Wall Street Falls in Volatile Week; Bitcoin Follows
U.S. stock indexes closed higher on Friday, rebounding in the final session of a highly volatile week dominated by concerns over new trade tariffs.
The Dow Jones Industrial Average rose 0.52% to 42,801.72 points, while the S&P 500 gained 0.55% to 5,770.20 points. The Nasdaq Composite led the gains, climbing 0.70% to 18,196.22.
However, on a weekly basis, all three major indexes posted losses. The Dow Jones fell 2.37%, while the S&P 500 dropped 3.10%, marking its worst week since September. The Nasdaq Composite saw the steepest decline, losing 3.45%.
Market Reacts to Tariff Uncertainty
Investors closely monitored developments in trade policy throughout the week. President Donald Trump followed through on his threats to impose 25% tariffs on key trading partners, Canada and Mexico, on Tuesday. However, exemptions announced later in the week helped ease market concerns.
On Wednesday, Trump confirmed that automobiles would not face tariffs, and by Thursday, he extended exemptions to products covered under the USMCA trade agreement. Despite these adjustments, uncertainty remains about the broader impact of his trade policies.
Sector Performance and Notable Stocks
Among S&P 500 sectors, utilities (+1.84%) and energy (+1.64%) led the gains, while consumer staples (-0.61%) and financials (-0.58%) lagged.
Within the Dow Jones, standout performers included IBM (+5%) and McDonald’s (+3.5%), which helped offset broader market declines.
CryptoMarket
Cryptocurrencies experienced sharp price swings this Friday, with Bitcoin (BTC) falling below the $90,000 mark, dropping 4.5% in the past 24 hours, according to Binance. Meanwhile, Ethereum (ETH) declined 3.8% to $2,133.
By the end of the session, BTC had slipped below $86,000, while major altcoins also posted significant losses, with some dropping as much as 10%. Cardano (ADA) fell 6.7%, reflecting the broader market downturn.
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