The specialist trader works in a post on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters
The shares were sold on Friday. New US data has raised concerns among investors about economic decline and sticky inflation, leading them to seek safer assets.
The losses have intensified as traders could bring another headline barrage from the Trump administration, fearing they would stay longer over the weekend.
Dow Jones Industrial Average They lost 748.63 points (1.69%) and closed at 43,428.02. The worst Friday decline in a young age brought the two-day loss to about 1,200 points. S&P 500 He slid 1.71% to finish at 6,013.13, marking his second negative session after the index closed on Wednesday’s record. Nasdaq Composite It dropped 2.2% and settled at 19,524.01.
A series of data raised new economic concerns and sent investors to bonds. The University of Michigan Consumer Sentiment Index fell to 64.7 in February, about 10% lower than expected, with an expected drop, as consumers raised concerns about higher inflation ahead of the possibility of new tariffs It has become. The survey’s five-year inflation outlook was 3.5%, the highest since 1995. Additionally, existing home sales in the US fell to 4.08 million units more than expected last month. According to S&P Global, the index of US service purchasing managers also fell to the contraction area in February.
Walmart The stock fell 2.5%, marking a decline on the second day after issuing forecasts that were weaker than forecasts that also worsened consumer and economic outlooks.
Prominent investor Steve Cohen shared some negative comments about the market and economy from a meeting in Miami.
“It’s definitely a time when you think you’ve got the best benefits and (it’s) won’t be surprised to see any significant fixes,” Cohen said. Reducing effort.
Investor’s favorites such as nvidia and Palantir Slow losses were seen on Friday as traders shifted to traditionally safer assets. Proctor & Gamble Meanwhile, it rose 1.8% General Mills and Craft Heinz Each went over 3%.
This week, the S&P 500 slides about 1.7%, while the Dow and Nasdaq both lost 2.5%.
“All of the top 20 performers in the S&P 500 today are from all defence sectors of consumer staples, utilities and healthcare,” said Larry Tentarelli, Chief Technical Strategist and Founder of Blue Chip Daily Trend Report. It states. “When concerns about economic growth appear, investors often turn to these so-called defensive sectors.”
Fix: For the latest release of the University of Michigan Consumer Sentiment Index, an earlier version misrepresented the month.
