Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
UK Economy Sees Marginal Growth Amid Tax Hikes and Business Caution 
South Korea to End Short-Selling Ban as Financial Market Uncertainty Persists 
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
Rising Bond Yields Pose Risks to US Stocks and Boost Dollar 
SoftBank Eyes Up to $25B OpenAI Investment Amid AI Boom 
SoftBank and OpenAI Lead $19B Investments in Stargate AI Initiative 
Bank of America Posts Strong Q4 2024 Results, Shares Rise 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Wall Street Banks Plan to Sell $3 Billion of Elon Musk’s X Debt 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
U.S. stocks closed lower on Friday as investor sentiment weakened following the White House’s announcement that President Donald Trump will implement new tariffs on Canadian, Mexican, and Chinese imports. The tariffs—25% on Canadian and Mexican goods and 10% on Chinese imports—will take effect on Saturday, adding to economic uncertainty.
The Dow Jones Industrial Average dropped 337.47 points (0.75%) to 44,544.66, the S&P 500 declined 30.64 points (0.50%) to 6,040.53, and the Nasdaq Composite lost 54.31 points (0.28%) to 19,627.44. Energy stocks led losses, with Chevron (NYSE:CVX) plunging 4.6% after weak earnings and Exxon Mobil (NYSE:XOM) falling 2.5%.
Apple (NASDAQ:AAPL) ended down 0.7%, reversing earlier gains from upbeat earnings commentary. Tech stocks faced pressure earlier in the week after China’s DeepSeek unveiled a breakthrough in AI technology.
Despite Friday’s decline, indexes posted gains for January, with the Dow up 4.7%, the S&P 500 rising 2.7%, and the Nasdaq gaining 1.6%. However, for the week, the S&P 500 lost 1%, and the Nasdaq dropped 1.6%.
Economic data released Friday reinforced expectations that the Federal Reserve will maintain interest rates for longer. Strong consumer spending and moderate inflation in December supported Fed Chair Jerome Powell’s stance that rate cuts are not imminent.
After the closing bell, Trump hinted at new tariffs related to oil and gas, set to be announced by Feb. 18. However, he provided no details on affected countries or specifics.
Declining stocks outpaced gainers on both the NYSE and Nasdaq, with U.S. exchange volume reaching 15.78 billion shares, slightly above the 20-day average.
