U.S. stocks close mixed following steep declines

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U.S. stocks close mixed following steep declines

2025-11-15 13:29 Last Updated At：14:14

U.S. stocks ended mixed on Friday following the market's steepest declines in a month.

The Dow Jones Industrial Average fell 309.74 points, or 0.65 percent, to 47,147.48, marking its second straight drop but still notching a weekly gain. The S and P 500 slipped 3.38 points, or 0.05 percent, to 6,734.11. The Nasdaq Composite Index rose 30.23 points, or 0.13 percent, to 22,900.59, snapping a three-day losing streak.

Seven of the 11 primary S and P 500 sectors finished lower, with materials and financials leading the laggards, down 1.18 percent and 0.97 percent, respectively. Energy and technology outperformed, advancing 1.37 percent and 0.74 percent, respectively.

The tech trade regained some footing after several days of pressure. AI leaders Nvidia and Oracle rebounded from their losses in the prior session, as did Palantir Technologies and Tesla, both of which had dropped more than 6 percent on Thursday.

Those sharp declines had briefly put the Nasdaq on course to break its seven-week winning streak, but Friday's recovery lifted the index back into positive territory for the week. Concerns about the sustainability of the AI rally have intensified, with the recent rout in cloud-computing giant Oracle heightening worries over stretched valuations, heavy reliance on debt financing, and soaring capital expenditure plans across the sector.

"AI is truly testing the limits of Wall Street spreadsheets right now," David Krakauer, vice president of portfolio management at Mercer Advisors, told CNBC, adding that investors pricing in "so much of this future growth that they really can't measure yet" just spurs an "environment of swings."

Adding to the market unease, traders continued to assess the Federal Reserve's upcoming policy decision. Market pricing now puts the odds of a quarter-point rate cut in December at below 50 percent, which is sharply lower than the roughly 95 percent probability seen a month ago, according to the CME FedWatch Tool.

Over 30 Chinese nationals evacuated from Iran arrive in Urumqi

A total of 33 Chinese nationals who had been working in Iran arrived safely in Urumqi, the capital of the Xinjiang Uygur Autonomous Region, on Wednesday, after Chinese authorities helped to evacuate them from the war-torn country.

After the regional crisis was sparked by joint U.S. and Israeli military strikes on Iran on Feb. 28, Chinese authorities have been working to assist nationals stranded overseas amid the worsening situation in the Middle East.

Following extensive coordination by Chinese diplomatic missions, the evacuees were rerouted on a China Southern Airlines flight from Azerbaijan back to China.

Upon arrival, the Urumqi Immigration Inspection Station activated a dedicated "green channel" to ensure their fast and efficient clearance, easing their journey home after their traumatic experience.

"At first, I was really anxious. With the help of the embassy staff, we all made it back home safely. I feel truly relieved and happy," said Tian Heguo, one of the Chinese evacuees.

"We aim to show our care through thoughtful service, streamlining the inspection process, and easing anxieties with patient and calm communication. Our goal is to make every returnee feel the warmth and comfort of home the moment they set foot on Chinese soil," said Zhao Zijing, a captain for the Third Duty Team at the Urumqi Immigration Inspection Station.