03/29/2025

As Fresh Data Fuels Inflation Fears, Wall Street Tumbles

The S&P 500 fell 1.97 percent while the Nasdaq tumbled 2.70 percent

Wall Street stocks ended sharply lower on Friday, with selloffs in Amazon, Microsoft and other technology heavyweights, after U.S. data stoked fears of weak economic growth and high inflation as the Trump administration ratchets up tariffs.

U.S. consumer spending rebounded less than expected in February while a measure of underlying prices increased the most in 13 months.

Adding to concerns, a University of Michigan survey showed consumers' 12-month inflation expectations soared to the highest in nearly 2.5 years in March, and they expect inflation to remain elevated beyond the next year.

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