From Yahoo Finance: 2025-03-28 00:27:00

Wall Street faced a significant downturn due to concerns over rising inflation and a slowing U.S. economy. The S&P 500 dropped 2%, marking its fifth losing week in the last six. The Dow Jones Industrial Average sank 715 points and the Nasdaq composite fell 2.7%.

Lululemon Athletica and Oxford Industries reported stronger profits than expected but saw stock declines due to consumer spending concerns. The worry is that escalating tariffs may freeze spending, impacting the economy and causing a potential “stagflation” scenario.

Consumer sentiment is deteriorating, with a report showing increased pessimism about future finances. Two out of three consumers expect unemployment to worsen, raising concerns about the job market, a linchpin for the U.S. economy.

The bond market saw a decline in the 10-year Treasury yield, a reflection of waning expectations for U.S. economic growth or inflation. Stock markets worldwide may continue to be shaky as an April 2 tariff deadline approaches, impacting trading partners globally.

Read more: Wall Street tumbles, and S&P 500 drops 2% on worries about slower economy and higher inflation