U.S. equities finished the week lower, extending a recent pullback as investors navigated policy uncertainty and a packed calendar of market-moving catalysts. Investor's Business Daily reported the S&P 500 fell 1.4% for the week while the Dow Jones Industrial Average slipped 1.2%. The Nasdaq dropped 2.1%, marking its fifth consecutive weekly decline.

Why markets care: Weekly declines can signal tightening financial conditions and shifting risk appetite — especially when led by tech-heavy benchmarks like the Nasdaq. Traders often look to upcoming data releases and central bank communications to determine whether a pullback is a pause, a rotation, or the start of a deeper drawdown.

Tariffs as a wildcard: The IBD outlook highlighted uncertainty tied to the Supreme Court's pending review of the constitutionality of a large set of tariffs. Markets have been sensitive to tariff headlines because they can influence corporate costs, consumer prices and global growth expectations.

Catalysts ahead: The report pointed to key items investors are watching in the coming days, including Federal Reserve minutes and major earnings such as Walmart.

What to watch next: Beyond the immediate event risk, investors will monitor whether selling pressure broadens, how leadership shifts across sectors, and whether economic data supports a scenario of moderating inflation without a sharp slowdown in growth.