Nasdaq's 8-week winning streak ends as global recession fears hit U.S. stocks.

US stocks ended lower on Friday, with the Nasdaq snapping an eight-week winning streak, as investors sought safety in bonds and the US dollar amid concerns that interest-rate hikes by central banks might harm global economic growth. The S&P 500 index was down 1.4%, the Dow industrials logged a weekly drop of 1.7%, and the Nasdaq fell 1.4%. The yield on the 10-year Treasury note fell 6 basis points to 3.737%, while crude prices fell 0.5% to $69.16 per barrel. Meanwhile, Bitcoin hit its highest level in a year after three financial services giants filed applications for spot bitcoin exchange-traded funds.