NEW YORK: The Nasdaq Composite Index closed above 16,000 points for the first time on Friday, in its second-straight record finish powered by technology stocks, while pandemic jitters sent the Dow to its fourth losing session in the last five.

       Both the Nasdaq and S&P 500 index scored a winning week, up 1.2% and 0.3% respectively, after last week's declines snapped a five-week run of higher finishes.

       The Dow Jones Industrial Average's second-successive weekly loss - this one of 1.4% - wiped out the last of its November gains, extending the index's drop from a Nov. 8 record high to 2.3%.

       Friday's fall was caused by banking, energy and airline stocks slumping on fears that European countries, battling a resurgence of COVID-19 cases, could follow Austria in moving towards a full lockdown.

       Banking stocks fell 1.6%, tracking a drop in Treasury yields as investors snapped up safe-haven bonds. The S&P energy index dropped 3.9%, the worst performing sector, as crude prices fell on demand implications. [O/R] [US/]

       Carriers including Delta Air Lines, United Airlines and American Airlines, and cruiseliners Norwegian Cruise Line and Carnival Corp all dropped between 0.6% and 2.8%.- Reuters