Wall Street Marks Weekly Loss Before Trade Talks

Trade negotiations between the U.S. and China will begin on Saturday

Emma Duncan

Managing Editor

May 9, 2025 at 4:25 PM

The Dow dropped triple-digits to end the week, while the S&P 500 closed quietly in the red, and the Nasdaq finished flat, with all three major benchmarks securing their first weekly loss in three. Meanwhile, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), suffered its third consecutive daily drop and lowest close since April 2. Coming up, investors will be focused on the face-to-face trade talks between the U.S. and China. Ahead of tomorrow's negotiations, President Trump posted on Truth Social that an "80% tariff on China "seems right."

Continue reading for more on today's market, including:

Crypto stocks slides on Q1 blunder.
5-minute refresher on this week's biggest headlines.
Plus, LYFT's post-earnings pop; social media stock surging; and the finance stock for bulls.

5 Things to Know Today

Over 12,000 shipping containers arriving at U.S. ports from China are the first to be faced with Trump's 145% tariffs.(CNBC)
Talks remain ongoing with the U.S. and European officials regarding a 30-day ceasefire in Ukraine. (Bloomberg)
Lyft stock rides higher after earnings.
Revenue beat boosts social media giant.
Finance name could be a good buy for bulls.

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Oil, Gold Futures Pop

Crude futures notched a daily and weekly win. June-dated West Texas Intermediate (WTI) oil climbed $1.11, or 1.85%, at $61.02 for the session and more than 4% for the week.

Tariff concerns pressured the U.S. dollar lower, sending gold higher. June-dated gold added 1.3%, finishing near $3,351.042.5% for the day and up 2.6% for the week.

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