Major indices on the US stock market closed lower on Friday and posted weekly losses. 

The Dow Jones fell 348 points, or 1.05%, to close at 32,899. The blue-chip index lost 1% this week.

The S&P 500 declined 68, or 1.63%, to end the day at 4,108. It fell 1.2% on a weekly basis.

The Nasdaq plummeted 304 points, or 2.47%, to finish at 12,012. The tech-heavy index decreased 1% for the week.

The VIX volatility index, also known as the fear index, was up 0.36% to 24.81.

The dollar index rose 0.3% to 102.11 and the 10-year US Treasury yield added 1.1% to 2.950%.

Precious metals reversed course, with gold losing 1% to $1,850 and silver falling 1.6% to $21.94.

Crude prices were up around 3%. Global oil benchmark Brent crude was trading at $121.26 for a 3.1% gain, while US benchmark West Texas Intermediate was at $120.28 -- a 2.9% increase./aa