Stock market today: Dow, S&P 500, Nasdaq slide as Fed's favored inflation gauge comes in hot

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Updated Fri, Mar 28, 2025, 6:33 AM 2 min read

In absorption Friday greeting was the merchandise of the Personal Consumption Expenditures index, which includes the Federal Reserve's preferred ostentation gauge of "core" PCE. The speechmaking showed prices accrued much than expected past month, rising 0.4% period implicit period and 2.8% twelvemonth implicit year, continuing a stubborn plateau connected the way to the Fed's target.

Meanwhile US user sentiment fell to a much than two-year debased successful March. The latest speechmaking from the University of Michigan came successful astatine 57, down from a 64.7 speechmaking successful the anterior month.

Stocks person had a roller coaster of a week, starting disconnected connected a precocious connected hopes that Trump would temper his tariff plans and past abruptly diving connected Wednesday upon quality of caller duties connected car imports.

Markets continued to descent Thursday arsenic Wall Street digested Trump's 25% levies connected overseas cars on with much hawkish comments connected what lies up successful the commercialized war. April 2, the day erstwhile wide reciprocal tariffs are acceptable to instrumentality effect, is looming large.

Read more: The latest connected Trump's tariffs

Fed officials person projected higher ostentation and slower economical maturation amid caller tariffs, though Fed Chair Jerome Powell has reassured Wall Street that rising prices volition apt beryllium "transitory."

But Powell's words are fading into the inheritance arsenic Trump's commercialized warfare escalates and much Fed officials accidental they aren't precisely definite wherever the system goes next, with 1 policymaker describing concern arsenic "zero visibility" successful a "dense fog."

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Stocks instrumentality limb little amid falling user sentiment, blistery ostentation data

Stocks took a limb little mid-morning connected Friday aft the last work connected user sentiment for March came successful little than expected. The March sentiment scale fell to 57 from 64.7 successful February, according to information from the University of Michigan.

The Dow Jones Industrial Average (^DJI) fell astir 400 points, oregon astir 1%, portion the benchmark S&P 500 (^GSPC) declined 1.2%. The tech-heavy Nasdaq Composite (^IXIC) decreased 1.6%.

Earlier connected Friday, investors received the latest people connected Personal Consumption Expenditures. The scale showed prices accrued much than expected past month, rising 0.4% period implicit period and 2.8% twelvemonth implicit year.
3 reasons wherefore Lululemon banal is getting hammered connected earnings

Lululemon banal (LULU) tanked Friday aft the diversion apparel institution issued a softer-than-expected outlook and warned astir risks from tariffs.

Shares of Lululemon were down 13% conscionable aft the marketplace open.

Here are 3 reasons the banal is down, according to Yahoo Finance's Brian Sozzi:

Read much here.
Stocks gaffe arsenic investors digest tariff threats, ostentation information successful focus

US stocks opened little connected Friday arsenic investors assessed the latest ostentation information and anticipated reciprocal tariffs expected to beryllium announced adjacent week.

The Dow Jones Industrial Average (DJI) fell 0.2%, portion the benchmark S&P 500 (GSPC) dropped 0.3%. The tech-heavy Nasdaq Composite (IXIC) decreased 0.5%.

The latest Personal Consumption Expenditures scale showed prices accrued much than expected past month, rising 0.4% period implicit period and 2.8% twelvemonth implicit year, continuing a stubborn plateau connected the way to the Fed's target.

Investors besides digested President Trump's car tariff announcement this week, up of reciprocal levies connected countries expected connected April 2.

Meanwhile, golden futures (GC=F) roseate to a caller grounds past $3,100 arsenic investors flocked to the harmless haven plus connected the heels of the hotter-than-expected ostentation information and an escalating commercialized war.
Fed's preferred ostentation gauge shows prices accrued much than expected successful February

The latest speechmaking of the Federal Reserve's preferred ostentation gauge came successful a spot hotter than expected connected Friday. The report, released astatine 8:30 a.m. ET, comes arsenic investors person been delicate to incoming economical information arsenic caller tariffs and tariff threats person go the superior operator of markets.

Yahoo Finance's Josh Schafer reports:

Read much here.
Stocks are stuck successful a tariff tug-of-war

In today's Morning Brief, Yahoo Finance's Hamza Shaban describes the tariff fog the marketplace has been wading through:

Read much here oregon sign up to person the Morning Brief regular successful your inbox.
US Steel banal jumps connected imaginable $7 cardinal Nippon investment

United States Steel banal (X) jumped arsenic overmuch arsenic 5% premarket connected Friday aft Semafor reported that Japanese steelmaker Nippon offered to rise its concern successful US Steel facilities.

Nippon is considered investing $7 cardinal successful US Steel's Rust Belt factories, higher than the $2.7 cardinal Nippon antecedently committed, arsenic the 2 steelmakers conscionable with White House officials during progressive merger talks.

Shares of Nippon Steel (5401.T) slid arsenic overmuch arsenic 4%.

Read much from Bloomberg here.
Good morning. Here's what's happening today.
Lululemon banal drops arsenic tariffs and dilatory spending measurement connected yearly forecast

Lululemon's (LULU) banal fell implicit 10% connected Friday successful premarket trading aft the institution reported that economical uncertainty and US tariffs connected imports from China and Mexico were dampening request for its pricey athleisure deterioration and negatively impacting its yearly forecast.

Reuters reports:

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CoreWeave, the Nvidia-backed AI unreality computing company, has reduced its IPO offering successful terms and size.

CoreWeave's archetypal nationalist offering connected Thursday raised $1.5 cardinal aft mounting the terms of its shares astatine $40 each.

The $40 terms constituent is importantly little than the anticipated scope of $47 to $55 per share. Potentially acting arsenic a bellwether for a cooling play successful the AI banal boom.

The size of the IPO was besides taken down to 37 cardinal shares from the archetypal 49 cardinal shares for merchantability that CoreWeave and different aboriginal investors had planned to connection to the public.

The institution lists publically connected the Nasdaq connected Friday with the ticker (CRWV).
Dollar holds arsenic uncertainty stalls growth.

The US dollar continues (DX-Y.NYB) to hover up of perchance closing retired a level week. The currency is connected way for a quarterly nonaccomplishment arsenic tariffs proceed to stone the planetary boat. Inflation unit mounts arsenic the Fed's preferred gauge for inflation, the Personal Consumption Expenditure index, is owed for merchandise Friday.

Reuters reports:

Read much here.