Stock Market Rollercoaster: Trump's Tariffs Trigger Record Gold Prices!

2025-03-17 00:00:36.473

US stocks experienced a volatile week, with Friday's surge failing to offset earlier losses. President Trump's trade war created market jitters, leading to the S&P 500 and Nasdaq's fourth consecutive week in the red—their worst losing streak in seven months. The Dow ended the week down roughly 3.1%, its worst week since March 2023. Despite Friday's rally, the S&P 500 closed in correction territory, down over 10% from its recent high. The market rebound followed Thursday's steep decline and was partly fueled by the likely passage of a government funding plan, avoiding a shutdown. Experts attribute the market's struggles to uncertainty surrounding tariffs, fiscal spending cuts, and potentially softening economic data. Consumer sentiment also fell 11%, reaching its lowest level since November 2022. Tech stocks like Nvidia and Palantir, and Tesla, rebounded on Friday. Gold soared to a record high, exceeding $3,000 a troy ounce, as investors sought safe havens amid economic uncertainty. This surge reflects concerns about America's economic outlook and geopolitical instability, including Russia's war in Ukraine. Gold's price increase is also driven by investor demand and central banks increasing their gold reserves. Gold's performance far outpaces the S&P 500's decline.