** S&P 500 .SPX snaps two-week winning streak, drops 2.4% amid Trump's tariffs blitz, weak payrolls and earnings reports barrage .N

** Dow .DJI sheds ~3% and Nasdaq Composite .IXIC loses ~2%

** DJI started the week once again knocking on the new highs door, only to face another rejection

** And the S&P 500 index's streak of record closing highs ended Mon at six, prior to four straight days of declines

** U.S. 10-Year Treasury yield US10YT=RR dives Fri to ~4.22%, on track for third weekly decline in a row; indeed, the yield may still have a surprise up its sleeve US/

** Nearly every sector steamrolled: Materials and Consumer Discretionary throttled, while Utilities hold the line

** Materials .SPLRCM melt 5.4%. Freeport-McMoran FCX.N tracks copper metal prices lower on demand concerns, and stumbles after President Trump says U.S. to impose 50% tariff on copper pipes and wiring

** Consumer Discretionary .SPLRCD descends 4.5%. Amazon.com AMZN.O tumbles after cloud computing growth disappoints

** Healthcare .SPXHC retreats 3.9%. Dental products maker Align Technology ALGN.O plunges after qtrly results miss, bleak forecast. ALGN plummets ~33% on the week

UnitedHealth UNH.N slumps as co signals prolonged pain with new, lower 2025 earnings forecast

** Financials .SPSY flop 3.8%. Economically sensitive bank stocks slide Fri after data signals slowing labor market

For the week, S&P 500 banks index .SPXBK down 4.7%, KBW regional banking index .KRX off 5%

** Industrials SPLRCI relent 3.3%. UPS UPS.N skids as new 'de minimis' tariffs on low-value Chinese shipments dent demand

** Energy .SPNY fades 1.6%. Chevron CVX.N beats consensus for Q2 profit with record production, and Exxon Mobil XOM.N surpasses earnings estimates, though both CVX and XOM lose ground Fri

** Tech .SPLRCT down 1.4%. Palo Alto Networks PANW.O falls on $25 bln deal for CyberArk CYBR.O, and KeyBanc downgrade

Apple's AAPL.O qtrly rev surges, beats estimates on iPhone boost; however, AAPL ultimately submits, finishes down ~5% on the week

In contrast, Microsoft MSFT.O jumps on solid Azure cloud growth, reaches $4 trln market value

Semiconductor index .SOX sags ~2%

** Communication Services .SPLRCL flat. Facebook parent Meta Platforms META.O surges on rev forecast beat as AI powers ad sales, outweighs capex hike

** Meanwhile, individual investors express concerns over valuations

** SPX performance YTD:

(Lance Tupper and Terence Gabriel are Reuters market analysts. The views expressed are their own)

((lance.tupper@tr.com ; terence.gabriel@tr.com))