US equities retreated last week amid persistent Federal Reserve hawkishness and broader market uncertainty.
Major US equity indices closed lower for the week, with the Nasdaq 100 declining 4.2% and the S&P 500 losing 2%. The pullback followed signals from the Federal Reserve indicating a prolonged restrictive monetary policy stance.
The Nasdaq 100 underperformed, extending its recent volatility, while the S&P 500 saw its second consecutive weekly decline. Market participants weighed the impact of higher-for-longer interest rates against economic resilience.
Oil prices also slid, adding to the risk-off sentiment across asset classes.