The S&P 500 index fell 3.1% last week, pushing the market benchmark into the red for the year amid worries about tariffs and a weaker-than-expected February jobs report.
The S&P 500 ended Friday’s session at 5,770.20, marking its third consecutive down week. The index has dropped 1.9% from where it ended 2024.
Investors are worried about the economic impacts from the Trump administration’s tariff policies, as well as job cuts. Earlier last week, the administration said it would be placing 25% tariffs on Mexico and Canada, though it later delayed some of the tariffs by a month. Meanwhile, its Department of Government Efficiency has been cutting jobs across the government.
The February employment report showed nonfarm payrolls rose by 151,000, which was smaller than the increase of 160,000 jobs expected in a survey compiled by Bloomberg. The unemployment rate rose to 4.1% in February, from 4% in January. No change had been expected.
All but one sector fell for the week. Financials had the largest percentage drop, sliding 5.9%, followed by a 5.4% decline in consumer discretionary, a 3.8% loss in energy and a 3.4% decline in technology.
Health care was the lone sector in positive territory for the week, edging up 0.2%.
This week, earnings reports are expected from companies including Oracle and Adobe. Economic data will feature the February consumer price index and producer price index, two closely watched inflation readings.
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