Table of Contents

• U.S. Inflation

• U.S. Stocks

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U.S. Inflation

U.S. consumer inflation cooled more than anticipated in March, with annual price growth slowing to 2.4%, the lowest in several months, driven largely by falling energy costs. Core inflation, which excludes food and energy, also eased to its lowest rate since early 2021. Despite this, food and housing prices remained somewhat elevated, while auto-related costs and airline fares declined. The data arrives just as President Trump postponed key tariff increases, maintaining a 10% base rate while opening a 90-day negotiation period with trade partners. Economists remain cautious, as looming tariffs could still push prices higher in the coming months.

U.S. Stocks

U.S. stocks declined Thursday as investors grew cautious following the previous day’s massive rebound sparked by President Trump’s limited tariff pause. Although duties on most countries were temporarily reduced, concerns mounted over the steep 145% levy still targeting China. The S&P 500 dropped 3.46%, the Nasdaq lost over 4%, and the Dow slid 2.5%, erasing part of Wednesday’s rally. Major tech names, including Apple, Tesla, and Nvidia, saw significant pullbacks. Uncertainty around future tariff changes and the economic toll of heightened trade tensions contributed to the market’s slide, with analysts warning that volatility could persist despite temporary relief.

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