US stock markets closed the trading week on a pessimistic note on Friday, with the Dow Jones Industrial Average ending the day 1.0% lower, the Nasdaq 100 declining 1.3% and the broad-based S&P 500 index closing 1.0% lower at 6,026 points.
Market concerns centered on potential new US tariffs and their potential impact on inflation. US President Donald Trump announced that further decisions would be made in the coming days, contributing to the negative sentiment. Disappointing earnings from Amazon also weighed on the market, pushing several megacap stocks lower.
Many investors viewed the previously released positive US labor market data as a negative, as it increased the likelihood that the US Federal Reserve would not lower interest rates as quickly as some had hoped and even the possibility of a rate hike was once again on the table.
The euro was weaker against the US dollar at the end of the day, with one euro equivalent to 1.0327 US dollars and one US dollar worth 0.9683 euros.
Gold prices inched up, with a fine ounce selling for 2,861 US dollars, or 89.07 euros per gram, a 0.2% increase.
Meanwhile, the price of Brent crude oil rose, with a barrel trading at 74.65 US dollars at 22:00 CET, a 0.5% or 36-cent increase from the previous day’s close.