Major US stock markets ended in red territory on Friday, capping a turbulent week marked by tariff announcements involving trading partners like Canada, Mexico, and China. Investor sentiment was also shaped by earnings from major firms, including Alphabet, Disney, Uber and Amazon, alongside weaker-than-expected nonfarm payroll data.
A bit before the markets closed, President Donald Trump indicated plans for a meeting on reciprocal tariffs early next week, hinting at a potential announcement. Market participants will keep on focusing on developments on the trade front.
The Dow Jones Industrial Average index tumbled 0.99% or 444 points, with Nike Inc. losing 4.27% and Amazon.com Inc. dropping 4.05%. The Nasdaq 100 nosedived 1.30% as Marvell Technology Inc. fell by 7.23%. The S&P 500 plummeted 0.95% with Ulta Beauty Inc. losing 6.68%. The euro traded 0.59% lower compared to the dollar at 3:58 pm ET, to sell for $1.03273.
