NEW YORK, March 31 — As Wall Street dey enter new quarter, President Donald Trump don promise say new tariffs go take effect this week. Dis don put traders on edge, plus e don contribute to US stocks facing dem worst first-quarter slump for years.
The S&P 500 index don drop almost 6% this year, making am dem worst start since 2020. Stocks for US market dey lower on Monday, with the Dow down by 50 points, or 0.1%, after struggling from a lower opening of about 300 points. The S&P 500 dey down by 0.8%, while the Nasdaq Composite fall 1.8%. Dis drop make S&P 500 enter correction territory again, as e dey down 10% from im record high for February, hitting im lowest level since September.
Globally, stocks sef dey lower as market dey prepare for Trump’s new tariffs wey go take effect on Wednesday. Economists dey fear say dis tariffs fit cause inflation and slow down economic growth. Analysts from Goldman Sachs on Sunday don revise their S&P 500 year-end target from 6,200 to 5,900, joining Barclays wey also reduce their target to 5,900 from 6,600. Dis bearish view dey rise as Wall Street dey face more worries about Trump’s tariffs and wetin e fit mean for the economy.
“We dey see a 35% chance say recession go occur within the next 12 months,” Goldman Sachs talk for im report. For March, consumer confidence don drop to historical low as fears about rising prices and the economy dey increase. This show say households dey fear to spend, which fit contribute to economic slowdown.
Trump don make am clear say im dey focus on fair trade, but details on di tariffs still dey unclear. Investors dey vex about di dynamic of super rapids tariffs, negotiations, and delays especially with countries like Mexico, Canada, and China. Morgan Stanley analysts talk say, “the uncertainty level dey high, and nobody sabi wetin to expect.” Dis point confirm concerns say many businesses dey try prepare for impact, and some automakers dey express worries about the effects of di tariffs.
Market reactions dey vary, with gold prices dey surge as investors dey run to safety. Gold futures don pass $3,150 a troy ounce, as gold na considered safe haven amid all di economic uncertainty. But for tech sector, Nasdaq dey down 12% this year, dey face im worst quarter since June 2022.
As we dey close approach di April 2 deadline, fears don increase over di impact of tariffs on consumers. “Na who go pay di price? Families and consumers go feel di effect straight up,” said Thomas Martin from Globalt Investments. “De comments don dey mixed with high uncertainties, and anytime we hear from Trump, we still go dey scratching our heads.” Investors dey expect more details from di announcement on April 2 to clear some of di fog wey dey hang around financial markets.
Stock market around di world don dey face similar pressure as sanctions dey affect automakers, plus rising prices dey push consumer confidence to di lowest levels in four years. Dis turbulent environment don make it difficult for businesses and consumers to plan for di future.
Finally, analysts dey watch di developments carefully, ready to react. “Current market state na make or break, e go depend on how dis tariff discussions play out,” Na wetin George Hollis from Heritage Asset Management talk, “Investors dey hope say any news from di administration go shift di focus back to growth, instead of constant tariff debates.” Dat go give investors some room to breathe better.
