The Dow Jones Industrial Average (.DJI), opens new tab fell 256.02 points, or 0.61%, to 41,603.07, the S&P 500 (.SPX), opens new tab lost 39.19 points, or 0.67%, to 5,802.82 and the Nasdaq Composite (.IXIC), opens new tab lost 188.53 points, or 1.00%, to 18,737.21. For the week, the Dow lost 2.47%, the S&P 500 fell 2.61%, and the Nasdaq shed 2.48%. U.S. Treasury Secretary Scott Bessent said Trump did not believe the EU's trade offers were of sufficient quality. He also said he hoped the threat of fresh tariffs would "light a fire under the EU" in negotiations. Most megacap and growth stocks fell, including Amazon (AMZN.O), opens new tab, Nvidia (NVDA.O), opens new tab and Meta Platforms (META.O), opens new tab - which all lost more than 1%. Tesla (TSLA.O), opens new tab ended down 0.5%. The CBOE Volatility Index (.VIX), opens new tab, Wall Street's "fear gauge," hit a more than two-week high and finished up 10%. Semiconductor stocks (.SOX), opens new tab dropped 1.5%.
Deckers Outdoor (DECK.N), opens new tab slumped nearly 20% after the maker of UGG boots forecast first-quarter net sales below estimates and said it would not provide annual targets due to tariff-led macroeconomic uncertainty. Sportswear maker Nike (NKE.N), opens new tab dropped 2.1%. Volume on U.S. exchanges was 17.67 billion shares, compared with the 17.73 billion average for the full session over the last 20 trading days.
