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US Stock Markets Close Mixed as Tech Sector Faces Challenges

New York:US stock markets ended with mixed results on Friday, influenced by the resignation of Nvidia CEO Jensen Huang and rising bond yields affecting technology shares.

According to Anadolu Agency – English, the Dow Jones Industrial Average saw a modest increase of 50.46 points, or 0.1%, reaching 52,347.55. In contrast, the S&P 500 fell by 0.4%, or 30.73 points, to 7,561.67, while the Nasdaq Composite dropped 0.91%, or 229.82 points, closing at 25,136.27.

The technology sector was notably impacted following the departure of Nvidia's chief executive amid personal conduct and national security issues. Additionally, Microsoft encountered global service disruptions. The Volatility Index (VIX), known as the market's "fear index," increased by 3.48% to 19.35. Higher US Treasury yields, with the 10-year yield surpassing 5.1%, further reduced risk appetite as traders anticipated tighter Federal Reserve monetary policies.

In other developments, investors considered October's cooler producer price inflation data alongside stable oil prices. The international benchmark Brent crude traded close to $96.35 per barrel, while the US benchmark West Texas Intermediate (WTI) was around $89.2 per barrel as of 2130GMT. This comes a day after US President Donald Trump stated that Washington no longer requires an agreement with Iran.

European stock markets displayed mixed results, with most major indexes ending positively. The pan-European Stoxx Europe 600 index marginally increased by 0.02% to 664.14 points. The FTSE 100 in Britain grew by 0.36% to 10,902.56, France's CAC 40 rose 0.09% to 8,368.91, Italy's FTSE MIB added 0.10% to 51,858.51, and Spain's IBEX 35 climbed 0.27% to 20,020.10. Conversely, Germany's DAX 40 decreased by 0.08% to close at 26,749.95.