U.S. stocks close lower

U.S. stocks ended lower on Friday.

The Dow Jones Industrial Average fell by 119.38 points, or 0.26 percent, to 46,558.47. The Standard and Poor's 500 sank 40.43 points, or 0.61 percent, to 6,632.19. The Nasdaq Composite Index shed 206.62 points, or 0.93 percent, to 22,105.36.

Six of the 11 primary Standard and Poor's 500 sectors ended in red, with technology and materials leading the laggards by going down 1.29 percent and 1.04 percent, respectively. Meanwhile, utilities and consumer staples led the gainers by rising 0.94 percent and 0.54 percent, respectively.

At the invitation of the government of the Republic of the Union of Myanmar, Jiang Xinzhi, Chinese President Xi Jinping's special envoy and vice chairperson of the National Committee of the Chinese People's Political Consultative Conference, attended the inauguration ceremony of Myanmar's President Min Aung Hlaing in Naypyidaw on Friday.

Min Aung Hlaing met with Jiang on the same day.

Noting that the pauk-phaw (fraternal) friendship between China and Myanmar has a long history, Jiang said the two countries have long enjoyed a harmonious relationship and mutual assistance, which fully demonstrates the profound significance of the China-Myanmar community with a shared future. China supports Myanmar in pursuing a development path that suits its own national conditions, Jiang said, adding that the country is willing to work with Myanmar to deepen high-quality Belt and Road cooperation, maintain stability along the China-Myanmar border, and ensure the safety of Chinese personnel and projects in Myanmar.

For his part, Min Aung Hlaing expressed gratitude for China's long-term and valuable assistance to Myanmar's economic and social development.

Myanmar firmly adheres to the one-China principle and supports the four global initiatives proposed by China, Min Aung Hlaing said.

The president pledged that Myanmar would make every effort to ensure China's security interests in the country, and expressed Myanmar's willingness to deepen practical cooperation with China across various fields.