Stock Market

Dow, S&P 500, Nasdaq tank as inflation fears spark tech sell-off


Gold futures (GC=F) rose to a fresh record on Friday as tariff threats sparked fears of an escalating trade war, while the stock market plummeted.

Sticky inflation along with plummeting consumer sentiment prompted investors to continue buying up the safe haven asset. A weaker US dollar (DX-Y.NYB) has also supported higher gold prices.

Gold futures surpassed $3,115 ahead of the Trump administration’s reciprocal tariffs announcement on April 2. On Wednesday the President announced 25% levies on foreign-made autos .

The yellow metal is up more than 17% over the past quarter, on pace for its best year-to-date performance in nearly four decades.

Silver and copper also rose on Friday while the stock market fell to session lows,

The Dow Jones Industrial Average (^DJI) dropped more than 500 points, or 1.2%. The benchmark S&P 500 (^GSPC) declined 1.5%. The tech-heavy Nasdaq Composite (^IXIC) decreased 2%.



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