NEW YORK, New York - Wall Street ended the week mixed on Friday after the new head of the Federal Reerve raised concerns about the stickiness of inflation, warning that a rate hike is still on the table 

Kevin Warsh, who recently replaced Jay Powell in the nation's number one hot seat, echoed his predecessor's position. "Here is my standard: We must be confident that underlying inflation is moving to our objective, clearly and at sufficient speed. Otherwise, we have work to do. That's our job ... our mandate ... and our charge to keep," Warsh told attendees at the Fed's annual Jackson Hole economic symposium in Wyoming.

The Standard and Poor's 500 fell 19.23 points, or 0.25 percent, to end at 7,711.76. Trading volume reached 2.584 billion shares, as the benchmark index traded between a low of 7,700.91 and a high of 7,771.48 during the session. The index remains well above its 52-week low of 6,316.91 but below its peak of 7,816.70.

The Dow Jones Industrial Average slipped 9.45 points, or just 0.02 percent, closing at 53,559.99. The blue-chip index traded in a narrow range, with a session low of 53,489.41 and a high of 53,819.65, on volume of 506.696 million shares. The Dow's 52-week range stands between 44,948.16 and 54,744.33.

The NASDAQ Composite was the session's biggest loser among major U.S. indexes, dropping 138.93 points, or 0.52 percent, to finish at 26,402.42. Technology and growth stocks came under pressure, with the index trading between 26,359.27 and 26,700.68 on volume of 7.314 billion shares. The Nasdaq's 52-week low is 20,690.25, while its high sits at 27,190.21.

Investors and traders pointed to a combination of factors behind Friday's pullback, including cautious comments from Federal Reserve officials and lingering concerns over corporate earnings growth in the second half of the year. Technology shares, which have led much of the rally in 2026, were particularly vulnerable to profit-taking as the session wore on.

Despite the day's losses, all three major U.S. indexes remain comfortably above their 52-week lows, reflecting the broader uptrend that has characterised much of the year.

All three U.S. indexes finished the week with modest gains, underscoring resilience despite Friday's pullback. The TSX, however, ended the week on a weaker note as commodity prices softened.

Trading volumes were lighter than average heading into the holiday weekend, with many traders already on the sidelines. Full activity is expected to resume on Tuesday.

U.S. Dollar Mixed at Close Friday, Japanese Yen Hits 160.00 Level Again

The global foreign exchange market settled Friday with the U.S. dollar showing a mixed performance against major currencies, as the euro remained flat while the Japanese yen came under pressure.

The euro was little changed against the greenback, with the EUR-USD pair settling at 1.1587, rising 0.01 percent. 

The U.S. dollar gained ground against the Japanese yen, with the USD-JPY pair climbing to 160.06, an increase of 0.42 percent. The yen's weakness reflected ongoing divergence in monetary policy expectations between the Federal Reserve and the Bank of Japan.

Sterling was lower, with GBP-USD trading down 0.40 percent to last trade at 1.3539. Long-term Gilt yields ended higher on Friday, continuing to trade at the lofty levels of circa 5.80 percent.

The Australian dollar declined, with the AUD-USD pair rlosing 0.42 percent to settle at 0.7164. 

The U.S. dollar strengthened against its Canadian counterpart, with USD-CAD adding 0.33 percent to last trade at 1.3901. The loonie faced headwinds from softer oil prices and cautious remarks from the Bank of Canada earlier in the week.

Meanwhile, the greenback also gained against the Swiss franc, as USD-CHF rose 0.61 percent to settle at 0.8091. The safe-haven franc came under pressure as global equity markets held largely steady and investors rotated modestly out of defensive positions.

Global Markets Close Mixed on Friday as Tech Gains Offset Regional Weakness

World stock markets ended Friday's trading session with a mixed performance, as European indexes notched up solid gains while Asian bourses struggled amid regional economic concerns. Canadian equities fell sharply.

In London, the FTSE 100 closed at 10,824.26, adding 31.72 points, or 0.29 percent.

Germany's DAX P also finished higher at 26,569.99, rising 202.75 points, or 0.77 percent.

In France, the CAC 40 outperformed its peers, settling at 8,401.18, up 81.31 points, or 0.98 percent. The broader EURO STOXX 50 I index advanced 60.94 points, or 0.95 percent, to end at 6,485.67.

The Euronext 100 Index climbed 14.26 points, or 0.75 percent, to 1,927.16, while Belgium's BEL 20 gained 30.41 points, or 0.52 percent, closing at 5,869.08.

Canada's S&P/TSX Composite index finished lower, tumbling 280.33 points, or 0.76 percent, to close at 36,553.92. Trading volume reached 233.629 million shares, as energy and materials sectors weighed on the Toronto market.

Asian markets were more subdued. In Hong Kong Friday, the HANG SENG INDEX managed a slight uptick of 19.05 points, or 0.07 percent, finishing at 25,584.79.

China's SSE Composite Index edged lower by 4.39 points, or 0.11 percent, closing at 3,952.18 on trading volume of 3.814 billion shares.

In Japan, the Nikkei 225 advanced, gaining 273.59 points, or 0.41 percent, to close out the week at 66,405.56.

Singapore's STI Index rose 15.81 points, or 0.28 percent, to 5,699.93.

Australia saw positive moves, with the S&P/ASX 200 [XJO] adding 54.10 points, or 0.60 percent, to 9,092.30, and the ALL ORDINARIES [XAO] climbing 51.10 points, or 0.55 percent, to 9,294.30. Across the Tasman, New Zealand's S&P/NZX 50 INDEX GROSS fell 111.87 points, or 0.81 percent, to 13,768.18.

In India, the S&P BSE SENSEX advanced 330.91 points, or 0.43 percent, closing at 77,264.51.

However, several Asian indexes finished in the red on Friday. The IDX COMPOSITE in Indonesia slipped 3.63 points, or 0.06 percent, to 6,518.12. In Malaysia, FTSE Bursa Malaysia KLCI dropped 15.84 points, or 0.91 percent, ending at 1,725.88. 

South Korea's KOSPI Composite Index was the day's biggest loser, tumbling 123.49 points, or 1.79 percent, to close at 6,788.88.

Elsewhere in Asia on Friday, in Taiwan, the TSEC CAPITALIZATION WEIGHTED ST bucked the trend, rising 356.23 points, or 0.77 percent, to 46,331.45

In Israel, the TA-125 lost 12.22 points, or 0.30 percent, finishing at 4,081.95. Most other Middle East markets were closed on Friday, and were scheduled to reopen on Sunday.

In Africa, South Africa's Top 40 USD Net TRI Index rose 53.24 points, or 0.72 percent, to 7,398.58. 

(This report incorporates quotes retrieved with the assistance of artificial intelligence).

Related stories:

Thursday 27 August 2026 | Tech stocks shine Thursday, Nasdaq surges 411 points | Big News Network 

Wednesday 26 August 2026 | U.S. stocks take a breather, Dow Jones drops 113 points | Big News Network

Tuesday 25 August 2026 | U.S. stock markets shrug off Iran sanctions, Nasdaq climbs 171 points | Big News Network 

Monday 24 August 2026 | Wall Street ends mixed Monday as pressure on bonds eases  | Big News Network 

Photo credit: NYSE