Wall Street’s main indexes closed lower on Friday as investors were unsettled by mixed economic data and earnings reports. The technology sector, highlighted by Nvidia’s 3.1% drop, significantly pulled the markets down after recent rallies.
The dip comes amid stronger-than-expected housing market data but slowing business activity, as investors prepare for a week rich with economic releases and the Federal Reserve meeting. Despite policy uncertainty from President Trump’s administration, investors anticipate the Fed maintaining borrowing costs.
Major index declines followed a week of advances, with the Dow, S&P 500, and Nasdaq showing significant prior growth. Meanwhile, talks of proposed tariffs could influence market dynamics further, intensifying inflation fears and potential Fed rate adjustments.
(With inputs from agencies.)