Kamal Ghorui
US stocks edged lower in early trade on Friday, putting Wall Street on course for a fourth consecutive weekly loss, although a modest easing in oil prices helped stabilise broader global markets, according to an AP report.The S&P 500 declined 0.5% in morning deals and was headed toward its longest losing streak in a year. The Dow Jones Industrial Average dropped 126 points, or 0.3%, while the Nasdaq Composite slipped 0.8% as of 9:35 am Eastern Time.Market sentiment remained weighed down by a further rise in Treasury yields, which increases borrowing costs for companies and households and tends to pressure valuations across asset classes. Yields have been climbing since the Iran conflict began amid concerns that prolonged disruptions to energy supply could drive inflation higher.Growing uncertainty over inflation has also reshaped expectations around US monetary policy. Traders have largely abandoned bets on multiple interest-rate cuts this year and are even pricing in a small probability of a rate hike in 2026, data from CME Group showed.Lower borrowing costs would typically support growth and investment prices — a stance US President Donald Trump has strongly advocated — but such easing could aggravate inflationary pressures.Outside the United States, equity markets showed greater resilience after heavy losses in the previous session. Major European indices moved marginally higher and South Korea’s market gained 0.3%, although Chinese benchmarks weakened.A slight pullback in oil prices provided some relief. Brent crude, the global benchmark, dipped 0.3% to $108.29 a barrel, while US benchmark crude remained broadly flat at $95.53. Oil has been highly volatile in recent weeks as investors gauge the duration and economic impact of the conflict in West Asia, particularly disruptions to shipments through the Strait of Hormuz, which handles roughly one-fifth of global crude flows.On Wall Street, shares of Super Micro Computer plunged 28.2% after US authorities accused a senior executive and two affiliates of conspiring to smuggle advanced Nvidia-based servers to China. The company said it is cooperating with investigators and has placed the employees concerned on administrative leave while ending ties with an accused contractor.FedEx, however, rose 2.8% after reporting quarterly earnings that exceeded analysts’ expectations.In fixed-income markets, the yield on the 10-year US Treasury climbed to 4.32% from 4.25% late Thursday and from about 3.97% before the onset of the Iran conflict.
