Overview
- U.S. stocks fell Friday, with the S&P 500 down 0.4%, the Dow off 1.1% and the Nasdaq 0.9% lower, as Wall Street closed its second losing month in 10.
- Nvidia shares extended losses after a stronger-than-expected quarter and upbeat outlook, pressuring chipmakers as investors questioned lofty valuations and AI capex durability.
- Block said it will cut over 4,000 jobs—nearly half its workforce—to embed AI across operations, sending the stock sharply higher and underscoring AI-driven corporate restructuring.
- Oil prices jumped roughly 3% as tensions over U.S.–Iran negotiations kept conflict risk elevated, even after Oman reported “significant progress” and plans for technical talks next week.
- Indian equities weakened, capping a third monthly decline, with the IT index plunging about 19.5% in February, FIIs turning net sellers and DIIs stepping in as net buyers.