From Yahoo Finance: 2025-03-28 06:17:00

Wall Street stocks ended sharply lower on Friday due to fears of weak economic growth and high inflation from U.S. data and escalating tariffs. Consumer spending and prices rose less than expected in February. Inflation expectations hit a 2-1/2 year high. Shares of tech giants like Apple, Microsoft, and Amazon dropped significantly. The S&P 500, Nasdaq, and Dow Jones all fell. Interest rate futures suggest a 76% chance of a rate cut by June. The S&P 500 is down 9% from its record high. Auto stocks also suffered due to impending tariffs. Lululemon Athletica lowered its forecasts due to tariff unpredictability. Gold mining companies rallied on trade war concerns. The S&P 500 is on track for its first quarterly decline in six quarters, and the Nasdaq is facing its deepest quarterly drop since 2022. UBS Global Wealth Management lowered its year-end S&P 500 target. Wolfspeed’s shares slumped after appointing a new CEO. Declining stocks outnumbered rising ones in the S&P 500. Volume on U.S. exchanges was relatively light.

Read more: Wall Street tumbles as fresh data fuels inflation fear