US Stocks Lower
US stocks fell on Friday, with the S&P 500 down 0.5%, the Nasdaq losing 0.2% and the Dow Jones dropping 580 points, extending the previous session’s sharp sell-off. Safe-haven sentiment continued to prevail amid elevated oil prices and mounting concerns over a potential escalation of hostilities in the Middle East. Industrials, communication services and consumer discretionary stocks led the declines. Microsoft slipped 0.5% and Meta fell 1.9%, while American Express dropped 1.7% despite reporting better-than-expected earnings. Meanwhile, the rotation away from AI-related stocks continued, albeit at a slower pace, as chipmakers attempted to rebound and the technology sector traded around the flatline. For the week, the S&P 500 was little changed, while the Nasdaq Composite was down 0.5%. By contrast, the Dow Jones was on track for a weekly gain of around 1.7%.
US stocks fell on Friday, with the S&P 500 down 0.5%, the Nasdaq losing 0.2% and the Dow Jones dropping 580 points, extending the previous session’s sharp sell-off. Safe-haven sentiment continued to prevail amid elevated oil prices and mounting concerns over a potential escalation of hostilities in the Middle East. Industrials, communication services and consumer discretionary stocks led the declines. Microsoft slipped 0.5% and Meta fell 1.9%, while American Express dropped 1.7% despite reporting better-than-expected earnings.
Meanwhile, the rotation away from AI-related stocks continued, albeit at a slower pace, as chipmakers attempted to rebound and the technology sector traded around the flatline. For the week, the S&P 500 was little changed, while the Nasdaq Composite was down 0.5%. By contrast, the Dow Jones was on track for a weekly gain of around 1.7%.