US Stock Market on Friday tumbled as Israel-Iran conflict intensified and all eyes are now on President Donald Trump and how he handles the growing middle-east crisis. Nasdaq declined 1.30 per cent to 19,406.83 points, while the Dow Jones Industrial Average declined 1.79 per cent to 42,197.79 points. S&P 500 declined 1.13 per cent to end the session at 5,976.97 points.
Ten of the 11 S&P 500 sector indexes declined, led lower by financials, down 2.06 per cent, followed by a 1.5 per cent loss in information technology.
Nvidia dipped 2.1 per cent and Apple lost 1.4 per cent. Photoshop maker Adobe fell 5.3 per cent as concerns that the company’s pace of AI adoption was too slow overshadowed an increased annual revenue forecast. Oracle jumped 7.7 per cent to a record high, rallying for a second day after the technology company gave an upbeat forecast driven by demand for its AI services.
More than seven percent rise in crude prices in the wake of the Iran-Israel conflict lifted Halliburton by 5.5 percent and ConocoPhillips 2.4 percent. US energy stocks rose in tandem, with Exxon up 2.2 per cent and Diamondback Energy rallying 3.7 per cent.
Defense stocks climbed, with Lockheed Martin, RTX Corporation and Northrop Grumman all gaining over 3 per cent.
Airline stocks fell on fears that fuel costs could climb. Delta Air Lines lost 3.8 per cent, United Airlines fell 4.4 per cent and American Airlines declined 4.9 per cent. Visa and Mastercard both fell more than 4 per cent after the Wall Street Journal reported that major retailers are exploring cryptocurrencies that could eliminate the need for payment intermediaries. PayPal dropped around five per cent, while American Express lost 3.4 percent.
FAQs
Q1. Which are top indexes of US Stock Market?
A1. Top indexes of US Stock Market are Nasdaq, Dow Jones, and S&P 500.
Q2. How have S&P 500 sector indexes performed?
A2. Ten of the 11 S&P 500 sector indexes declined, led lower by financials, down 2.06 per cent, followed by a 1.5 per cent loss in information technology.