Stocks tumbled into the close on Friday, as investors weighed the impact of tariffs on inflation and sentiment. The Dow plunged over 444 points for a third consecutive weekly loss, while the S&P 500 and Nasdaq each notched their second straight week in the red, with the tech-heavy latter shedding triple digits today.The University of Michigan’s lackluster consumer sentiment survey for February kickstarted the selloff, but the damage was exacerbated by President Trump, who announced reciprocal tariffs next week. Despite the downturn, Wall Street’s “fear gauge,” the Cboe Volatility Index (VIX) remained muted today.
GOLD MOVES HIGHER FOR 6TH-STRAIGHT WEEK
Oil futures moved away from their 2025 lows Friday, but still locked in a 2.1% weekly drop — their third-straight — as U.S. inventories rose. Additionally, investors wondered whether or not Trump’s higher tariffs on China would negatively impact economic growth and crude demand. For the session, March-dated West Texas Intermediate (WTI) crude gained 39 cents, or 0.6%, to settle at $71 per barrel.Gold prices rose Friday, locking in a sixth consecutive weekly gain, as bullion continues to shine amid higher tensions between the U.S. and China. For the day, the contract for February delivery last seen trading 0.7% higher at $2,897.50 an ounce.More By This Author:Stocks Move Lower As Consumer Sentiment Weighs Nasdaq, S&P 500 Log Third Consecutive WinDow Cools Off As Semiconductor Stocks Suffer
