Trade concerns lead to Wall Street drop, 4th straight session decline, tech stocks hit
From Nasdaq: 2025-05-23 16:27:00
Wall Street ended the week on a low note due to trade concerns, with the Dow and S&P 500 dropping for the fourth straight session. The tech-heavy Nasdaq also slid below 19,000. Weekly losses were sharp, with the S&P 500 seeing its worst week since April 4. President Trump’s tariff threats and elevated bond yields added to investor worries, causing the Cboe Volatility Index (VIX) to log its first weekly gain in seven weeks. Apple stock slid as Trump hinted at a 25% tariff on iPhones. Software stocks faced steep slides after earnings, while gold prices gained 2% with safe-haven appeal amid trade war threats. Oil prices finished the week with a 1% loss.
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