Wall Street Ends The Week On A Low

US markets have closed lower, after earnings reports from large banks sparked a sell-off in financial shares.

The Dow Jones was down 0.5 percent at 24,360. The S&P 500 lost 0.3 percent at 2,656, while the Nasdaq fell 0.5 percent to 7,106.

European stocks ran into profit-taking as many investors, wary of global uncertainty and US President Donald Trump's volatile Twitter diplomacy, cashed out before the weekend, traders said.

Bourses in Paris and Frankfurt had posted solid gains earlier in the session after Trump put off a decision about military strikes in Syria, giving investor nerves a welcome break.

Traders remain cautious heading into the weekend," said Craig Erlam at OANDA. "Given the backdrop of a trade conflict with China and rising tensions with Russia over Syria, any rallies may be somewhat gradual."

Jasper Lawler at LCG said despite the lacklustre ending to the week, European markets "have pulled off a third straight week of gains" crediting "Trump Twitter fatigue" for the overall resilience of equity markets. (AFP)