Dow closes more than 700 points lower and the S&P 500 is on track for its worst quarter since 2022 | CNN Business
www.cnn.com
US stocks tumbled Friday and a broad selloff gripped Wall Street as investors digested slightly stubborn inflation data and weakening consumer sentiment while wrestling with continued tariff anxiety.

US stocks were sharply lower Friday as investors digested souring consumer sentiment and inflation data that showed an uptick in one of the Federal Reserve’s key gauges, underscoring the delicate state of the economy as businesses brace for President Donald Trump’s tariffs.

The Dow tumbled 750 points, or 1.77%, on Friday. The broader S&P 500 fell 2.1% and the Nasdaq Composite slid 2.8%.

. . .

Wall Street was also grappling with Trump’s announcement on Wednesday of 25% tariffs on all cars shipped into the US, set to go into effect April 3. Trump also announced tariffs on car parts like engines and transmissions, set to take effect “no later than May 3,” according to the proclamation he signed.

MBFC
Archive

  • Asetru@feddit.org
    91·
    5 days ago

    We also believe the dynamic macro environment has contributed to a more cautious consumer

    Am I getting this right? Is this double speak for “the government is fucking up so badly, people try to save some wealth for the inevitable fall of society”?