S&P 500 ends down as tariffs sour sentiment
Wall Street ended lower on Friday, with Meta Platforms weighing on the S&P 500 after President Donald Trump intensified his tariff offensive against Canada, amplifying the uncertainty swirling around U.S. trade policy.
Trump late on Thursday ramped up his tariff assault on Canada, saying the U.S. would impose a 35% tariff on imports next month and planned to impose blanket tariffs of 15% or 20% on most other trading partners.
The S&P 500 eased from a record high the day before, with caution prevailing after Trump on Thursday imposed 50% tariffs on Brazil and as the European Union braced for a possible letter from Trump with details on fresh tariffs.
Shares of Nvidia rose 0.5% to a record high, lifting its stock market value to $4.02 trillion.
Drone makers AeroVironment and Kratos Defense & Security Solutions jumped about 11% after U.S. Defense Secretary Pete Hegseth ordered a surge in drone production and deployment.
The S&P 500 declined 0.33% to end the session at 6,259.75 points.
The Nasdaq declined 0.22% to 20,585.53 points, while the Dow Jones Industrial Average fell 0.63% to 44,371.51 points.
Volume on U.S. exchanges was relatively light, with 15.4 billion shares traded, compared with an average of 18.3 billion shares over the previous 20 sessions.
For the week, the S&P 500 dipped 0.3%, the Dow lost about 1% and the Nasdaq slipped 0.1%.
The S&P 500 is up about 6% so far in 2025.
Source : Reuters
