Wall Street Woes: Tech Stocks Waver Amidst U.S.-Ukraine Turmoil

Wall Street experienced volatile trading as the U.S.-Ukraine meeting ended in disaster, impacting tech stocks. Following a heated exchange between Trump and Zelenskiy, stocks dipped but later recovered. Investor concerns over inflation and economic stagnation persist, with pressure on the Federal Reserve to adjust monetary policy.

Wall Street faced turbulence on Friday as a high-stakes meeting between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskiy ended without resolution, sending shockwaves through the technology sector. While chips, like Broadcom, dipped by 1.1%, heavyweights such as Nvidia, Apple, and Tesla managed modest gains.

The meeting, marred by verbal clashes over Ukraine's conflict with Russia, compounded investor anxiety about persistent U.S. inflation and an economy in flux. Although stocks initially fell, they rebounded as investors reassessed the market conditions. Financials and energy sectors led gains among S&P 500 indices.

With consumer spending down 0.2% and inflation aligned with forecasts, the Federal Reserve's monetary policy remains in a tight spot, reinforcing fears of stagflation. Discussions on technology investments and trade policies continue to impact Wall Street sentiments, with the CBOE Volatility Index reaching new month highs.

(With inputs from agencies.)