15.05.202613:32:49UTC+00US Stocks Retreat from Records

US equities pulled back from record highs on Friday as surging energy prices and the prospect of a more hawkish Federal Reserve moved back into focus. The S&P 500 fell 1%, the Nasdaq dropped 1.7%, and the Dow declined 0.7%. Selling was concentrated in AI hyperscalers and infrastructure names, following a wave of strong earnings and upbeat guidance that had fueled a speculative rally earlier in the week. Nvidia, Tesla, Amazon, Oracle, and Alphabet each fell as much as 4%.

Broader sectors also came under pressure amid mounting worries that higher energy costs could stoke inflation and keep Fed policy restrictive for longer. A run of robust economic data has bolstered the case of policymakers arguing for a tighter stance: jobless claims have stayed low, the retail sales control group jumped sharply, and producer prices have accelerated.

In single-stock moves, Boeing extended a 5% slide from the prior session after reports that new orders from Chinese airlines were roughly half of what had been anticipated. Newly listed Pershing Square edged 1% lower after revealing it had taken a stake in Microsoft.