Japan's Index Falls In Correction Territory, Europe Declines On Trade Fears; Gold Surges To New Record - Global Markets Today While US Slept

On Friday, March 28th, U.S. markets closed sharply lower as fears of slowing economic growth, rising inflation, and escalating tariffs under the Trump administration weighed on markets. Major tech stocks like Amazon, Microsoft, and Apple tumbled.

Consumer spending disappointed, inflation expectations surged, and investors grew cautious ahead of new tariffs. Markets anticipate possible interest rate cuts by the Federal Reserve.

In economic data, the Fed’s preferred inflation gauge — the core PCE price index — rose 2.8% year-over-year in February, above the 2.7% forecast. Investor concerns grew as the University of Michigan survey showed 5-year inflation expectations rising to 4.1%, the highest since February 1993.

Most S&P 500 sectors ended lower, led by losses in consumer discretionary, communication services, and tech stocks. Utilities were the exception, closing higher and defying the broader market downturn.

The Dow Jones Industrial Average was down 1.69% at 41,583.90, the S&P 500 slid 1.97% to 5,580.94, and the Nasdaq Composite fell 2.70% to 17,322.99.

Asia Markets Today

• On Monday, Japan’s Nikkei 225 closed the session drastically lower by 4.03% at 35,624.50, led by losses in the Shipbuilding, Manufacturing, and Services sectors.
• Japan’s Nikkei 225 plunged 4.05%, entering correction territory with a nearly 12% drop from its December peak, driven by fears over U.S. tariffs.
• Australia’s S&P/ASX 200 was down 1.74% and closed at 7,843.40, led by losses in the Metals & Mining, Resources and Materials sectors.
• India markets closed for the Ramzan (Id-Ul-Fitar) holiday.
• China’s Shanghai Composite declined 0.46% to 3,335.75, and the Shanghai Shenzhen CSI 300 slid 0.71% to 3,887.31.
• Hong Kong’s Hang Seng was down 1.31%, ending the session at 23,119.58.

Eurozone at 05:45 AM ET

• The European STOXX 50 was down 1.37%.
• Germany’s DAX declined 1.27%.
• France’s CAC slid 1.37%.
• U.K.’s FTSE 100 index traded lower by 0.98%.
• European stocks fell sharply as investors braced for U.S. tariffs, which are set to take effect Wednesday. Fears of broader trade measures raised recession risks and pressured global markets and oil prices.

Commodities at 05:45 AM ET

• Crude Oil WTI was trading higher by 0.23% at $69.52/bbl, and Brent was up 0.23% at $72.93/bbl.
• Oil prices rose after Trump threatened 25–50% tariffs on Russian oil buyers, but gains were limited as traders doubted the seriousness of the move. Analysts cited market fatigue over U.S. sanctions talk.
• Natural Gas rose 03.12% to $4.192.
• Gold was trading higher by 1.02% at $3,146.11, Silver was up 0.15% to $34.868, and Copper slid 1.80% to $5.0375.
• Gold surged to a record high on Monday, marking its third straight session of gains, as investors sought safety amid rising tariff uncertainty and inflation fears.

U.S. Futures at 05:45 AM ET

Dow futures were down 0.59%, S&P 500 futures declined 0.87% and Nasdaq 100 futures fell 1.25%.

Forex at 05:45 AM ET

• The U.S. Dollar Index fell 0.22% to 104.03, USD/JPY was down 0.44% to 149.17, and USD/AUD gained 0.57% to 1.5990.
• The U.S. dollar held steady Monday but is set for a quarterly loss of over 4% amid fears that Trump’s tariff plans will stoke inflation and hurt growth.

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