Investing.com – Here's a peek at the top 5 things that rocked U.S. markets this week.
The ‘Trumpflation’ trade deflates
The Dow, S&P 500 and the Nasdaq ended the week in negative, as the House of Representatives’ withdrew a health care bill to repeal and replace parts of Obamacare, after chances of passing the bill appeared slim amid a lack of votes.
U.S. crude futures shed 1.7% for the week
Crude prices slid 1.7% for the week, after crude oil inventories swelled to record highs. The EIA said crude inventories rose by 5 million barrels to 533.1 million for the week ended March 15.
Nike tumbled more than 7%
Shares of Nike Inc (NYSE:NKE) tumbled more than 7% to $53.77 on Wednesday, after the sports brand apparel retailer posted its fiscal third quarter earnings, which missed analysts’ estimates.
Gold notched its second weekly gain
Despite a dip in gold prices on Friday, the yellow metal notched its second weekly gained, as it benefited from a broad based selloff in the dollar.
The dollar dipped to a four-month low against the yen
USD/JPY slumped to a four-month low, as uncertainty concerning the strength of the U.S. stock market increased demand for the yen, which is considered a safe-haven currency.