US stocks pulled back on Friday as markets assessed how the corporate sector will fare against a longer period of high interest rates and potential tariffs against the EU and China.
The S&P 500 and the Dow were each 0.7% lower and the Nasdaq 100 lost nearly 1%, tracking another session of sharp selling for US Treasuries. The Magnificent 7 continued to trade in volatile fashion as Meta, Amazon, and Tesla lost between 2% and 0.7%.
The view of a resilient US economy added to the fallout of hawkish projections by the FOMC as rate futures showed that a large portion of the market only sees one 25bps rate by next year.
Still, strong performances for the tech sector earlier in the week supported broader US stock indices to be set for weekly advances.
The S&P 500 and the Nasdaq 100 are set to gain 28% and 31% this year, carried by the rally for chip producers amid speculative bets for future AI technology. The broader Dow Jones is due to underperform, but still gain 16% this year.
Sumber : Trading Economics
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