U.S. equity markets closed lower on Friday as weakness in Financials, Technology and Consumer Goods dragged benchmarks into the red.
At the New York Stock Exchange close, the Dow Jones Industrial Average fell 1.05%. The S&P 500 lost 0.43%, while the NASDAQ Composite declined 0.92%.
Top and bottom performers on the Dow
Within the Dow Jones Industrial Average, Merck & Company Inc (NYSE:MRK) led gains, rising 3.73% or 4.46 points to finish at 123.76. Walmart Inc (NASDAQ:WMT) added 2.81% or 3.49 points to close at 127.91, and Verizon Communications Inc (NYSE:VZ) advanced 2.54% or 1.24 points to 50.13.
Decliners on the Dow included American Express Company (NYSE:AXP), which fell 7.91% or 26.53 points to end at 308.79. Goldman Sachs Group Inc (NYSE:GS) dropped 7.40% or 68.78 points to 860.22, while NVIDIA Corporation (NASDAQ:NVDA) slipped 4.16% or 7.70 points to finish at 177.19.
S&P 500 movers
On the S&P 500, Dell Technologies Inc (NYSE:DELL) was the session's strongest performer, jumping 21.93% to 148.08. Paramount Skydance Corp (NASDAQ:PSKY) rose 20.84% to settle at 13.51 and Netflix Inc (NASDAQ:NFLX) gained 13.77% to close at 96.24.
The weakest S&P 500 components included United Airlines Holdings Inc (NASDAQ:UAL), down 8.70% to 106.30, American Express Company (NYSE:AXP), down 7.91% to 308.79, and Enphase Energy Inc (NASDAQ:ENPH), off 7.67% to 42.26.
Notable Nasdaq performers
On the Nasdaq Composite, Ptl Inc (NASDAQ:PTLE) posted an extraordinary percentage move, rising 7,108.33% to 8.65. Ensysce Biosciences Inc (NASDAQ:ENSC) climbed 58.63% to 0.63, and Applied Opt (NASDAQ:AAOI) surged 56.90% to 84.24.
The session's steepest percentage declines on the Nasdaq included Li Bang International Corporation Inc (NASDAQ:LBGJ), which fell 83.82% to 0.17, MDJM Ltd (NASDAQ:UOKA), down 61.90% to 0.08, and Republic Power Group Ltd (NASDAQ:RPGL), down 51.34% to 1.99.
Market breadth and notable price milestones
Declining issues outnumbered advancing issues on the New York Stock Exchange by 1,619 to 1,114, with 88 unchanged. On the Nasdaq, 2,291 issues fell and 1,086 advanced, while 163 ended unchanged.
Several individual stocks hit notable price milestones during the session. Verizon Communications Inc (NYSE:VZ) reached a three-year high, rising 2.54% or 1.24 to 50.13. Ptl Inc (NASDAQ:PTLE) moved to a 52-week high, up 7,108.33% or 8.53 to 8.65. Applied Opt (NASDAQ:AAOI) climbed to a five-year high, rising 56.90% or 30.55 to 84.24.
Conversely, several stocks hit all-time lows: Li Bang International Corporation Inc (NASDAQ:LBGJ) dropped 83.82% or 0.86 to 0.17, MDJM Ltd (NASDAQ:UOKA) fell 61.90% or 0.13 to 0.08, and Republic Power Group Ltd (NASDAQ:RPGL) slid 51.34% or 2.10 to 1.99.
Volatility, commodities and currencies
The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, rose 6.55% to 19.85.
In commodities trading, the reported prices at the close showed mixed moves. Gold futures for April delivery increased 1.66% or 86.10 to $5,280.30 a troy ounce. Crude oil for April delivery rose 3.30% or 2.15 to $67.36 a barrel, and the May Brent oil contract gained 3.36% or 2.38 to trade at $73.22 a barrel.
In foreign exchange markets, EUR/USD was effectively unchanged, moving 0.15% to 1.18, while USD/JPY declined 0.06% to 156.04. The US Dollar Index futures was down 0.14% at 97.61.
Closing observations
The session closed with breadth tilted toward declines and elevated implied volatility. Financials, Technology and Consumer Goods were cited as the sectors that led the downside during the session, and individual securities on all major exchanges showed pronounced dispersion in moves, from extreme percentage gains to steep losses.