FX.co ★ US Stock Tumble at Week's End

The S&P 500 fell 1.4%, the Nasdaq dropped 1.6%, and the Dow declined 1% on Friday, as escalating geopolitical tensions and weaker-than-expected labor data prompted a broad reassessment of the U.S. economic outlook. The synchronized market sell-off underscores mounting investor anxiety over the continued rise in WTI crude oil prices and the unexpected loss of 92,000 non-farm payroll jobs in February.

President Trump’s call for Iran’s unconditional surrender, combined with warnings from regional energy ministers about potential force majeure on production, has driven energy prices to levels that threaten global manufacturing capacity. The resulting increase in the unemployment rate to 4.4% has amplified fears of a stagflationary backdrop, in which rising input costs collide with softening consumer demand.

In response, investors moved rapidly to shed risk. BlackRock (-7.2%) restricted withdrawals for the first time from one of its private credit funds, as concerns deepened over private credit exposures and the prospect of broader economic stagnation.