The U.S. stock market was slumping Friday, with the S&P 500 on track for its worst quarterly performance since 2022 amid investor fears that tariffs will hurt growth and increase inflation.
The S&P 500 has dropped 6.1% so far this month, putting it on track for a first-quarter loss of 4.9%, according to FactSet data, at last check. That would mark the S&P 500’s worst quarterly performance since the third quarter of 2022, FactSet data show.
The stock market has been rocked this month by trade-war fears.
Earlier this week President Donald Trump announced 25% tariffs on cars not made in the U.S. and some automotive parts, saying the U.S. would begin collecting those tariffs on April 3. Meanwhile, investors are expecting Trump to announce his plan for reciprocal tariffs on April 2.
Written by: Christine Idzelis @MarketWatch
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