U.S. equities fell Friday, ending a three-day streak of gains, as mixed corporate earnings and renewed uncertainty over trade policy weighed on investor sentiment.
The Dow Jones Industrial Average declined by 203 points, or 0.5%, while the S&P 500 and Nasdaq Composite each lost 0.3%.
Alphabet (GOOGL, Financials) gained 2% after the company surpassed analyst expectations for both revenue and profit in the first quarter. In contrast, Intel (INTC, Financials) dropped 8% following weaker-than-expected forward guidance and plans to reduce operational and capital spending.
Market sentiment deteriorated after Time magazine published an interview with President Donald Trump, in which he stated it would be a “total victory” if the United States maintained tariffs between 20% and 50% on foreign goods a year from now. Trump dismissed the idea that rising bond yields influenced his recent decision to pause most of the elevated tariff rates for 90 days.
Trump also suggested that multiple trade agreements would be announced “over the next three to four weeks,” though he provided no specifics. The interview was conducted Tuesday and published Friday.
For the week, the S&P 500 rose 3.8%, the Nasdaq Composite advanced 5.4%, and the Dow gained 2%, according to market data reviewed by Reuters.
Markets remain volatile as investors await further clarity on trade negotiations following Trump's April 2 announcement of “reciprocal” tariffs. China said Thursday that it is not engaged in any current discussions on tariff policy. Earlier this week, the White House indicated the current 145% tariff rate on Chinese imports could be lowered, though it would not be eliminated.
