U.S. stocks fell on Friday, deepening a monthlong slump fueled by trade policy uncertainty, recession fears, and a tech sector downturn. The S&P 500 slid 0.8%, struggling to break a four-week losing streak, while the Dow Jones shed 300 points.
US stocks slip on Friday
The Nasdaq dropped 0.8%, on track for its longest weekly losing streak since May 2022. Earlier this week, the Federal Reserve held interest rates steady but reaffirmed its forecast for two rate cuts this year, even as it raised its inflation outlook and lowered economic growth projections, reflecting concerns over slowing momentum in the economy. Investors are also bracing for President Trump’s reciprocal tariffs, set to take effect in April, which could further disrupt global trade and add to the uncertainty. The potential for escalating trade tensions has left many market participants on edge, particularly in sectors most vulnerable to tariff-related disruptions.
Who's up and down
Among individual stocks, FedEx plunged over 10% after slashing its full-year guidance, citing “continued weakness and uncertainty” in the economy. The logistics giant’s struggles are seen as a signal of broader economic challenges, particularly in global trade volumes. Nike dropped nearly 9% after warning of a sales decline this quarter, as higher costs and a slowdown in consumer demand weighed on its outlook. Meanwhile, Danaher rose 0.3% following an upgrade to "buy" from Goldman Sachs, highlighting its strong performance in the healthcare sector despite the broader market pullback. As the market navigates these headwinds, analysts continue to warn that further volatility may be ahead, with trade tensions and inflationary pressures serving as major sources of concern for both investors and consumers.
