On Friday morning, U.S. stock markets opened to a rough start, with all three major indices experiencing notable declines as trading began on Wall Street.
- The Dow Jones Industrial Average dropped by 600 points, or 1.3%, opening at 42,322.11, a decline of 0.73%.
- The S&P 500 opened 0.98% lower at 5,860.
- The Nasdaq Composite, which is tech-heavy, saw the steepest drop, opening 1.39% lower at 19,208.98.
Among the 11 sectoral indices, two advanced early in the session. The energy sector and utilities sector showed gains, while communication services and financial sectors led the declines.
Several major companies showed mixed results in early trading. Delta Air Lines, Walmart, and Walgreens Boots saw gains, while Intel Inc., Nvidia Inc., KKR & Co., Apple Inc., and Nasdaq Inc. saw losses.
Bond and Currency Markets React
In the bond market, the 10-year U.S. Treasury yield climbed five basis points to 4.74%. The U.S. Dollar Index rose by 0.3%, while the Euro fell 0.4% to $1.0257 and the British Pound dropped 0.6% to $1.2232. The Japanese Yen also weakened slightly by 0.1%, trading at 157.98 per dollar.
Commodities and Cryptocurrencies Surge
In commodities, spot gold rose by 0.62%, reaching $2,683.84 per ounce, driven by demand for safe-haven assets. Meanwhile, Brent crude surged 4.24%, hitting $80.18 per barrel, marking the first time since October that it reached this price.
Bitcoin also saw a rise, gaining 1.9% to $93,839.51, reflecting positive momentum in the cryptocurrency market.
Market Sentiment
The sharp declines in major U.S. indices, especially the Nasdaq Composite, suggest investor caution. While sectors like energy and utilities showed resilience, the early downturn in technology stocks weighed heavily on the broader market. Investors will continue to monitor these indices and asset classes for further developments in the U.S. market today.
