The US markets ended lower on Friday as the war in Iran showed no signs of de-escalation, furthering concerns that energy prices will stay elevated for longer. Traders remained cautious as the University of Michigan released a report showing a modest deterioration in U.S. consumer sentiment in the month of March. The University of Michigan said its consumer sentiment index fell to 55.5 in March, down from 56.6 in February but slightly above market expectations of 55. The reading marked the lowest level in three months, as households reacted to the military conflict involving the US and Iran. Some concern also came as report released by the Commerce Department said U.S. economic growth slowed by much more than previously estimated in the fourth quarter of 2025. The report said gross domestic product increased by 0.7 percent in the fourth quarter compared to the previously estimated 1.4 percent jump.
On the sectoral front, gold stocks and the price of the precious metal have experienced a sharp downturn, leading to the NYSE Arca Gold Bugs Index (HUI) dropping 5.2% to hit its lowest closing level in more than a month.
Dow Jones Industrial Average slipped 119.38 points or 0.26 percent to 46,558.47, Nasdaq decreased 206.62 points or 0.93 percent to 22,105.35 and S&P 500 fell 40.43 points or 0.61 percent to 6,632.19.
About The Author
