Stocks fell during morning trading on Friday, pushing Wall Street toward its fifth consecutive weekly loss. The S&P 500 dropped by 0.6%, facing its worst weekly losing streak in nearly two years. Technology stocks significantly impacted the market’s decline, reversing their previous year’s gains. Nvidia and Microsoft both experienced losses. Uncertainty about the U.S. economy’s direction, including a potential trade war and inflation concerns, has been affecting stock performance. Companies like Nike, FedEx, and Lennar reported revenue declines or issued weaker forecasts due to geopolitical dynamics, tariffs, and consumer sentiment. The Federal Reserve maintained its benchmark interest rate steady following its recent meeting, assessing the impact of tariffs and other policy shifts. While some economic reports indicate a strong economy, others reveal growing consumer caution. In the bond market, Treasury yields remained mostly steady. European markets also fell, with Britain’s FTSE 100 shedding 0.6% and Germany’s DAX slipping 0.7%. — news from The Associated Press
