Tariff Jitters Hit Stocks, Silver Jumps To 14-Year Highs: What's Moving Markets Friday?

Zinger Key PointsWall Street retreated Friday as Trump prepared new tariffs.Gold surged past $3,355 and silver hit a 14-year high as investors flocked to safe-haven assets amid rising trade tensions.Small caps drop over 1% as trade fears weigh on investor sentiment.Up Next: Get 5 Dark Horse Stocks Wall Street Is Quietly Loading Up OnWall Street is poised to conclude the week on a cautious note, with equities easing on Friday after President Donald Trump signaled amore aggressive trade stance.A formal letter outlining tariff intentions is expected to be delivered to EU leaders in the coming hours, following Trump’s announcement earlier this week of a 35% tariff on Canadian imports starting Aug. 1 and blanket duties of 15% to 20% on most other trading partners.The S&P 500 dipped 0.2% and the Nasdaq Composite was flat, after both notched fresh record highs on Thursday. The Dow Jones Industrial Average fell nearly 300 points, dragged down by renewed fears of a global trade escalation and weak sentiment in industrials and financials. Small caps, which had outperformed in recent sessions, dropped over 1%.Treasury markets reflected the increased anxiety. The yield on the 10-year U.S. Treasury note climbed nearly 4 basis points to 4.39%, as investors braced for potential inflationary effects from tariffs.Commodities took center stage, with gold jumping over 1% to $3,355 per ounce, supported by safe-haven flows amid deepening trade frictions. Silver extended its bullish run, surging past $38 per ounce, its highest level in nearly 14 years.Crude oil prices also regained momentum, with West Texas Intermediate (WTI) futures rising above $68 per barrel, recovering from a 2.5% loss in the prior session.BitcoinBTC/USDpulled back modestly after hitting a new all-time high of $118,839 overnight. The largest cryptocurrency was last trading near $117,500 as broader risk sentiment weakened.Friday’s Performance In Major US Indices, ETFsMajor IndicesPriceChg %Nasdaq 10022,842.010.0%S&P 5006,267.82-0.2%Dow Jones44,374.39-0.6%Russell 20002,242.18-1.0%Updated by 1:30 p.m. ETAccording toBenzinga Prodata:TheVanguard S&P 500 ETFVOOfell 0.3% to $573.92.TheSPDR Dow Jones Industrial AverageDIAdropped 0.6% to $443.91.The tech-heavyInvesco QQQ Trust SeriesQQQflattened at $555.28.TheiShares Russell 2000 ETFIWMdropped $222.59.TheEnergySelect Sector SPDR FundXLEoutperformed, up 0.5%; theHealth Care Select Sector SPDR FundXLVlagged, down 1.1%.Friday’s Stock MoversHalliburton Co.HALrallied 3.7% after TD Cowen raised its price target to $36 from $32, while reiterating a Buy rating.Enphase Energy Inc.ENPHfell 4.5% after HSBC lowered its price target to $47 from $50, maintaining a Hold rating.Boyd Gaming Corp.BYDtumbled 6% after announcing it will sell its 5% stake in FanDuel to Flutter Entertainment for $1.76 billion. The deal is expected to close in the third quarter of 2025.Loading...Loading...Read Next:Goldman Sachs: 4 Must-Buy Chip Stocks, And A Few You Should ForgetImage created using artificial intelligence via Midjourney.$BTCBitcoin$117589.401.34%Stock Score Locked: Want to See it?Benzinga Rankings give you vital metrics on any stock – anytime.Reveal Full ScoreEdge RankingsMomentum95.45Price TrendShortMediumLongOverviewBYDBoyd Gaming Corp$80.45-5.76%DIASPDR Dow Jones Industrial Average ETF$443.83-0.60%ENPHEnphase Energy Inc$41.25-4.00%HALHalliburton Co$22.913.41%IWMiShares Russell 2000 ETF$222.28-1.12%QQQInvesco QQQ Trust, Series 1$555.17-0.05%VOOVanguard S&P 500 ETF$573.91-0.24%XLBMaterials Select Sector SPDR$91.30-1.06%XLESPDR Select Sector Fund - Energy Select Sector$89.210.54%XLVSPDR Select Sector Fund - Health Care$134.93-1.02%Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. . .EarningsAnalyst RatingsOptionsDividendsIPOsdate▲▼ticker▲▼name▲▼Price Target▲▼Upside/Downside▲▼Recommendation▲▼Firm▲▼Click to see moreAnalyst RatingsupdatesAnalyst CalendarJoin Benzinga Edge and unlock all the major upgrades, downgrades, and changes to the market's most accurate analysts.Click to JoinPosted In:Analyst ColorGovernmentMacro Economic EventsRegulationsBroad U.S. Equity ETFsSpecialty ETFsCommoditiesTop StoriesEconomicsMarketsAnalyst RatingsETFs