FX.co ★ US Stocks Lower on Friday

On Friday, the S&P 500 declined by 0.5%, and the Nasdaq decreased by 0.3%, following record-setting highs from the previous day. Meanwhile, the Dow Jones Industrial Average fell by nearly 300 points, as investors assessed renewed tariff threats from the Trump administration. The US President announced a 35% tariff on Canadian imports starting August 1st and indicated plans to impose more extensive tariffs of 15% to 20% on most other trading partners, up from the current 10% rate. Formal notification of the applicable tariff rates is anticipated to be sent to the European Union soon. At the same time, traders are preparing for the upcoming earnings season next week, alongside critical economic indicators, including the Consumer Price Index (CPI). All sectors reported losses, with materials and health sectors leading the decline. Among megacap stocks, performance was mixed: Microsoft (-0.4%), Apple (-0.8%), Meta (-1.4%), Broadcom (-0.6%), Alphabet (-0.3%), and Tesla (-0.8%) closed in negative territory, while Nvidia (0.6%) and Amazon (0.7%) posted gains. Over the week, the S&P 500 and Nasdaq experienced marginal changes, while the Dow decreased by 0.4%.