U.S. Markets End Turbulent Week With Losses Driven by Jobs Data and Tariff Uncertainty
The S&P 500 posts its worst weekly performance since September as investors react to fluctuating trade policies and a slight rise in unemployment.
- The S&P 500 fell 3.1% this week, marking its worst performance since September, while the Dow Jones and Nasdaq also posted significant losses.
- February's jobs report showed 151,000 jobs added, slightly below expectations, with the unemployment rate ticking up to 4.1%.
- President Trump's shifting tariff policies, including delays and exemptions for imports from Mexico and Canada, created uncertainty for businesses and markets.
- Federal Reserve Chair Jerome Powell stated the central bank is not in a hurry to cut interest rates, emphasizing a cautious approach to economic policy.
- Major tech stocks like Nvidia and Tesla saw steep declines, contributing to broader market losses, while Broadcom's strong AI-related forecast offered some optimism.