Market Ends Flat Amid Trade Tensions and Crypto Legislation

Investors showed little reaction to escalating trade tensions and new cryptocurrency legislation, with Wall Street closing flat to lower on Friday. President Donald Trump's latest demand for a 15-20% tariff on all EU goods has raised concerns, despite the market's subdued response.

Trump's Tough Stance on EU Tariffs

According to reports, President Trump has rejected Brussels' offer to reduce car duties, insisting on maintaining the current 25% automotive tariff. This move signals a hardening of the U.S. position in trade negotiations with the EU.

GENIUS Act Signed Into Law

In a significant development for the cryptocurrency sector, President Trump signed the GENIUS Act, marking the establishment of the first federal framework for stablecoins. This legislation is expected to bring more clarity and stability to the crypto market.

Looking Ahead

Next week, the market's attention will shift to earnings reports from major companies, including Alphabet, Tesla, and Intel. These results could provide further direction for investors in an otherwise uncertain environment.

At the close, the Dow Jones Industrial Average was down 0.32%, with the Nasdaq 100 and the S&P 500 ending the day flat. The euro saw a slight gain against the dollar, trading at $1.16215.