03:45 PM EDT, 08/01/2025 (MT Newswires) -- US benchmark equity indexes are on track to close lower on Friday, after a softer-than-anticipated July jobs report and the declaration of new tariffs by President Donald Trump on imports from several countries.

The Dow Jones Industrial Average was down 1.2% to 43,596.70, while the S&P 500 fell 1.6% to 6,239.63. Nasdaq Composite dropped 2.2% to 20,655.90. Among sectors, consumer staples led the gainers while consumer discretionary rallied the decliners.

Monolithic Power Systems ( MPWR ) was the top gainer on the S&P 500, up 12%. The company reported late Thursday higher-than-projected Q2 results.

First Solar ( FSLR ) shares were up 6.7%, the second-top gainer on the S&P 500. The company raised its 2025 net sales guidance after Q2 results exceeded estimates.

Eastman Chemical ( EMN ) shares sank 19%, the worst S&P 500 performer, after the company's Q2 results missed market expectations.

The 10-year US Treasury yield was down 15.3 basis points to 4.22%, while the two-year rate decreased 25.1 basis points to 3.71%.

September West Texas Intermediate crude oil fell 2.9% to $67.25 a barrel.