US Stock Markets End Week in Red Amid Trade Turmoil

This Friday, major US stock markets closed lower, reflecting a week filled with volatility due to new tariff announcements affecting key trading partners such as Canada, Mexico, and China. Investor sentiment was further influenced by the latest earnings reports from major corporations including Alphabet, Disney, Uber, and Amazon, alongside disappointing nonfarm payroll data.

President Trump Hints at Reciprocal Tariffs

As the markets were nearing closure, President Donald Trump suggested an upcoming meeting on reciprocal tariffs, signaling a potential announcement next week. This has kept market participants on edge, closely monitoring any developments on the trade front.

Market Indices and Currency Movements

The Dow Jones Industrial Average saw a significant drop of 0.99%, with notable losses from Nike Inc. and Amazon.com Inc. The Nasdaq 100 experienced a sharp decline of 1.30%, led by Marvell Technology Inc. Similarly, the S&P 500 fell by 0.95%, with Ulta Beauty Inc. taking a substantial hit. In currency news, the euro weakened against the dollar, trading 0.59% lower at $1.03273 by 3:58 pm ET.