US Markets Close Lower Amid Trade Tensions

This Friday, the US stock markets closed in the red, marking a week of significant volatility. The markets were rattled by the latest tariff announcements affecting key trading partners such as Canada, Mexico, and China. Additionally, investor sentiment was influenced by earnings reports from major companies including Alphabet, Disney, Uber, and Amazon, alongside disappointing nonfarm payroll data.

President Trump Hints at Reciprocal Tariffs

Just before the market closed, President Donald Trump hinted at a potential announcement regarding reciprocal tariffs, signaling a meeting early next week. This has kept market participants on edge, closely monitoring developments on the trade front.

Market Performance

The Dow Jones Industrial Average fell by 0.99%, with significant losses from Nike Inc. and Amazon.com Inc. The Nasdaq 100 saw a sharp decline of 1.30%, led by Marvell Technology Inc. The S&P 500 also dropped by 0.95%, with Ulta Beauty Inc. experiencing a notable decrease. Meanwhile, the euro traded lower against the dollar, selling for $1.03273 at 3:58 pm ET.