"The combination of the sell-off in Nvidia Corp., the much higher producer price index print, the ongoing confusion over the tariffs, and the weekend military action against Iran has created a witches' brew of trouble. The sellers had the perfect storm for a risk-off Friday."
"All of the major indices closed lower, with the small-cap Russell 2000 getting hit the hardest, closing down 1.68% at 2,632, while the Dow Jones Industrials were a close second-place finisher, ending the day down 1.05% at 48,977."
"Just like Thursday, the free-falling stock market had investors running for safety on Friday, and yields across the Treasury curve were down across the board. The 30-year-long bond closed Friday at 4.62%, while the yield on the benchmark ten-year note dropped under 4% to close at 3.95%."
Major stock indices closed lower Friday following multiple negative catalysts including a significant Nvidia decline, higher-than-expected producer price index data, ongoing tariff confusion, and weekend military action against Iran. The Russell 2000 fell 1.68%, the Dow dropped 1.05%, the Nasdaq declined 0.92%, and the S&P 500 fell 0.43%. Treasury yields declined across the curve as investors sought safety, with the ten-year note closing below 4% for the first time since late last year, benefiting mortgage rates. Energy prices rose due to Iran conflict concerns, with oil trading 10% higher following U.S. and Israeli military action, while OPEC+ announced increased production of 220,000 barrels per day.
Read at 24/7 Wall St.
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