Overview
U.S. equity markets closed broadly lower on Friday, driven by declines in the Utilities, Technology and Basic Materials sectors. The Dow Jones Industrial Average slipped 0.97% to close at a fresh three-month low, while the S&P 500 fell 1.51% and the NASDAQ Composite declined 2.01%.
Index and sector performance
The major benchmark moves were accompanied by wide participation on the downside. On the New York Stock Exchange, falling issues outnumbered advancers by 2,318 to 462, with 38 unchanged. On the Nasdaq, 2,469 issues fell and 929 advanced, with 151 unchanged.
Notable performers on the Dow
Within the Dow Jones Industrial Average, Verizon Communications Inc (NYSE:VZ) was the session's strongest performer, rising 1.09% or 0.54 points to finish at 50.02. Visa Inc Class A (NYSE:V) increased 0.69% or 2.07 points to end at 301.78, and Goldman Sachs Group Inc (NYSE:GS) gained 0.52% or 4.24 points to close at 813.74.
On the downside among Dow components, International Business Machines (NYSE:IBM) fell 3.43% or 8.60 points to 241.77 at the close. Honeywell International Inc (NASDAQ:HON) declined 3.27% or 7.48 points to 221.55, and NVIDIA Corporation (NASDAQ:NVDA) was down 3.11% or 5.56 points to 173.00.
S&P 500 movers
The top performers on the S&P 500 included Marsh & McLennan Companies Inc (NYSE:MRSH), which rose 3.29% to 176.54, APA Corporation (NASDAQ:APA), up 2.76% to settle at 39.11, and Aon PLC (NYSE:AON), which gained 2.73% to close at 325.63.
Conversely, Super Micro Computer Inc (NASDAQ:SMCI) posted a steep loss of 33.32% to 20.53 in late trade, Vistra Energy Corp (NYSE:VST) fell 12.76% to settle at 146.02, and Constellation Energy Corp (NASDAQ:CEG) dropped 10.87% to 282.06 at the close.
Nasdaq highlights
Leading the Nasdaq Composite winners were AleAnna Inc (NASDAQ:ANNA), which climbed 85.75% to 7.04, Ridgetech Inc (NASDAQ:RDGT), up 41.59% to 3.03, and Roma Green Finance Ltd (NASDAQ:ROMA), which rose 35.55% to 6.94.
Among the biggest decliners on the Nasdaq and OTC market were MDJM Ltd (OTC:UOKAF), down 62.25% to 0.16 in late trade, Mangoceuticals Inc (NASDAQ:MGRX), which lost 54.51% to settle at 0.16, and GD Culture Group Ltd (NASDAQ:GDC), down 35.01% to 2.32 at the close.
Highs and lows
Several companies registered milestone moves in the session. Super Micro Computer Inc (NASDAQ:SMCI) fell to 52-week lows, losing 33.32% or 10.26 to 20.53. APA Corporation (NASDAQ:APA) rose to 52-week highs, gaining 2.76% or 1.05 to 39.11. MDJM Ltd (OTC:UOKAF) dropped to all-time lows, down 62.25% or 0.26 to 0.16, as did Mangoceuticals Inc (NASDAQ:MGRX), which lost 54.51% or 0.19 to 0.16. Roma Green Finance Ltd (NASDAQ:ROMA) reached all-time highs, up 35.55% or 1.82 to 6.94.
Volatility and broader market indicators
The CBOE Volatility Index, which gauges implied volatility for S&P 500 options, rose 11.22% to 26.76, signaling higher option-implied market turbulence.
Commodities and FX moves
Gold futures for April delivery declined 2.18% or 100.54 to $4,505.16 a troy ounce. In energy markets, crude oil for May delivery gained 2.37% or 2.26 to $97.81 a barrel, while the May Brent contract rose 3.21% or 3.49 to $112.14 a barrel.
In currency trading, EUR/USD was essentially unchanged, moving 0.21% to 1.16, while USD/JPY advanced 0.96% to 159.30. The US Dollar Index Futures increased 0.29% to 99.35.
Implications for market participants
The session's breadth and the rise in implied volatility suggest heightened risk aversion among investors. Sharp moves in individual small-cap issues and energy and utility-related names contributed to market weakness. Commodity and currency swings were also present alongside the equity declines.
Session snapshot
- Dow Jones Industrial Average -0.97%, new 3-month low
- S&P 500 -1.51%
- NASDAQ Composite -2.01%
- CBOE Volatility Index +11.22% to 26.76
- Gold futures -2.18% to $4,505.16 per troy ounce
- US crude oil (May) +2.37% to $97.81 per barrel; Brent (May) +3.21% to $112.14 per barrel
- EUR/USD 1.16; USD/JPY 159.30; US Dollar Index Futures 99.35