The Nasdaq closed Friday's shorter session lower with pressure from Apple Inc , while the dollar gained as investors shied away from risk as they worried about consumer spending and monitored China's reaction to a resurgence of COVID cases. Frustration simmered among residents and business groups in China as the government set stricter COVID-19 control curbs just weeks after hopes for easing restrictions had been raised. And market heavyweight Apple's shares were weighed down by concerns about its manufacturer Foxconn.
The Nasdaq was lower on Friday with pressure from Apple Inc while the dollar gained and U.S. Treasury yields rose as investors shied away from riskier bets. This added to optimism from earlier this month when data U.S. October inflation was cooler than expected.
Bearish sentiment is building in oil markets as China's covid crisis continues, U.S. oil inventories build, and the oil price cap faces questions