Nasdaq Leads Wall Street Losses Amid Dollar Rally, Dow Jones Falls 200 Points

• Technology shares continued their sell-off on Wall Street, causing the Nasdaq to decline nearly 1% and the S&P 500 to fall 0.4% on Friday.
• The Dow Jones initially dropped almost 500 points but recovered to end with losses of just under 200 points.
• Despite Friday's dip, Wall Street benchmark indices recorded monthly gains for January: Dow up 1.7%, S&P 500 up 1.4%, and Nasdaq up 1%.
• Small-cap focused Russell 2000 outperformed, gaining 5% for the month, while oil majors ExxonMobil and Chevron Corp. saw significant monthly gains.
• The US Dollar rallied to its best day in nearly nine months following Kevin Warsh's nomination as Fed Chair, leading to a steep sell-off in silver prices.

Why It Matters: Nasdaq led Wall Street losses as the dollar rallied, but major indices still posted January gains.