Financial Markets Experience Mixed Trading as US-China Trade Tensions Linger
The US stock markets displayed a mixed performance on Friday, with the Dow Jones Industrial Average closing at 42,270.07 points, a 0.13% increase from the previous trading day. The S&P 500, a broader market index, had a minute slip in the red, while the Nasdaq 100, a technology-heavy index, declined by 0.1%.
Market analysts attribute the uncertainty to the ongoing trade tensions between the US and China, which have been a dominant concern for investors. A US court initially suspended the Trump administration’s tariffs, only for a higher court to reinstate them, causing market volatility.
Meanwhile, the euro, the common currency of the European Union, weakened slightly, with one euro exchanging for 1.1356 US dollars and one US dollar for 0.8806 euros. The price of gold also fell, with one ounce selling for $3,295, a decline of 0.8% or 93.29 euros per gram.
Oil prices, however, took a hit, with a barrel of Brent crude selling for $63.90, a 0.4% or 25-cent drop from the previous day’s close.