadly on Friday amid a massive drop in technology stocks and as mixed U.S. employment data raised concerns the Federal Reserve may raise rates this year.
The three major indexes opened slightly lower, with the Dow Jones industrial average briefly trying for gains, but closed 211.61 points lower.
The S&P 500 fell 35.40 points and was down 3.1% for the week its worst decline since the week ended January 8.
The Nasdaq composite fell 3.25 percent, as Apple and the iShares Nasdaq Biotechnology ETF (IBB) dropped 2.67 percent and 3.19 percent, respectively.
The Wall Street Journal Dollar Index, which measures the dollar against a basket of 16 currencies, rose 0.6% Friday but was down 1.9% for the week.
Meanwhile, oil prices continued to march lower. US crude oil fell 2.6% to $30.89 a barrel, bringing its weekly decline to 8.1%.
The Stoxx Europe 600 declined 0.9%. Markets in Asia closed mostly lower ahead of next week's Lunar New Year holiday. China's Shanghai Composite Index fell 0.6%, while Australia's S&P ASX 200 edged down 0.1%. Japan's Nikkei Stock Average fell 1.3%. (QNA)
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