Geopolitical tensions put US markets under renewed pressure on Friday. After Donald Trump’s harsh statements against Iran, investors’ nervousness increased significantly. The Dow Jones ended 1.0 percent lower at 47,501.55 points. The S&P 500 fell by 1.3 percent to 6,740.02 points.
US President Donald Trump said on Friday that there would be no deal to end the US war on Iran unless Tehran “unconditionally surrenders”. This has increased uncertainty on the markets.
Additional pressure came from US labor market data. The labor market surprisingly weakened in February. Instead of increasing jobs, the US economy lost 92,000 jobs, while the unemployment rate rose slightly to 4.4 percent – economists had previously expected new jobs. This also contributed to the Dow ending up having its weakest week in almost a year.
The weak data raises doubts about the strength of the US economy and could influence the US Federal Reserve’s interest rate policy, especially since the job losses hit several industries.
The shares of the world’s largest asset manager BlackRock were particularly under pressure. The trigger was new concerns about the gigantic private credit market. Investors reacted nervously and sent BlackRock down more than seven percent.
Palantir shares, however, have continued to gain momentum. At times on Friday it was up over five percent. On a weekly basis, the increase even adds up to around 20 percent.
Marvell Technology literally exploded after strong AI impulses and gained over 17 percent. Investors are increasingly betting that the chip company will benefit from the boom in data centers and artificial intelligence.
Marvell Technology Group
(WKN: A3CNLD)
The US retail giant Costco also presented strong figures again. Sales and profits reached new records – supported by high customer loyalty and increasing membership numbers.
Meta, on the other hand, is once again confronted with criticism: reports about possible data protection problems with AI-supported smart glasses are causing a stir. According to this, devices could film private scenes unnoticed – a possible new surveillance scandal surrounding the tech company.
Tesla is now facing new pressure from China in the battery race: BYD has introduced a new technology that is causing a stir in terms of charging time and range. The development is increasing competition in the electric car sector. Both BYD and Tesla posted slight losses at the end of the week.
Bitcoin
(ISIN: CRYPT0000BTC)
Bitcoin was also under pressure on Friday. The cryptocurrency has slipped back below the $70,000 mark. After the strong rally of the past few weeks, profit-taking increased. In addition, more cautious sentiment on the financial markets is causing headwinds.
