Economic Jitters: Wall Street's Rollercoaster amid Tariff Tensions

Wall Street indexes plummeted on Friday due to concerns over tariffs exacerbating inflation. The Personal Consumption Expenditures Price index increased more than anticipated, signaling persistent price pressures. Market turmoil was aggravated by further declines in consumer sentiment and reports of potential interest rate cuts.

Wall Street experienced a steep decline as major indexes tumbled on Friday, driven by mounting fears over tariffs and inflation. Market anxiety intensified after the latest data indicated rising price pressures while consumer sentiment continued to weaken.

The Commerce Department reported an increase in the Personal Consumption Expenditures Price index, and despite expectations, the core index excluding food and energy spiked more significantly than anticipated. Economic uncertainty is further compounded by President Trump's tariff policies, which investors fear could hamper growth.

The Federal Reserve's response remains crucial, with the possibility of a rate cut, as traders anticipate adjustments in borrowing costs. Meanwhile, sectors like auto and sportswear have been particularly hard hit, while gold miners see gains as investors seek safer assets.

(With inputs from agencies.)