NEW YORK, New York - A strong jobs report failed to lift industrial stocks Friday, but the tech sector gained ground with renewed interest in AI stocks.

"Total nonfarm payroll employment rose by 165,000 in October, and the unemployment rate changed little at 4.1 percent," the U.S.

Bureau of Labor Statistics said in a statement Friday.

"Employment increased in professional and business services, in health care, and in transportation and warehousing."Friday's action in equity markets followed the worst one-day losses in 18 months a day earlier.

"The scale of the falls in some of the market's biggest names has been striking.

But it also highlights the concentration risk that has built up in U.S.

equity markets," Stuart Clark, portfolio manager at Quilter, told CNBC Friday.

"With a relatively small number of technology and semiconductor stocks now carrying so much weight, weakness in those names quickly translates into sizeable falls for the Nasdaq and S&P 500." The Standard and Poor's 500 closed at 7,376.86, Friday, up 23.13 points or 0.31 percent, on volume of 3.343B.

The benchmark index traded between 7,369.55 and 7,444.20 during the session, within a 52-week range of 6,316.91 to 7,844.52.

The NASDAQ Composite was the day's standout performer, closing at 24,579.42, a gain of 264.43 points or 1.09 percent, on volume of 8.391B.

It traded between 24,507.63 and 24,825.55, within a 52-week range of 20,690.25 to 27,722.75.

The Dow Jones Industrial Average bucked the trend, closing at 51,285.73, down 237.33 points or 0.46 percent, on volume of 514.683M.

The blue-chip index moved between 50,992.61 and 51,662.26 on the day, within a 52-week range of 45,057.28 to 54,744.33.

The split performance on Wall Street reflected a rotation into growth-oriented technology names at the expense of some industrial and defensive components that weigh more heavily on the Dow.

The Nasdaq's outperformance marked a sharp contrast with the previous session's global equity selloff, which had seen steep declines across Asian and European markets.

With the S&P 500 and Nasdaq both finishing in the green, the session offered a measure of relief for U.S.

investors heading into the weekend, even as the Dow's decline underscored the uneven nature of the recovery.

Dollar Strengthens Broadly Friday, as Euro, Yen, Sterling and Commodity Currencies Sink The U.S.

dollar advanced against every major counterpart on Friday, as investors piled into the greenback amid a broad risk-off tone in global markets.

The euro weakened to 1.1137 against the dollar, a decline of 0.73 percent on the day.

The single currency's slide came as European equities closed lower across the board, with the DAX and EURO STOXX 50 both suffering sharp losses.

The dollar also gained ground on the Japanese yen, with USD-JPY rising 0.49 percent to 158.48.

The pair's move higher came despite a steep selloff in Tokyo equities, where the Nikkei 225 plunged nearly 6 percent.

Sterling was among the day's bigger losers against the dollar, with GBP-USD falling 0.76 percent to 1.3348, as the pound tracked weakness in European risk assets.

The Australian dollar slipped 1.00 percent to 0.6862 against the greenback, weighed down by the softer session across Asia-Pacific markets, where Sydney's S&P/ASX 200 and the broader All Ordinaries both closed lower.

The dollar also strengthened against the Canadian dollar, with USD-CAD up 0.83 percent to 1.4136, and against the Swiss franc, where USD-CHF rose 0.53 percent to 0.8209.

Traders said the dollar's across-the-board gains reflected demand for liquid, safe-haven assets as equity markets from Tokyo to Frankfurt posted steep declines.

The greenback's advance was particularly notable against the Aussie and the loonie, both of which are sensitive to global growth sentiment.

With the dollar firmer against all six major counterparts tracked, the session marked a clean sweep for the U.S.

currency heading into the weekend.

Global Stock Markets Diverge as Asian Losses Offset Gains in India and Israel World stock markets closed Friday's session with a distinctly mixed picture, as steep declines across much of Asia, the UK, and Europe were partly offset....