Market

Wall Street Ends Week in Decline Amid Trade Tensions and Fed Rate Cut Speculations

Market Turbulence Over Trade Policies

This Friday, Wall Street witnessed a downturn as trading concluded, marking a week filled with volatility. The uncertainty stemmed from President Donald Trump's decision to impose tariffs on several foreign nations, sparking concerns over global trade relations.

Federal Reserve's Stance on Rate Cuts

Amid the trade tensions, Federal Reserve officials hinted that the newly introduced tariffs could lead to a postponement in anticipated rate cuts. Adding to the market's unease were rumors of Fed Chair Jerome Powell considering resignation, following continuous criticism from President Trump.

Stock Performance Highlights

The Dow Jones fell by 0.63%, with Nike experiencing a significant drop of 2.62%. The Nasdaq 100 saw a slight decrease of 0.21%, influenced by Atlassian's 6.52% plunge. Meanwhile, the S&P 500 retreated by 0.33%, as PayPal's shares dropped 5.73%.

In currency markets, the euro slightly weakened against the dollar, trading at 1.16889 by 3:59 pm ET.