Inflation Fears Spark Risk-Off Sentiment As Magnificent 7 Drop: What’s Driving Markets Friday?
Markets faltered on Friday, with Wall Street reeling as investors hurried to shed risk in the face of mounting inflation and tariff uncertainties.
The S&P 500 fell 2.1% by 1:30 p.m. trading in New York, on track to end the week with losses. The tech-heavy Nasdaq 100 tumbled 2.6%, and the Dow fell 1.7%.
All members of the Magnificent Seven group were in the red, with Amazon.com Inc. (NASDAQ:AMZN) and Alphabet Inc. (NASDAQ:GOOGL) marking the widest drops, both down 4.4%.
Earlier on Friday, the Fed’s favorite inflation gauge – the core Personal Consumption Expenditure price index – rose 2.8% on a yearly basis in February, surprising estimates of 2.7%.
Investor anxiety deepened following the latest University of Michigan Survey of Consumers, which showed 5-year forward …
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