U.S. Stocks Close Friday Down
The Dow Jones Industrial Average shed 453.19 points, or 0.95%, closing at 47,501.55. The Nasdaq composite tumbled 361.31 points, or 1.59%, to settle at 22,387.68, while the S&P 500 retreated 90.69 points, or 1.33%, finishing at 6,740.021.
Market anxiety was plainly visible in the Volatility Index (VIX) — widely known as Wall Street's "fear index" — which spiked 24.17% to 29.49, signaling a sharp uptick in investor unease.
Traders kept a close watch on incoming inflation figures as they attempted to gauge the Federal Reserve's next policy move. Higher-than-anticipated labor costs intensified concerns that the central bank may hold borrowing rates at restrictive levels for longer than markets had previously priced in.
Adding to the grim mood, official figures revealed the U.S. economy shed 92,000 jobs in February, a stark contraction that deepened uncertainty over the health of the broader economy.
Energy markets compounded investor anxiety. Brent crude futures surpassed $92 per barrel on Friday — their highest level since mid-2024 — as escalating conflict across the Middle East raised alarm over potential disruptions to global oil supplies.
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