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Nasdaq sees 4th weekly fall despite best record since March 11

Major indexes in the US stocks market closed Friday higher to bounce back from previous losses earlier in the week.

The Dow Jones was up 360 points, or 1%, to 34,382 with major investment banks Goldman Sachs and Morgan Stanley adding nearly 3% apiece.

The S&P 500 increased 1.5%, to 4,173 with Tesla soaring 3%. the Nasdaq added 304, or 2.3%, to 13,430 as Uber and Zoom Video jumped 6% each. The tech-heavy index recorded its best daily performance since March 11.

On a weekly basis, however, the Dow was down 1.1%, while the S&P 500 shed 1.4% and the Nasdaq lost 2.3% for a fourth consecutive weekly decline.

The indexes plummeted during the first three trading days of the week days after the World Health Organization said Monday it was reclassifying the triple-mutant coronavirus variant in India a concern, indicating it has become a global health threat, which caused worries among investors.

The VIX volatility index, however, managed to recover Friday to 20.12 level with a 13% decline. The yield on 10-year US Treasury bonds was also down 2.2% to 1.632%.

Source: Anadolu Agency