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Indonesia News Portal for Traders | Financial & Business Updates

8 February 2025 04:12  |

Wall Street Tumbles Amid Tariff Threats and Inflation Concerns

US stocks declined on Friday as investors responded to the potential for additional tariffs from the Trump administration, while also processing a surge in inflation expectations and a jobs report.

The S&P 500 and Nasdaq lost 0.9% and 1.3%, respectively, while the Dow Jones dropped 443 points. Markets took a sharp downturn after reports suggested President Trump was considering reciprocal tariffs, which could lead to higher rates on US trading partners.

Adding to investor anxiety, the University of Michigan’s consumer sentiment report revealed that one-year inflation expectations surged to 4.3%, the highest since November 2023. Meanwhile, the January jobs report showed the US economy added 143K jobs, slightly below expectations, but the unemployment rate ticked down to 4.0%.

Amazon shares slumped 4% after issuing weak revenue guidance, overshadowing its strong quarterly earnings. For the week, the S&P 500 and Nasdaq added 1.5% each, the Dow gained 0.8%.

Source: Trading Economics

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