Wall Street closed another tumultuous week with the major indices recording their third consecutive weekly decline.
The S&P 500 dropped 3.1% last week, marking its worst performance since September 2024, according to Reuters and CNBC reports.The tech-heavy Nasdaq suffered an even steeper fall of 3.5%, pushing it firmly into correction territory.
The index has now plummeted more than 10% from its December peak closing value.Meanwhile, the Dow Jones Industrial Average retreated 2.4%, its worst showing since February.
President Trumps fluctuating stance on tariffs remains the primary catalyst for market volatility.His administration imposed 25% tariffs on Mexico and Canada plus an additional 10% on China earlier in the week.
Trump later announced delays for some tariffs until April 2, but this failed to reassure nervous investors.Economic concerns compound these trade worries.
February witnessed 172,000 American job cuts, the highest February total since 2009.
The technology sector continues to shed workers, with approximately 407,000 tech employees losing their jobs since 2022.Tariff Turmoil Drives U.S.
Markets to Third Week of Losses as Recession Fears Grow.
(Photo Internet reproduction)Inflation persists as another significant headwind.
Progress on taming rising prices stalled since the Federal Reserve started cutting interest rates in September.
Januarys Consumer Price Index showed prices growing at 3%, faster than Septembers 2.4% low.Market Outlook Amid Economic UncertaintyFederal Reserve Chair Jerome Powell offered limited comfort on Friday.
He stated the economy remains in a good place but indicated the central bank wont rush to cut interest rates amid uncertain policy conditions.Investors now anxiously await Wednesdays inflation report.
A higher-than-expected CPI reading could further destabilize markets and limit the Feds ability to stimulate growth through rate cuts.Year-to-date performance reflects this challenging environment.
The Nasdaq has declined 5.8%, the S&P 500 has shed 1.9%, while the Dow clings to gains of less than 1%.
Market analysts expect volatility to continue as trade and economic uncertainties persist.