U.S. stocks dipped on Friday morning, extending a losing streak that has gripped markets since late February, weighed down by trade uncertainty, recession concerns, and a decline in major technology stocks.
The S&P 500 slipped 0.8%, heading for its fifth consecutive week of losses, the longest streak in over two years. The Nasdaq Composite declined 0.7%, while the Dow Jones Industrial Average shed 264 points, or 0.6%.
Market volatility surged as traders navigated the quarterly “quadruple witching” event, which marks the expiration of stock options, index futures, index options, and single-stock futures. Goldman Sachs projected that over $4.7 trillion in options exposure would expire.
The S&P 500, down 0.4% for the week, briefly touched correction territory, now sitting more than 8% below its recent record high. The index attempted a rebound Wednesday after the Federal Reserve maintained its projection of two rate cuts in 2025, but selling pressure resumed on Thursday and Friday.
“Markets remain risk-averse,” said Rob Williams, chief investment strategist at Sage Advisory. “There are technical bounces, but more downside could be ahead.”
Trade tensions are adding further pressure as President Donald Trump’s April 2 tariff deadline approaches. Michael Green, chief strategist at Simplify Asset Management, noted that businesses are pausing spending and hiring due to uncertainty.
This article first appeared on GuruFocus.
