U.S. equities saw their first monthly decline since May, as consumer sentiment slid and a tariff deadline in the Sino-American trade war loomed. Treasuries slipped after a key measure of inflation came in as expected, while the euro fell to a two-year low against the dollar.
The S&P 500 fluctuated throughout Friday’s session, finishing almost unchanged on the day, after rallying Thursday on a pause in trade threats between the U.S. and China. But new tariffs on more than $110 billion in Chinese imports are set to take effect Sunday, and President Donald Trump shows little sign of backing down. Meanwhile, a hurricane is heading toward Florida, threatening businesses like amusement park operators and cruise lines.
