The US stock market experienced a mixed session, with the S&P 500 extending its four-day losing streak, while the Dow Jones Industrial Average managed to post gains. The technology-heavy NASDAQ Composite suffered the steepest decline as growth stocks faced selling pressure.
Key US Indices:
- S&P 500: 5,955 (-0.47%) – Continued its downtrend, marking a four-day skid, with losses led by the Information Technology and Communication Services sectors.
- Dow Jones Industrial Average: 43,621 (+0.37%) – Managed to stay in positive territory, supported by defensive sectors such as Consumer Staples and Healthcare.
- NASDAQ Composite: 19,026 (-1.35%) – Heavily impacted by the ongoing correction in the Magnificent 7 stocks, with Nvidia, Tesla, and Meta posting significant losses.
- Russell 2000: 2,176 (-0.11%) – Small-cap stocks underperformed slightly, reflecting broader concerns about economic growth and risk-off sentiment.
Market Sentiment and Key Drivers:
- The S&P 500 declined 0.47%, recovering from session lows of -1.25%, showing signs of some buying support.
- The Equal-weight S&P 500 closed 0.1% higher, outperforming the official benchmark by 57 basis points (bps), suggesting strength in broader market participation.
- Tech-heavy stocks continued their slide, with the Mag 7 index dipping into correction territory, down approximately 10% from December highs.
- Oil prices fell to their lowest levels of 2025 amid concerns about US economic growth and ongoing Russia-US talks on Ukraine.
- Treasuries rallied, with investors increasing bets on a potential Fed rate cut, partly driven by uncertainty over Trump’s tariff policies.
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