FX.co ★ US Stocks Poised to Finish Week in the Red

The S&P 500 experienced a 0.6% decrease, the Nasdaq fell by 0.9%, and the Dow Jones dropped over 200 points on Friday, compounding the losses from the previous session and signaling another weekly downturn. Investor caution is fueled by ongoing concerns regarding AI stock valuations and uncertainty surrounding the Federal Reserve's impending interest rate decisions. This hesitancy is exacerbated by divisions among policymakers and anxieties about the labor market. The continuing government shutdown has also impeded the release of critical economic data, including today's anticipated jobs report. The technology sector took the hardest hit, followed by consumer discretionary stocks, while consumer staples demonstrated relative resilience. Nvidia saw a 2.4% decline, marking its fourth consecutive day of losses. Other major technology companies also reported losses, with Apple down 0.3%, Amazon decreasing by 1.2%, Meta falling by 1%, Alphabet declining by 1.5%, Broadcom dropping 2.5%, and Oracle decreasing by 3%. Tesla fell 4.4% following shareholder approval of Elon Musk’s potential $1 trillion compensation package. Over the week, the S&P 500 decreased by 1.8%, the Dow Jones fell by 1.4%, and the Nasdaq was down by 2.8%.