Dow Drops 119 Points as Nasdaq Gains Slightly; Bitcoin Stabilizes at $103K Amid China Rumors

U.S. stock markets concluded the week with varied outcomes as investor sentiment remained cautious ahead of the anticipated trade discussions between U.S. and Chinese officials in Switzerland this weekend.

The Dow Jones Industrial Average fell by 0.3%, while the Nasdaq Composite saw a slight rise of 0.0043%, and the S&P 500 hovered near the flatline, decreasing by 0.07%.

This trading activity follows an initial U.S.-U.K. trade agreement; however, new tariff discussions have left the markets feeling unsettled. U.S. President Donald Trump announced an “80% Tariff on China” on Truth Social, down from the current 145%, yet still exceeding the sub-60% predictions mentioned earlier in the week.

“This week’s developments were promising, but we are still navigating the fluctuations of the news cycle,” said Mark Hackett from Nationwide. “A period of sideways volatility is likely until we receive clear outcomes.”

Bitcoin’s Rise

In the meantime, Bitcoin (BTC) climbed past $104,000 on Friday morning, driven by strong institutional inflows and ETF performance. According to Bloomberg data, spot Bitcoin ETFs have achieved a new lifetime high in cumulative flows at $40.33 billion. The largest cryptocurrency by market capitalization retraced some of its gains, trading around $103,000 following Wall Street’s close.

Additionally, Wells Fargo noted that only 13 companies have pulled back their earnings guidance this season, a figure lower than expected, which they describe as a “positive surprise.” Companies like Ford, Delta, and Snap were among those updating their forecasts.