Canada's main stock index closed lower on Friday after hitting a fresh record high the previous day. The S&P/TSX composite index fell 0.48% to 34,334.74, retreating from Thursday's 1.1% gain that pushed it to 34,501.96. Solid bank earnings and rising gold prices had supported the key financial sector in the prior session.

U.S. markets also declined, with the S&P 500 down 0.8% to 6,856.99 and the tech-heavy NASDAQ Composite falling 1.2% to 22,608.85. The Dow Jones Industrial Average dropped 1.2% to 48,887.75. Apple weighed heavily on Wall Street, sliding over 5% despite strong quarterly earnings amid questions about shareholder returns.

Netflix shares surged more than 6% after the streaming giant declined to match Paramount Skydance's latest $31-per-share offer for Warner Bros. Discovery. The company called the deal "no longer financially attractive" but will receive a $2.8 billion termination fee if Warner chooses Paramount's bid. Elsewhere, Block soared 18% after announcing plans to cut over 4,000 jobs as part of an AI overhaul.