The U.S. stock market began 2025 on a turbulent note, with major indices closing lower on Thursday (Friday AEDT) in the first trading session of the year.
The Dow Jones Industrial Average dropped 152 points, or 0.4%, while the S&P 500 and Nasdaq Composite fell 0.2% apiece.
Among individual stocks, Apple weighed heavily on the market with a 2.6% drop. Tesla fell 6% after reporting a decline in 2024 annual deliveries.
Conversely, Nvidia gained 3%, partially offsetting losses in the tech sector.
The declines follow a robust 2024, during which the S&P 500 surged 23%. However, the index ended the year with its first four-day losing streak since 1966.
In a holiday-shortened week, economic data remained sparse. However, a jobless claims report released Thursday showed declines in both initial and continuing unemployment claims, offering a glimmer of optimism amid broader market uncertainty.
On the bond markets, 10-year and 2-year rates were at 4.559% and 4.244%, respectively.