US stocks faced a downward trend, led by the NASDAQ index, which fell by 1.26%. It has declined each day for four consecutive days, down 4.21% this week after previous weekly decreases of 3.45%, 3.47%, and 2.51%.
The S&P index decreased by 42 points or 0.75%, while the Dow industrial average fell by 305 points or 0.74%. The Dow’s decline marks its fourth consecutive day down, with a total drop of 4.11% for the week.
Bond Yields Decline
Yields decreased, with the two-year down 1.3 basis points at 3.982% and the ten-year down 0.2 basis points at 4.314%.
Gold rose by $40.43 or 1.38% to $2974.96, reaching a new record high at $2974.75. Bitcoin dropped by $1900 to $81,690. The dollar strengthened against major currencies apart from the JPY, which decreased by 0.31%.
A fast-moving selloff has sent stocks sharply lower, with the tech-heavy index extending its losing streak to four days in a row. Losses have accumulated at a rapid pace, adding up to more than 4% this week alone. That follows a steady weakening over the past month, with each week bringing another wave of declines.
The broader market has not been spared either. The S&P index managed to avoid the worst of the slide but still found itself down another 0.75% by the end of trading. The Dow industrial average followed the same path, shedding more than 300 points in today’s session. With this latest decline, it too has fallen for four straight days, reaching a weekly drop of just over 4%.
Yields offered little support, edging moderately lower but not enough to shift sentiment. The two-year yield slipped to just under 4%, while the ten-year yield held close to 4.31%. A drop in yields often brings relief to equities, but today that was not the case.
Outside of equities, gold caught attention as it surged higher by more than $40, setting a new all-time high just below the $3,000 mark. The move in gold suggests a flight to safety, as investors shift capital away from riskier assets. Meanwhile, Bitcoin reversed sharply, falling by $1,900. That leaves the cryptocurrency well below recent highs, a clear departure from the momentum seen in previous weeks.
Currency Market Reactions
Currency markets reflected shifting investor sentiment, with the US dollar gaining against nearly all major counterparts. The exception was the yen, which managed to strengthen slightly. A stronger dollar often indicates deterioration in risk appetite, aligning with what was seen across multiple asset classes today.
For traders, the last few weeks have been defined by persistent downward pressure on stocks, limited support from bond yields, and rising demand for alternative assets like gold. Each of those factors suggests that caution remains warranted.
