US equity markets closed Friday lower following the latest batch of economic data and the lingering concerns about potential rate hikes.

Previously the University of Michigan said that Consumer Sentiment Index in the country came in at 59.1 in December, rising by 4% month on month. Moreover, the country's Census Bureau said also today, wholesale inventories stood at $923.8 billion, increasing 0.5% month over month.

At the close, the Dow Jones lost 305 points or 0.90%, with Chevron down by 3.22%. The Nasdaq 100 fell 0.64%, while Lululemon Athletica decreased by 12.85%. The S&P 500 declined 0.73%, as Schlumberger dropped by 5.96%.

The euro was down by 0.20% against the dollar at 3:57 pm ET, selling for $1.05342.