Japan's Index Falls In Correction Territory, Europe Declines On Trade Fears; Gold Surges To New Record - Global Markets Today While US Slept

On Friday, March 28th, U.S. markets closed sharply lower as fears of slowing economic growth, rising inflation, and escalating tariffs under the Trump administration weighed on markets. Major tech stocks like Amazon, Microsoft, and Apple tumbled.

Consumer spending disappointed, inflation expectations surged, and investors grew cautious ahead of new tariffs. Markets anticipate possible interest rate cuts by the Federal Reserve.

In economic data, the Fed’s preferred inflation gauge, the core PCE price index, rose 2.8% year-over-year in February, above the 2.7% forecast. Investor concerns grew as the University of Michigan survey showed 5-year inflation expectations rising to 4.1%, the highest since February 1993.

Most S&P 500 sectors ended lower, led by losses in consumer discretionary, communication services, and tech stocks. Utilities were the exception, closing higher and defying the broader market downturn.

The Dow Jones Industrial Average was down 1.69% at 41,583.90, the S&P 500 slid 1.97% to 5,580.94, and ...