Dow falls nearly 750 points and US stocks tumble as businesses and consumers worry about tariffs
NEW YORK — U.S. stocks fell sharply Friday after reports showed that worries among consumers and businesses about President Donald Trump’s policies may be hitting the U.S. economy.
“Companies report widespread concerns about the impact of federal government policies, ranging from spending cuts to tariffs and geopolitical developments,” said Chris Williamson, chief business economist at S&P Global Market Intelligence. “Sales are reportedly being hit by the uncertainty caused by the changing political landscape, and prices are rising amid tariff-related price hikes from suppliers.
To be sure, the U.S. stock market is still up for the young year so far and is not far from its all-time high set earlier this week. Virtually no one on Wall Street is forecasting a recession anytime soon. But Friday’s reports raise concerns about what’s been a remarkably resilient economy, and the losses on Wall Street were widespread.
Akamai Technologies had the sharpest drop in the S&P 500, even though the cybersecurity and cloud computing company reported stronger profit for the latest quarter than analysts expected. It lost a fifth of its value and fell 21.7% as investors focused instead on its forecasts for revenue and other financial measures this upcoming year, which fell short of analysts’ expectations.
All told, the S&P 500 fell 104.39 points to 6,013.13. The Dow Jones Industrial Average dropped 748.63 to 43,428.02, and the Nasdaq composite sank 438.36 points to 19,524.01.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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