2025-03-28 20:03:04Stocks in the US closed sharply lower on Friday, weighed down by rising inflation concerns and growing trade policy uncertainty. The S&P 500 slid 2%, the Dow Jones sank 715 points, and the Nasdaq 100 tumbled 2.7%. Tech giants led the decline, with Alphabet, Amazon and Meta dropping over 4% each, and Microsoft fell 3%. Inflation worries intensified after the University of Michigan’s final consumer sentiment reading for March showed the highest long-term inflation expectations since 1993. Meanwhile, the core PCE price index, the Fed’s preferred inflation measure, rose 2.8% in February, surpassing forecasts, while consumer spending grew 0.4%. Investors braced for further trade disruptions as Trump’s 25% auto tariff takes effect next week, sparking concerns of retaliatory measures from key trading partners. The S&P 500 and Nasdaq lost over 1% and 2% respectively, booking their fifth weekly drop in six weeks, while the Dow declined 0.8%.
2025-03-28 17:14:04US stocks extended their sell-off in afternoon trading, pressured by mounting inflation concerns and escalating trade policy uncertainty. The S&P 500 slid 1.8%, the Dow Jones sank 700 points, and the Nasdaq 100 tumbled 2.7%. Tech giants led the decline, with Alphabet and Amazon dropping over 4%, and Microsoft and Meta falling 3.5%. Inflation worries intensified after the University of Michigan’s final consumer sentiment reading for March showed the highest long-term inflation expectations since 1993. Meanwhile, the core PCE price index, the Fed’s preferred inflation measure, rose 2.8% in February, surpassing forecasts, while consumer spending grew 0.4%. Investors braced for further trade disruptions as Trump’s 25% auto tariff takes effect next week, sparking concerns of retaliatory measures from key trading partners.. The S&P 500 and Nasdaq, down over 1% and 2% respectively, are on track for their fifth weekly drop in six weeks, while the Dow is set to decline 0.8%.