US Stock Market This Week: S&P 500 Hits Six-Month Low as Oil Shock Knocks Out Rate-Cut Hopes
The S&P 500 closed at 6,506.48 on Friday, its lowest since September, dropping 1.9% for the week. Nasdaq and Dow each lost just over 2%. Investors pulled back on hopes for near-term Fed rate cuts as oil prices rose and the 10-year Treasury yield hit 4.38%. Nvidia and Tesla fell over 3%, while FedEx rose after raising its outlook.