US stocks fall for third consecutive session, post monthly gains

US stocks declined on Friday as investors assessed President Donald Trump’s decision to nominate Kevin Warsh as Chair of the Federal Reserve, alongside continued pressure on the technology sector. Despite the losses, US equities posted monthly gains.

The Dow Jones Industrial Average fell 0.36%, or 179 points, to 48,892, recording a weekly decline of 0.42%, while posting monthly gains of 1.72%.

The broader S&P 500 slipped 0.43%, or 29 points, to 6,939, extending its losses to a third consecutive session. However, it recorded weekly and monthly gains of 0.34% and 1.36%, respectively.

Meanwhile, the Nasdaq Composite dropped 0.94%, or 223 points, to 23,461, posting a weekly loss of 0.17%, but rising 0.94% over January.

In Europe, the Stoxx Europe 600 rose 0.64% to 611 points, gaining 0.44% over the week and recording gains for the seventh consecutive month, up 2.5% in January — its longest winning streak since 2021.

The UK’s FTSE 100 advanced 0.51% to 10,223 points, Germany’s DAX rose 0.94% to 24,538 points, and France’s CAC 40 gained 0.68% to 8,126 points.

In Japan, the Nikkei 225 edged down 0.10% to 53,322 points, while the broader Topix index rose 0.60% to 3,566 points. Both indices posted weekly losses of 0.95% and 1.75%, respectively, but achieved monthly gains of 5.95% and 4.6%.

Regarding oil, Brent crude futures for March delivery — which expired today — settled at $70.69 per barrel, maintaining weekly gains of 7.30% and surging 16.17% over January.

WTI crude futures for March delivery fell 0.32%, or 21 cents, to $65.21 per barrel, while recording weekly and monthly gains of 6.80% and 13.60%, respectively.

As for gold, February gold futures declined 11.37%, or $604.5, to $4,713.90 per ounce, posting a weekly loss of 5.33%, but achieving monthly gains of around 9%.

Markets were boosted by President Trump’s nomination of Kevin Warsh as Federal Reserve Chair due to his hawkish stance on inflation. However, the nomination dampened expectations for faster and deeper interest rate cuts.