Overview
- U.S. indexes finished the week lower with the Nasdaq down about 2.2%, the S&P 500 off roughly 0.7%, and the Dow near a 0.4% decline.
- Volatility jumped sharply, with the VIX rising about 17% to 20.31, reflecting stronger demand for protection against market swings.
- A late-week sell-off in semiconductors hurt tech-heavy stocks, with Intel falling about 7.9% and a seven-stock tech basket losing over 4% for the week.
- Oil spiked above $100 a barrel after Houthi attacks on Red Sea shipping added a supply-risk premium, then pulled back to about $96 after reports of Pakistan and China pushing U.S.-Iran talks.
- Investors also absorbed a new round of U.S. tariffs taking effect and repriced higher odds of further Federal Reserve rate increases, a combination that could tighten borrowing costs and weigh on growth.