Both the S&P 500 (SPX) and the Nasdaq 100 (NDX) are trading lower on Friday following the conclusion of the Trump-Xi summit.
Claim 55% Off TipRanks
Forget margin or options. Here's how the pros trade QQQAI stocks are taking a hit after President Trump said China has not yet placed any orders for Nvidia (NVDA) H200 chips and seeks to develop its own technology. Investors expecting major tech deals between the two countries were also left disappointed. Earlier this week, the U.S. approved the sale of H200 chips to China.
Rising Yields Pressure Stocks
Meanwhile, the 10-year Treasury yield has climbed to its highest level since June 2025 amid fears of inflation. With higher yields, investors are less incentivized to purchase stocks because safer fixed-income assets offer more attractive returns.
On Wednesday, the Bureau of Labor Statistics (BLS) announced that the U.S. Producer Price Index (PPI) rose 1.4% month-over-month in April, nearly tripling expectations of 0.5% and marking the fastest pace of growth since 2022. The index tracks the prices that producers charge for their goods and services and is often viewed as an early indicator of inflation.