The S&P 500 regained some ground on Friday, but the index still posted its worst week in several months as the salvo of trade policy actions unnerved investors.
The broad index rose 0.55% to 5,770.20, while the Nasdaq Compositegained 0.7% to 18,196.22. The Dow Jones Industrial Average added 222.64 points, or 0.52%, to end at 42,801.72.
Friday saw volatile trading, with the Dow falling more than 400 points at session lows before an afternoon rally. The S&P 500 and Nasdaq both fell more than 1% at their worst points in the trading day.
Despite Friday’s recovery, the S&P 500 notched its worst week since September with a loss of 3.1%. The Dow, meanwhile, fell 2.4% this week. The Nasdaq Composite slid 3.5% on the week, during which it had entered correction territory, which means the tech-heavy index finished a session 10% off its recent high.
Investors shook off a weaker-than-expected jobs report released Friday, which raised further concerns about an economic softening and briefly sent Treasury yields lower. Nonfarm payrolls increased by 151,000 jobs in February, less than the consensus forecast for 170,000 from economists polled by Dow Jones. The unemployment rate ticked higher to 4.1%.
That came as stocks have been on a roller-coaster ride this week with President Donald Trump’s tariff policies worrying investors about future U.S. growth and inflation. Trump said on Thursday that a swath of goods from Canada and Mexico that are covered by the North American trade agreement known as the USMCA would be exempt from the announced duties until April 2.
This move effectively walked back much of the original plan for levies on the two countries, along with China. But the market still sold off this week, with uncertainty mounting amid constant updates and a lack of clarity on what to expect longer term.
“The market does not like uncertainty,” said Glen Smith, chief investment officer at GDS Wealth Management. “While we expect the market to find its footing and recover from the tariff-driven selloff, investors should brace for continued choppiness until these uncertainties clear.”
Treasury Secretary Scott Bessent acknowledged to CNBC on Friday that the economy could be starting to “roll a bit.” However, he said that was due to a transition from the policies of the previous administration. Bessent said any tariffs implemented would be a “one-time price adjustment” and not spark lasting inflation.
