The S&P and Dow eked out slight gains, erasing earlier losses after comments from US president Donald Trump provided hope that previously announced tariffs expected to begin in early April may not be as burdensome as feared.
US stocks closed slightly lower overnight after veering between gains and losses as investors gauged the latest round of economic data and the Federal Reserve's policy statement against tariff concerns.
US stocks rebounded on Friday as investors hunted for bargains at the end of a tumultuous week in which US president Donald Trump's escalating trade war fuelled recession fears and doused risk appetite.
Australian shares have have plunged into correction territory, as Donald Trump's tariffs pour fuel on the embers of an increasingly likely global economic slowdown.
The Australian share market recovered ground from an early-session plunge but still finished the day lower after US recession fears and a Wall St sell-off sent investors ducking for cover.
The US stock market's sell-off cut deeper overnight as Wall Street questioned how much pain president Donald Trump will let the economy endure through tariffs and other policies in order to get what he wants.
The Australian share market has staged a modest comeback after a week of declines, but all eyes are on how Donald Trump's new tariffs on steel and aluminium unfold.