US stocks fall on worries about inflationary impact of tariffs

US stock indices declined on Thursday amid heavy selling of long-term Treasury bonds, driven by concerns over the inflationary impact of new tariffs, pushing government debt yields to their highest levels since late February.

The Dow Jones Industrial Average dropped 0.35%, or 155 points, to settle at 42,299 points, the first loss in six sessions. However, it recorded weekly gain of 0.35%.

The S&P 500 index fell 0.35%, or 18 points, to 5,693 points.

Similarly, Nasdaq Composite lost 0.55%, or 94 points, to close at 17,804 points.

As for European markets, the STOXX Europe 600 inched down 0.45% to 546.3 points.

The British FTSE index lost 0.25% to 8,666 points, while the German DAX index was down 0.7% to 22,678 points. The French CAC 40 index fell 0.5% to 7,990 points.

The Nikkei index retreated 0.6% to 37,799 points, and the broader Topix index gained 0.1% to 2,815 points.

Brent crude futures for May delivery rose over 0.3%, or $0.24, to $74.03 a barrel.

Additionally, futures prices for US West Texas Intermediate (WTI) crude for May delivery added 0.4%, or $0.27, to $69.92 per barrel.

Regarding gold, futures prices for April delivery were up 0.8%, or $23.7, to $3,061 per ounce, their highest ever level.