Market Turbulence Due to Trade Tariffs and Earnings Reports

This Friday, the US stock markets experienced a significant downturn, closing in the red after a week filled with volatility. The primary drivers behind this instability were the latest tariff announcements affecting key trading partners such as Canada, Mexico, and China. Additionally, the market sentiment was influenced by the earnings reports from major corporations including Alphabet, Disney, Uber, and Amazon, alongside disappointing nonfarm payroll data.

President Trump's Upcoming Announcement on Reciprocal Tariffs

Shortly before the market closure, President Donald Trump hinted at a potential announcement regarding reciprocal tariffs, scheduled for early next week. This statement has kept market participants on edge, closely monitoring any developments on the trade front that could impact market dynamics.

Indexes and Stocks Performance

The Dow Jones Industrial Average index saw a decrease of 0.99%, falling by 444 points, with notable declines in Nike Inc. and Amazon.com Inc. The Nasdaq 100 and S&P 500 also experienced significant drops, with Marvell Technology Inc. and Ulta Beauty Inc. among the hardest hit. Meanwhile, the euro weakened against the dollar, trading 0.59% lower at $1.03273 by late afternoon ET.