U.S. stock markets weighed by interest rate concerns; pharmaceutical and major tech stocks tumble

S&P 500: 5,870.62 (-1.3%)
DJIA: 43,444.99 (-0.7%)
Nasdaq-100: 20,394.13 (-2.4%)
Eurostoxx: 4,794.85 (-0.8%)
U.S. crude futures: 67.02 (-2.5%)

On Friday, U.S. indices closed lower on the back of interest rate concerns as October retail sales data came in slightly higher than expected. Meanwhile, stock markets reacted to cabinet picks by Donald Trump, to which vaccine maker stocks tumbled. The S&P 500 and Nasdaq-100 fell 1.3% and 2.4% respectively, as large cap tech stocks weighed on these indices, while the Dow Jones lost over 300 points. For the week, the three indices closed lower, erasing some gains from the election week.

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