U.S. Stock Market Stumbles Amid Economic Uncertainty

U.S. stocks closed slightly lower as investors balanced fresh economic data against Federal Reserve policy and tariff issues. The market remains volatile, with economic forecasts predicting slower growth and heightened inflation. Technology stocks suffered, while energy stocks surged on rising crude prices. Uncertainty continues to overshadow investor sentiment.

U.S. stocks experienced a slight decline on Thursday following periods of gains and losses, as investors assessed the latest economic data and the Federal Reserve's policy statement against ongoing tariff concerns. Selling pressure has grown following indicators suggesting a cooling economy and consumer sentiment amid reciprocal trade tariffs imposed by the Trump administration.

Despite recent volatility, equities rose in three of the past four sessions, with the S&P 500 index climbing over 1% on Wednesday after the Fed announced interest rates would remain unchanged and hinted at two potential interest-rate cuts later this year. The central bank foresees slower economic growth and temporarily higher inflation.

The stock market's instability reflects broader concerns, with technology stocks among the day's weakest performers and energy stocks benefitting from a rise in crude prices. While some companies like Darden Restaurants offered positive outlooks despite tariffs, others, like Accenture, faced setbacks due to federal spending cuts affecting contracts.

(With inputs from agencies.)