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US stocks fell on Friday as investors reacted to the threat of more possible tariffs from the Trump administration, while digesting a jump in consumer expectations for inflation and the quickly overshadowed monthly jobs report.
The S&P 500 (^GSPC) moved 0.7% lower, while the tech-heavy Nasdaq Composite (^IXIC) slid around 1%. The Dow Jones Industrial Average (^DJI) also fell 0.7% on the heels of a mixed day for stocks on Wall Street.
At the White House on Friday, President Donald Trump said he would soon announce a plan on reciprocal tariffs on American imports. The comments were made during a meeting with Japan’s Prime Minister Shigeru Ishiba. Trump also said tariffs on Japan were an option.
The major gauges slid earlier into the red after US consumer sentiment sank to a seven-month low in early February, undershooting forecasts. Inflation expectations jumped amid concerns about Trump’s tariff threats.
Americans now expect an inflation rate of 4.3% over the next year, a full percentage point higher than last month, the University of Michigan survey found.
The 10-year Treasury (^TNX) yield rose to 4.5% in the wake of the sentiment update and the monthly jobs report. That report saw US economy added 143,000 jobs in January, missing economist expectations, but still showing signs of resilience in the labor market. Unemployment ticked down to 4.0%, from 4.1% in December.
Meanwhile, eyes were on Amazon’s (AMZN) earnings after it joined Google (GOOG) and other AI-focused Big Tech companies in disappointing Wall Street with its revenue outlook. Shares in Amazon dropped 4%.
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