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US stocks opened mixed as investors cautiously returned to tech and growth stocks, while healthcare weighed heavily on the broader market as global financial markets remained volatile on Thursday.Investors assessed a mix of corporate earnings, central bank signals, and geopolitical developments. While some sectors showed signs of recovery, others continued to feel pressure amid persistent uncertainty surrounding US trade policy and interest rate expectations.
At 9:35 AM ET, the S&P 500 was up 11.97 points, or 0.23%, at 5,287.67, while the Nasdaq gained 20.91 points, or 0.13%, to trade at 16,328.07. However, the Dow Jones Industrial Average tumbled sharply, falling 500.65 points, or 1.26%, to 39,168.74 around 9:35 AM ET, dragged lower by continued weakness in UnitedHealth and other healthcare majors. The stock has been under pressure amid regulatory scrutiny and investor concerns over rising costs.
Commodities showed a split trend. Around 9:38 AM ET, gold prices slipped $9.60 to $3,336.80 per ounce, as investors rotated slightly out of safe-haven assets amid a tentative return to risk. Meanwhile, crude oil continued its upward trajectory, with prices rising $0.99 to $63.46 per barrel, supported by ongoing supply concerns.
In the bond market, the US 10-year Treasury yield ticked up to 4.29% reflecting a slight shift in sentiment as equities tried to stabilize. On the currency front, the euro slipped to $1.137, down 0.29% against the dollar, ahead of a key European Central Bank decision due later in the day, as per CNBC.
Meanwhile, Global stock markets moved in divergent directions on Thursday as investors weighed a looming interest rate cut by the European Central Bank against escalating tensions between US President Donald Trump and Federal Reserve Chairman Jerome Powell.
European indices declined in midday trading, pulling back from earlier gains in Asia. London’s FTSE 100 was down 0.7 percent at 8,218.19, Paris’ CAC 40 slipped 0.8 percent to 7,268.90, and Frankfurt’s DAX dropped 0.6 percent to 21,178.14.
In contrast, Asian markets closed mostly higher, buoyed by optimism surrounding Japan-US trade talks. Tokyo’s Nikkei 225 surged 1.4 percent to 34,377.60, the Hang Seng Index in Hong Kong rose 1.6 percent to 21,395.14, and Shanghai’s Composite Index edged up 0.1 percent to 3,280.34.
Meanwhile, safe-haven gold hit a new record above $3,357.78 an ounce, while oil prices and the US dollar posted modest gains. Brent crude rose 1.0 percent to $66.51 per barrel and West Texas Intermediate increased 1.2 percent to $62.55.
Market sentiment remained cautious as President Trump renewed criticism of Fed Chairman Powell, accusing him of failing to match the ECB’s monetary easing and calling for his dismissal. Trump’s comments followed Powell’s warning that the administration’s broad-based tariffs could leave the central bank with difficult choices between curbing inflation and preserving employment.
The warning, along with chipmaker Nvidia’s disclosure of mounting costs from the ongoing US-China trade war, triggered a sharp selloff on Wall Street. The Dow Jones Industrial Average closed down 1.7 percent at 39,669.39.
Trump responded Thursday by slamming Powell’s leadership, stating his “termination cannot come fast enough.”
Attention is now firmly on the ECB, which is widely expected to lower interest rates in response to economic uncertainty stoked by protectionist trade policies and slowing global growth.
Investors are also monitoring developments in Washington, where governments are scrambling to secure trade agreements before Trump’s recently announced tariffs — delayed for 90 days — come into effect. On social media, the president said there had been “Big Progress!” in talks with Japanese officials, a sentiment echoed by Tokyo’s envoy Ryosei Akazawa.
Japan’s Prime Minister Shigeru Ishiba acknowledged the complexity of the negotiations but reaffirmed both sides’ urgency to reach a resolution.
Key figures at 1130 GMT
- London – FTSE 100: DOWN 0.7 percent at 8,218.19 points
- Paris – CAC 40: DOWN 0.8 percent at 7,268.90
- Frankfurt – DAX: DOWN 0.6 percent at 21,178.14
- Tokyo – Nikkei 225: UP 1.4 percent at 34,377.60 (close)
- Hong Kong – Hang Seng Index: UP 1.6 percent at 21,395.14 (close)
- Shanghai – Composite: UP 0.1 percent at 3,280.34 (close)
- New York – Dow: DOWN 1.7 percent at 39,669.39 (close)
- Euro/dollar: DOWN at $1.1368 from $1.1395 on Wednesday
- Pound/dollar: DOWN $1.3234 at $1.3235
- Dollar/yen: UP at 142.50 yen from 142.12 yen
- Euro/pound: DOWN at 85.91 pence from 86.06 pence
- Brent North Sea Crude: UP 1.0 percent at $66.51 per barrel
- West Texas Intermediate: UP 1.2 percent at $62.55 per barrel
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