🔻 WALL STREET WRECKED: DOW TANKS 700+ POINTS
S&P -1.97% | Nasdaq -2.70% | Dow -1.69% | Inflation Hot, Sentiment Ice Cold
💥 TRIPLE WHAMMY FRIDAY
Markets got rocked. Tech got torched. And inflation just won’t die.
📉 The Dow cratered 710 points
📉 The S&P 500 nearly down 2%
📉 The Nasdaq plunged 2.7%, led by a tech bloodbath
📉 $BTC -4%, $LULU -15%, Gold soared above $3,100
This wasn’t just a bad day. It was a risk-off exodus—triggered by fresh tariffs, hot inflation, and collapsing consumer sentiment.
🔥 WHAT BLEW UP?
📊 PCE Inflation — 🔥 Hotter than forecast
Core PCE +0.4% MoM (vs 0.3% est.)
Core YoY stuck at 2.8% (Fed target: 2%)
⛔ Translation: The Fed can’t cut. Markets hate it.
😰 Consumer Sentiment — 💔 Cratered to 57 (lowest since Nov 2022)
📉 2 out of 3 consumers expect unemployment to rise. Oof.
💣 Tariff Overhang — Trump confirmed he’ll "absolutely" move ahead with tariffs on Canada despite a “good talk” with PM Carney.
April 2 = tariff D-Day.
🧠 MARKET MOVERS
📉 Big Tech Sell-Off:
$AMZN -4%
$TSLA -3%
$META -3%
$GOOGL, $MSFT, $NVDA all in the red
Even the Magnificent Seven look more like the Missing in Action Seven.
💸 $LULU -15%
CFO warns of weak traffic, slow spending, and tariff pressure. The athleisure giant just got smoked.
💥 $GME -25%
GameStop wants to raise $1.3B to buy bitcoin. Market said: hard pass.
🏆 Gold shines again → New all-time high: $3,115/oz
Investors want safety. They're running to the yellow metal.
📉 CHART CHECK:
📉 S&P 500 now deep in correction territory
🧾 Atlanta Fed GDPNow model slashed Q1 GDP to -2.8%
💵 Dollar wobbled as traders brace for April tariff chaos
📆 WHAT’S NEXT?
April 2 isn’t just another Tuesday. It’s a market landmine.
🚨 Reciprocal tariffs go live.
🚨 Auto duties bite.
🚨 Fed officials increasingly in the dark. One even called it “zero visibility in a dense fog.”
🎯 T&G TAKE:
This is no longer just about inflation. It’s about credibility.
The Fed can’t ease. Tariffs are sticky. And consumers are scared.
That’s a cocktail for volatility—and we’re not even in earnings season yet.