U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
Germany’s 2026 Growth Outlook Strengthens on Fiscal Spending 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
China Agrees to Buy 20 Million Tons of U.S. Coal 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Fed Unveils Stablecoin Rules Under GENIUS Act 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
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Wall Street closed sharply lower Friday, led by steep declines in tech giants like Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), and Apple (NASDAQ:AAPL), amid growing concerns over high inflation and slowing economic growth. The S&P 500 dropped 1.97% to 5,580.94, while the Nasdaq plummeted 2.70% to 17,322.99, and the Dow fell 1.69% to 41,583.90.
U.S. economic data showed consumer spending rose less than expected in February, while core inflation surged the most in over a year. The University of Michigan’s consumer survey also revealed inflation expectations at their highest in nearly 2.5 years. Fears are mounting that escalating tariffs under President Trump will drive up costs on imports, worsen inflation, and prevent the Federal Reserve from cutting rates. Fed funds futures now price in a 76% chance of a rate cut by June, according to CME FedWatch.
Tech stocks were hit hardest, with Amazon falling 4.3%, Microsoft down 3%, and Apple shedding 2.7%. Ten of the S&P 500’s 11 sectors declined, with communication services and consumer discretionary leading losses. CoreWeave, an Nvidia-backed AI company, slumped in its Nasdaq debut, while Lululemon (NASDAQ:LULU) plunged 14% after lowering its annual outlook due to tariff uncertainties.
Auto stocks continued to slide, with General Motors (NYSE:GM) and Ford posting losses amid looming 25% tariffs on imports. Meanwhile, gold miners Harmony and Gold Fields surged on safe-haven demand.
For the week, the S&P 500 declined 1.5%, the Nasdaq 2.6%, and the Dow 1%. With a fresh round of tariffs expected April 2, investor sentiment remains fragile. The S&P 500 is now down 9% from its February high, with the Nasdaq off 14% from its December peak.
