Major U.S. stock indices were all trading down on Friday, in what is seen a sign of market worries over inflation and volatile trade prospects under the Trump administration.
As of 1:45pm Eastern time, the Dow had fallen 1.69 percent, the S&P 500 had tumbled 1.97 percent, and the Nasdaq had plunged 2.72 percent.
The numbers put the market closer to some of its largest ever one-day drops, like the 975-point Dow plunge that came in April 2020 at the outset of the Covid pandemic.
The market slide came the same day that the Commerce Department released data showing higher-than-predicted inflation in February, which was up 2.8 percent from one year ago.
Traders are also likely pricing in the coming changes from Donald Trump’s planned 25 percent tariff on imported autos, which are set to take effect on April 3.
In 2024, the U.S. imported $214 billion worth of passenger cars, roughly half of all cars sold in the country.
This is a breaking news story and will be updated with new information.
