Wall Street closed out August on a cautious note Friday, with all four major indices finishing in the red as investors trimmed risk ahead of the weekend. The S&P 500 shed 0.23% to settle at 7,701.19, while the Dow Jones held up relatively well, dipping just 0.03% to 53,168.91. The tech-heavy Nasdaq bore the brunt of the selling, dropping 0.65% to 26,006.41.
Small caps were the session's clear underperformers. The Russell 2000 fell 1.35% to 2,945.67, signaling that risk appetite was notably thin among traders unwilling to hold smaller, more volatile positions into the weekend. The broad-based weakness in small caps often reflects tightening liquidity and macro uncertainty.
Nvidia was the headline casualty, plunging 4.57% to $217.55 and acting as a significant drag on the Nasdaq. The AI darling has faced mounting scrutiny over valuation and the pace of data center buildout, and Friday's move suggested some investors are locking in gains before any potential September volatility.
Amazon stood out as the session's brightest spot, climbing 3.97% to $266.43 and offering a reminder that not all of Big Tech is moving in lockstep. Gold continued to assert itself as a safe-haven anchor, closing at $4,465.08 — a level that underscores persistent demand for hard assets in an uncertain macro environment.