Wednesday, 01 October 2025
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Dow Plunges 700 Points In Worst Drop Of 2025 So Far: Live Updates
Saturday, 22 February 2025 04:03 WIB | MARKET UPDATE |SahamAS

Stocks sold off on Friday as fresh U.S. data fueled investor concerns about a slowing economy and high inflation, sending them seeking safer assets.

The losses deepened as traders worried about a weekend that could bring another barrage of headlines from the Trump administration, which has proposed a series of tariffs and other market-moving policy changes since taking office a month ago.

The Dow Jones Industrial Average fell 724 points, or 1.6%, bringing its two-day loss to more than 1,200 points. Friday's loss was its biggest of the year. The S&P 500 traded 1.6% lower, falling for a second day after closing at a record on Wednesday. The Nasdaq Composite fell more than 2%.

A slew of economic data raised fresh concerns about the economy and sent investors into bonds, sending yields tumbling. The University of Michigan's consumer sentiment index fell to 64.7 in January, a 10% drop and a sharper decline than expected as consumers voiced concerns about higher inflation from possible new tariffs. The survey's five-year inflation outlook was 3.5%, the highest since 1995. Additionally, U.S. existing home sales fell more than expected last month to 4.08 million units. The U.S. services purchasing managers' index also fell into contraction territory for February, according to S&P Global.

Walmart shares fell for a second day after the company issued a weaker-than-expected forecast that also soured the outlook for consumers and the economy.

Prominent investor Steve Cohen offered some negative comments on the market and economy from a conference in Miami.

"This is clearly a period where I think the best gains have been made and [I] wouldn't be surprised to see a significant correction," Cohen said, citing proposed tariffs that are dragging on the economy, as well as some government cost-cutting efforts.

Investor favorites such as Nvidia and Palantir suffered sharp losses Friday as they moved into traditionally safer assets. Procter & Gamble rose more than 1%, while General Mills and Kraft Heinz each gained more than 2%.

For the week, the S&P 500 is down about 1.6%, while the Dow and Nasdaq are down 2.5% and 2.4%, respectively.

"The top 20 performers in the S&P 500 today are all from defensive sectors: consumer staples, utilities and health care," said Larry Tentarelli, chief technical strategist and founder of the Blue Chip Daily Trend Report. "Investors often turn to these so-called defensive sectors when economic growth concerns arise." (Newsmaker23)

Source: CNBC

RELATED NEWS
Wall Street indexes close higher with quarterly and monthly gains even as US government shutdown looms...
Wednesday, 1 October 2025 04:08 WIB

Wall Street's three major indexes managed to close Tuesday's choppy session higher, marking quarterly and monthly gains, even as investors braced for a U.S. government shutdown, which would delay key ...

Europe's STOXX 600 records best month since May; looming US shutdown in focus...
Wednesday, 1 October 2025 00:01 WIB

European shares reversed their earlier declines to close slightly higher on Tuesday, with energy stocks limiting broader gains, while investors weighed the potential impact of a U.S. government shutdo...

Caution Prevails on Wall Street as Q3 Wraps Up...
Tuesday, 30 September 2025 21:04 WIB

US stocks were little changed on Tuesday, with the three major indexes hovering around the flatline as investors adopted a cautious stance ahead of a potential government shutdown that could disrupt t...

European Stocks Are Set for Best September Gain in Six Years...
Tuesday, 30 September 2025 14:41 WIB

European stocks were set to wrap up September with the best performance since 2019, as optimism around resilient US economic growth and lower interest rates lifted risk appetite. The Stoxx Europe 600...

Asia-Pacific markets trade mixed; Reserve Bank of Australia decision in spotlight...
Tuesday, 30 September 2025 07:25 WIB

Asia-Pacific markets traded mixed Tuesday with focus on the Reserve Bank of Australia's interest rate decision later in the day. The RBA is expected to hold its cash rate steady at 3.6%, according to...

LATEST NEWS
USD/JPY slides as US shutdown fears boost Yen's safe-haven appeal

The Japanese Yen (JPY) gains traction against the US Dollar (USD) on Tuesday, with USD/JPY extending losses for a third straight day as the looming United States (US) government shutdown weighs on the Greenback and bolsters safe-haven demand for...

Wall Street indexes close higher with quarterly and monthly gains even as US government shutdown looms

Wall Street's three major indexes managed to close Tuesday's choppy session higher, marking quarterly and monthly gains, even as investors braced for a U.S. government shutdown, which would delay key economic reports and muddy the Federal Reserve's...

These analysts think the Fed's "neutral" rate could be at current levels

The so-called "neutral" stance for U.S. interest rates is likely to be closer to where the Federal Reserve has currently set borrowing costs, rather than where the central bank expects it to be in the coming years, according to analysts at Yardeni...

POPULAR NEWS
Fed's Williams expresses cautious dovishness as long as inflation remains under control
Tuesday, 30 September 2025 01:09 WIB

Federal Reserve (Fed Bank of New York President John C. Williams hit the newswires on Monday, expressing his general cautiousness toward further...

US expands export blacklist in crackdown on Chinese workarounds
Monday, 29 September 2025 22:35 WIB

The U.S. on Monday cracked down on companies in China and other countries that use subsidiaries or other foreign affiliates to get around curbs on...

Asia-Pacific markets trade mixed; Reserve Bank of Australia decision in spotlight
Tuesday, 30 September 2025 07:25 WIB

Asia-Pacific markets traded mixed Tuesday with focus on the Reserve Bank of Australia's interest rate decision later in the day. The RBA is...

Asia markets trade mixed; Australia central bank starts two-day policy meeting
Monday, 29 September 2025 07:23 WIB

Asia-Pacific markets traded mixed Monday, while the Reserve Bank of Australia will kickstart its two-day policy meeting where it is expected to hold...