US stocks close lower, post weekly, monthly losses

US stocks declined on Friday, recording weekly and monthly losses, pressured by producer price index (PPI) data that came in well above expectations, heightening concerns over persistent inflation.

The Dow Jones Industrial Average fell 1% (521 points) to 48,977, posting a weekly loss of 1.30%, though it edged up 0.17% for February.

The S&P 500 declined 0.43% (29 points) to 6,878, recording weekly and monthly losses of 0.44% and 0.86%, respectively.

The Nasdaq Composite dropped 0.92% (210 points) to 22,668, marking a weekly loss of 0.95% and a sharper monthly decline of 3.38%.

In Europe, the Stoxx Europe 600 rose 0.11% to close at a record 633 points, gaining 0.52% for the week and 3.74% in February—its eighth consecutive monthly gain.

The UK’s FTSE 100 advanced 0.70% to a record 10,922. France’s CAC 40 fell 0.47% to 8,580. Germany’s DAX closed flat at 25,284.

In Japan, the Nikkei 225 rose 0.16% to 58,850, closing at an all-time high, while the broader Topix index gained 1.50% to 3,938.

As for oil market, Brent crude futures for April delivery rose 2.45% ($1.73) to $72.48 per barrel, gaining 1% for the week and 2.53% in February.

WTI crude (April) climbed 2.78% ($1.81) to $67.02 per barrel, up 0.95% weekly and 2.77% for the month.

Gold (April futures) increased 1% ($53.7) to $5,247.90 per ounce, advancing 3.28% weekly and 10.60% in February.

What Drove Markets?

Stronger-than-expected PPI data intensified concerns over mounting inflationary pressures and the possibility that the Federal Reserve may delay resuming interest rate cuts. Markets also remained unsettled amid ongoing geopolitical uncertainty and persistent concerns surrounding developments in artificial intelligence.