The U.S. dollar experienced significant fluctuations this week, closing with its largest weekly decline since May 2024, dropping over $30. After falling to around $920 midweek, it stabilized near $925 on Friday. The decline was influenced by strong copper prices, which reached $4.8 per pound, expectations of Federal Reserve rate cuts, and a weaker U.S. labor market, which confirmed signs of economic deceleration. Chile's IPSA stock index surpassed 7,400 points intraday for the first time in its history on Friday before moderating to close slightly higher. This achievement contrasted with Wall Street's performance, where the Nasdaq briefly entered correction territory. Major U.S. indexes posted weekly losses despite a late rebound following Federal Reserve Chair Jerome Powell's comments that the economy remains in a 'good place.' Wall Street ended a volatile week on a positive note, with the Dow Jones, S&P 500, and Nasdaq all closing higher on Friday. However, these gains were insufficient to offset earlier losses, marking the worst weekly performance for the S&P 500 since September, down 3.1%, alongside declines of 2.37% for the Dow and 3.45% for the Nasdaq. Powell's remarks provided some relief, but uncertainty around U.S. trade policy and mixed economic data, including a 4.1% unemployment rate and 151,000 new jobs in February, continued to weigh on sentiment.
US stocks bounce back as #Powell says #economy is fine https://t.co/6mK1KkCM0M
Wall Street ends higher after Fed chief's comments, but posts big weekly loss🚨 More details 👇 https://t.co/o4Y58Ujzvd #USFed #WallStreet #StockMarket
US stocks finished higher, rebounding from early declines after Federal Reserve Chair Jerome Powell said the economy was 'in a good place,' but uncertainty about US trade policy led to Wall Street's biggest weekly decline in months https://t.co/ndOKZRzAzy https://t.co/lPkAq3pTpp