The decline in March caps off the S&P 500’s worst quarter at the start of a president’s term since President Barack Obama took over in 2009 during the #financial crisis.

The benchmark is now down 8.7% from its mid-February peak, a downturn that is near a 10% “correction,” denting the values of portfolios & retirement funds across both Wall Street & Main Street. The tech-heavy Nasdaq, which has already slipped into a correction, ended the month down 8.2%

@Nonilex Just sold my house, sitting on cash so I want a #trumpcession to drive home prices into the gound.

#Oil has yo-yoed both on supply-&-demand issues but also the #MiddleEast ceasefires between #Israel & #Hamas & #Hezbollah that already look under threat.

Q2 doesn't look like it is going to get any easier on the whole.

#Trump will be detailing his grand #global #tariff plan he has dubbed ‘liberation day' on Wednesday. For investors, the big question is whether it will end up triggering #recessions.

#Bitcoin has been volatile as usual. It raced up almost 20% when #Trump took office, only to dive nearly 30% when his plans for a #US #cryptocurrency reserve failed to impress.

And if you think that's bad just look at #Musk’s #Tesla share price versus its main rival #BYD since inauguration day. Ouch.

At the bottom of the FX pile are #Turkey's #lira & the #Indonesian #rupiah. The former is down nearly 7%, much of it after #Erdogan's main political rival was detained last week.

The rupiah, meanwhile, has hit its lowest since the 1998 Asian financial crisis amid worries about #Jakarta's finances & that it is sliding back towards #military domination.

"The #dollar view has unravelled very quickly this year," said State Street Global Markets' Michael Metcalfe. "I think there has been an element of take what was said at the start of the year & just flip it."

Just as jarring, the 'Magnificent Seven' #US #tech giants have been hit for 6. They have been a cash cow for portfolios for years but have shed nearly $2T & been left for dust by #Chinese rivals & #Europe's defense firms.

@wdlindsy

“Trump’s actions seem designed to drive the U.S. economy into the ground. This would truly be a Trumpcession.”

Turns out the orange fascist moron isn't the great economic guru he pretended to be, what a fucking surprise.

@wdlindsy #trumpcession

@wdlindsy
#trumpcession

#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/

#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