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#US #stocks are falling steeply Friday following discouraging updates on inflation & how much US households may be willing to spend given all the #uncertainty about #Trump’s escalating #TradeWar.
The S&P 500 was down 1.5% in midday trading. That would make this the 5th losing week in the last 6 for the index….
The Dow was down 520 points, or 1.2%, as of 11:30AM ET, & the Nasdaq composite was 2.1% lower.
#economy #tariffs #jobs #insecurity #trumpcession #recession
https://apnews.com/article/market-rates-trump-tariffs-91a5088aa36966aaf5e0971147a66930
#Consumer sentiment worsens as #inflation fears grow, University of Michigan survey shows
It was the 3rd consecutive decrease & stretched across party lines & income groups, survey dir Joanne Hsu said.
…In addition to worries about the current state of affairs, the survey's index of consumer expectations tumbled to 52.6, down 17.8% from 1 month ago & 32% for the same period in 2024.
#Trump #economy #tariffs #jobs #insecurity #trumpcession #recession
https://www.cnbc.com/2025/03/28/consumer-sentiment-worsens-as-inflation-fears-grow-university-of-michigan-survey-shows.html
#Inflation fears drove much of the downturn. Respondents expect inflation a year from now to run at a 5% rate, up 0.1 percentage point from the mid-month reading & a 0.7 percentage point acceleration from February. 
At the 5-year horizon, the outlook now is for 4.1%, the first time the survey has had a reading above 4% since February 1993.
#Trump #economy #tariffs #jobs #insecurity #trumpcession #recession
https://data.sca.isr.umich.edu/