US stock indexes closed higher on Friday, capping off a volatile trading session and ending a roller-coaster week. The Dow Jones industrial average rose 619 points, or 1.56%, while the S&P 500 surged 1.81% and the Nasdaq jumped 2.06%.
The US dollar continued to lose ground, slipping 1% on Friday and losing 3% for the week. This has pushed the dollar to its lowest level against the euro in three years.
Treasury bonds also fell further, with yields rising 8.4 basis points to 4.476%. However, investors have turned to gold, which saw prices hit fresh highs. The precious metal surged 2.4% on Friday to a new all-time high of $3,252.60 per ounce, finishing off a 9% weekly gain.
The market’s performance has been driven by trade tensions between the US and China. However, Beijing has signaled that it will no longer engage in tit-for-tat retaliation, giving markets some hope that further escalation could be avoided. Despite this, many expect trade between the two nations to essentially come to a halt due to tariffs.
The decline of the dollar and Treasury bonds has accelerated the “de-dollarization” trend, with investors seeking safe-haven assets like gold. This trend erodes the long-held status of these assets as traditional safe havens.
Source: https://fortune.com/2025/04/11/stock-market-today-dow-sp500-nasdaq-dedollarization-usd-treasury-yield-gold