US Stocks Wobble, Nasdaq Posts Worst Month Since 2023
The S&P 500 held near the flatline, the Nasdaq fell about 0.6% and the Dow Jones rose nearly 90 points on Friday, with the technology sector remaining under pressure and traders digesting the latest PCE report and rising trade tensions. Nvidia shares fell 2%, extending the previous session’s selloff after its quarterly results failed to impress investors.
Also, Broadcom fell 0.8%, Tesla dropped 0.9% and Oracle dropped 2%. Meanwhile, PCE price data matched expectations, with annual interest rates edging down slightly. That provided some relief from inflationary pressures and strengthened market bets for about two quarter-point cuts in the Fed funds rate this year. On the trade front, U.S. tariffs on imports from Mexico and Canada, along with an additional 10% duty on Chinese imports, are set to take effect next week. In February, the S&P 500 fell 2.9%, the Nasdaq plunged 5.3%, marking its worst month since September 2023, and the Dow Jones fell 0.2%.
Source: Trading Economics
