US markets post huge declines at weekly close

ISTANBUL

The New York Stock Exchange closed the week with losses amid concerns that tensions in the Middle East would persist for some time.

The Dow dropped sharply by 1.73%, or 793.47 points, to close at 45,166.64.

The Nasdaq composite also posted a sharp decline of 2.15%, or 459.72 points, to 20,948.36, while the S&P 500 saw a strong decrease of 1.67%, or 108.31 points, to 6,368.85.

The Volatility Index (VIX), often referred to as the market’s “fear index,” fell by 12.94% to 30.99 as of 2010GMT.

US President Donald Trump stated on Thursday that he had suspended the decision to target Iran’s power plants until April 6 and noted that negotiations were going well.

US Secretary of State Marco Rubio also said on Friday that military operations against Iran are expected to end in “weeks, not months”, and that Washington could achieve its objectives without the need for ground troops.

Iranian Parliament Speaker Mohammad Baqer Qalibaf, in a post on his social media account, argued that too many “fake news” stories were being circulated to lower energy prices and that the market had become immune to them, noting that the true prices would eventually emerge.

Concerns over disruptions in the Strait of Hormuz and energy supply continued to drive oil prices higher.

The price of Brent crude oil rose by over 5.5% to $114 per barrel as of 2050GMT.

Inflation concerns also led to continued selling pressure in the bond markets. The US 10-year Treasury yield surpassed 4.48% during Friday before settling at 4.43%.

On the macroeconomic data front, the University of Michigan’s consumer sentiment index in the US came in at 53.3 in March following a downward revision, marking the lowest level of the year.

Consumers’ short-term inflation expectations, meanwhile, recorded their largest monthly increase since April 2025 in March, rising from 3.4% to 3.8%.

- European stocks

The stock markets in Europe also saw declines on Friday, with the pan-European Stoxx Europe 600 index lost 0.95% to close at 575.30 points.

The UK’s FTSE 100 decreased slighlty by 0.05% to 9,967.35, Germany’s DAX went down by 1.38% to 22,300.75, and France’s CAC 40 dropped 0.87% to 7,701.95.

Italy’s FTSE MIB 30 was down 0.74% to finish at 43,379.10, while Spain’s IBEX 35 posted a decline of 0.95% to 16,892.50.