U.S. stocks closed out a turbulent week on a mixed note, with the S&P 500 falling below the key 5,000 points level for the first time since February. The tech-heavy NASDAQ Composite Index took a hit, shedding 2.05% due to a significant drop in Netflix shares. The Dow, however, managed to climb 0.56%, thanks to a rise in American Express stock.
The week saw the NASDAQ slipping 5.52%, the S&P sliding 3.05%, and the Dow gaining a slight 0.01%. The market was influenced by a post-earnings slide in Netflix and geopolitical tensions between Iran and Israel.
Investors were on edge as U.S. Treasury yields followed global trends lower, with traders snapping up bonds amid escalating tensions between Israel and Iran. The 30-year yield was down 2 basis points to 4.72%, the 10-year yield was down 1 basis point to 4.62%, and the 2-year yield was slightly lower to 4.99%.
Despite the market volatility, some sectors ended the day in the green, offering a glimmer of hope for investors. Paramount Global emerged as the top S&P percentage gainer, following reports of interest from Sony Picture Entertainment in acquiring the iconic film studio.
Overall, the market experienced a rollercoaster ride this week, with tech stocks taking a hit and geopolitical tensions adding to the uncertainty. Analysts remain cautiously optimistic, with some pointing to potential opportunities for patient investors as the market continues to navigate through challenges.
