New York:Wall Street's major indices closed lower on Friday, with the Dow Jones Industrial Average experiencing a significant drop of 658.82 points, or 1.23 percent, ending at 52,215.16.

According to Wam, the SandP 500 saw a decline of 39.75 points, or 0.52 percent, closing at 7,623.86. The Nasdaq Composite also fell by 53.52 points, or 0.21 percent, to finish at 25,955.34.

For the week, the SandP 500 decreased by 0.5 percent, and the Nasdaq declined by 0.7 percent. However, the Dow Jones managed a rise of 0.4 percent, marking its third consecutive week of gains.