Major United States benchmark averages rebounded on Friday, but the Dow still logged its worst week since 2023 amid ongoing market volatility and tariff concerns.
The Dow Jones Industrial Average rose 674.6 points, or 1.7%, to close at 41,488.2. The S&P 500 climbed 117.4 points or 2.1% to end at 5,638.9, and the Nasdaq Composite advanced 451.1 points or 2.6% to settle at 17,754.1.
Tech stocks led the rebound, with Nvidia jumping 5.3%, Microsoft up 2.6%, Tesla rising nearly 3.9%, and Meta Platforms gaining 2.9%.
The rally came as a reprieve after a turbulent week, driven largely by concerns over shifting U.S. tariff policies under President Donald Trump.
Despite the strong session, the market remained under pressure. Thursday’s more than 1% decline pushed the S&P 500 into correction territory, marking a 10% drop from its record high just 16 days prior.
The Nasdaq also extended its losses deeper into correction, reflecting the ongoing volatility gripping investors over the past three weeks.
For the week, the Dow shed 3.1%, marking its worst performance since March 2023, while the S&P 500 and Nasdaq each fell more than 2%, posting their fourth consecutive week of losses.
Economic data added to market jitters. The University of Michigan’s consumer sentiment index dropped 11% to 57.9 in March, significantly below the 63.1 expected.
Looking ahead, investors are focused on this week's Federal Reserve policy meeting. According to CME’s FedWatch tool, with futures markets pricing a 99% probability that interest rates will remain unchanged.
Meanwhile, bond yields ticked higher, with the 10-year Treasury yield rising to 4.32% and the 2-year yield climbing to 4.021%.
