U.S. stocks ended lower on Friday as investors reacted to President Donald Trump's latest tariff threats, sparking renewed concerns over inflation and global economic growth. Despite a strong session on Thursday, markets pulled back as uncertainty returned to the forefront.
Keypoints:
- Indexes Dip: Dow fell 0.6%, S&P 500 and Nasdaq down 0.3% and 0.2%.
- Trump's Tariff Threats: New import tariffs up to 35% announced for Canada and possibly 15–20% for other countries.
- Tech Stocks Mixed: Nvidia hit $4 trillion in market cap; Meta and Apple declined.
- Airlines Drop: American and United Airlines saw steep losses following prior gains.
- Bitcoin & Oil Rise: Bitcoin hit another record, oil rebounded, boosting Halliburton shares.
Market optimism faded Friday following President Trump's aggressive trade stance, which includes plans to implement steep tariffs on imports from over 20 countries by August. Investors, wary of the inflationary impact and potential economic slowdown, responded with caution. The declines erased some of Thursday’s gains, which had seen the Nasdaq and S&P 500 hit record highs.
Earlier this month: Elon Musk launches America Party after Trump signs historic spending "Bill"
Tech stocks showed mixed performance, with Nvidia and Amazon gaining ground, while Meta and Apple slipped. Airline shares, which surged after Delta's strong earnings report, reversed course and tumbled. Meanwhile, Bitcoin extended its rally to a third straight day, and oil prices rebounded, lifting energy stocks like Halliburton. Treasury yields and the U.S. dollar also rose, reflecting a cautious but active financial market.