U.S. equities closed lower on Friday as weakness in technology, basic materials and oil and gas stocks pushed major indexes into negative territory by the end of trading in New York.
At the close on the NYSE, the Dow Jones Industrial Average was down 1.35%. The S&P 500 retreated 2.64% and the Nasdaq Composite fell 4.18%.
Winners and losers among blue chips
Within the Dow, Procter & Gamble Company (NYSE:PG) was the strongest performer, rising 4.09% - adding 5.76 points to finish at 146.54. Coca-Cola Co (NYSE:KO) gained 3.49%, or 2.68 points, to close at 79.48, and Travelers Companies (NYSE:TRV) rose 3.37% - up 9.89 points to 303.25.
On the downside, Cisco Systems Inc (NASDAQ:CSCO) fell 6.43%, losing 8.36 points to end at 121.64. NVIDIA Corporation (NASDAQ:NVDA) declined 6.20% to 205.10, a drop of 13.56 points. International Business Machines (NYSE:IBM) decreased by 5.61%, or 16.92 points, to finish at 284.84.
S&P 500 movers
Among S&P 500 constituents, Cooper Companies Inc (NASDAQ:COO) led gains with an 8.58% rise to 67.34. Kimberly-Clark Corp (NASDAQ:KMB) climbed 6.28% to settle at 99.04, and Clorox Co (NYSE:CLX) added 5.02% to close at 94.14.
The weakest names on the S&P were notable for steep drops: Enphase Energy Inc (NASDAQ:ENPH) fell 18.01% to 56.07, Micron Technology Inc (NASDAQ:MU) lost 13.25% to a close of 864.01, and Teradyne Inc (NASDAQ:TER) retreated 12.03% to 357.93 at the close.
Notable activity on the Nasdaq Composite
Smaller and micro-cap movers on the Nasdaq posted dramatic percentage moves. Scage Future ADR (NASDAQ:SCAG) surged 194.58% to 0.84. Springview Holdings Ltd (NASDAQ:SPHL) jumped 125.74% to end at 5.35, and Inotiv Inc (NASDAQ:NOTV) climbed 91.80% to 0.17.
Conversely, Nuwellis Inc (NASDAQ:NUWE) plunged 61.21% to 0.17, Nyxoah SA (NASDAQ:NYXH) dropped 49.65% to 1.45, and Cypherpunk Technologies Inc (NASDAQ:CYPH) fell 47.14% to 0.52. Shares of Nuwellis and Nyxoah moved to all-time lows in the session.
Market breadth and volatility
Declining issues outnumbered advancing ones on the NYSE by 1,948 to 821, with 61 unchanged. On the Nasdaq, 2,534 stocks fell while 902 advanced and 146 were unchanged. The CBOE Volatility Index - a gauge of implied volatility on S&P 500 options - rose 40.06% to 21.57, reaching a one-month high.
Commodities and currencies
Gold futures for August delivery fell 3.49% - a drop of 157.28 - to $4,347.72 a troy ounce. In energy markets, July crude oil slipped 2.92% or $2.72 to $90.32 a barrel, and the August Brent contract fell 2.09% or $1.99 to trade at $93.04 a barrel.
In currency moves, the euro against the dollar (EUR/USD) declined 0.75% to 1.15, while the dollar strengthened versus the yen with USD/JPY up 0.16% to 160.20. The US Dollar Index Futures rose 0.66% to 100.04.
Overall, the session featured broad-based selling alongside heightened volatility and pronounced moves in several small-cap names. While defensive and consumer staples names provided pockets of strength, technology and cyclicals weighed on major indexes at the close.