* US stocks decline collectively, with Nasdaq down 3.65% for the week

* Musk: CrowdStrike has been removed from all systems

* Multiple bearish factors pressuring, European stocks plummet across the board

The market weighed the impact of the rotation in US stocks, and on Friday, US stocks closed lower collectively, marking the worst weekly performance since April.

As of the close, the Dow Jones Industrial Average fell 377.49 points, or 0.93%, to 40,287.53; the S&P 500 index fell 39.59 points, or 0.71%, to 5,505.00; the Nasdaq fell 144.28 points, or 0.81%, to 17,726.94; the Russell 2000 index, which tracks small-cap stocks, fell 13.94 points, or 0.63%, to 2,184.35.

Summing up the week, the US stock market showed a divided trend, with the Dow Jones Industrial Average up 0.72%, the S&P 500 index down 1.97%, the Nasdaq down 3.65%, and the Russell 2000 index up 1.03%. Glen Smith, CEO of GDS Wealth Management, believes that the US stock market is experiencing a long overdue rotation, with investors withdrawing funds from large-cap technology stocks that have performed well and shifting funds to other areas of the market.

Market analysis also points out that next week is crucial for the short-term trend of US stocks. Many large technology companies will release their earnings reports; if the earnings are strong, coupled with a decline in inflation, it may reverse the recent weakness in the market and drive a new round of increases. The strategy team at Bank of America stated that investors are flocking to the US stock market because they are increasingly convinced that the Federal Reserve will cut interest rates before September, and that Trump will win the US presidential election.

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Musk: The biggest IT failure in history

CrowdStrike, a cybersecurity company, fell 11.10%. The company's software update had a vulnerability that caused Microsoft Windows systems to crash, leading to IT system outages in multiple countries, which in turn led to the suspension of flights in many European and American countries and market chaos. The company's stock once plummeted by 15% during the trading day, and then the decline narrowed. Microsoft fell 0.74%.

CrowdStrike CEO George Kurtz said on social media that the issue has been identified and a fix has been deployed, adding that this is not a security event or cyberattack.Tesla founder Musk stated on social media, "CrowdStrike has been removed from all systems." He later added, "Unfortunately, many of our suppliers and logistics companies are using it."

The London Stock Exchange Group reported that its Workspace news and data platform, as well as its currency spot and forward prices, were affected by disruptions caused by "third-party global technical issues." A spokesperson for FTSE Russell, a subsidiary of the London Stock Exchange Group, indicated that its real-time platform was impacted, preventing clients from accessing and receiving data.

The European Energy Exchange noted that customers using the Trayport platform for electricity and natural gas trading encountered issues due to infrastructure problems with a third-party service provider.

Several European airlines and airports experienced flight delays and disruptions, with one of Europe's busiest airports, Amsterdam Schiphol, acknowledging the impact, while Spain's national airline stated that airports were forced to resort to manual operations before electronic check-in counters and online check-in were restored.

Flight tracking website FlightAware reported that, as of Friday morning Eastern Time, over 27,000 flights worldwide had been delayed, and 2,800 flights had been canceled.

However, by the time the U.S. market opened, everything began to return to normal. Both the New York Stock Exchange and NASDAQ reported that market operations were functioning normally. Major U.S. banks such as Bank of America and Goldman Sachs stated that their systems or businesses had not been significantly affected.

Several leading tech stocks closed lower. Tesla fell 4.02%, according to Business Insider, which cited sources familiar with the matter, reporting that Tesla halted some production lines in Texas and Nevada due to a global IT outage. The media, citing an internal Tesla email, stated that Tesla informed employees on Friday morning of failures in Windows hosts, servers, laptops, and production equipment, with users seeing blue screens on their devices.

Chinese concept stocks showed mixed performances. Zhihu surged 9.15% after the company announced a voluntary conditional cash repurchase of up to 46,921,448 Class A ordinary shares at a premium of HKD 9.11 per share (USD 3.50 per American Depositary Share), representing approximately 15.9% of the company's shares. New Oriental rose 3.16%, XPeng Motors increased by 1.20%, Gaotu gained 1.04%, and Pinduoduo was up 0.73%. On the downside, iQIYI fell 3.98%, Bilibili dropped 3.53%, Weibo declined 3.16%, Li Auto fell 2.29%, Futu Holdings dropped 2.08%, Alibaba decreased by 1.66%, and NIO fell 1.65%.

International oil prices declined. The near-month contract price for U.S. WTI crude oil futures fell by 3.25%, closing at USD 80.13 per barrel; the near-month contract price for Brent crude oil futures fell by USD 2.48, a decrease of 2.9%.

European stocks plummeted across the board due to multiple bearish factors.European stock markets also saw a universal decline. By the close, the German DAX index fell by 1.00%, the Euro Stoxx 600 index fell by 0.77%, the French CAC 40 index fell by 0.69%, and the UK's FTSE 100 index fell by 0.60%.

Looking at the weekly performance, the European stocks fared even worse. The German DAX index accumulated a decrease of 3.07%, the Euro Stoxx 600 index accumulated a decrease of 2.68%, the French CAC 40 index accumulated a decrease of 2.46%, and the UK's FTSE 100 index accumulated a decrease of 1.18%.

Overall, the bearish factors include, first, the weak second-quarter earnings reports from several European stocks this week; second, investors' concerns that the United States may implement stricter trade policies, which could impact European companies; and third, the performance of technology stocks during the day also contributed to the pressure on European stocks to some extent.