The U.S. stock market took a major hit on March 28, with the S&P 500 dropping 1.97%. Since this index represents about 80% of the market, the decline resulted in a staggering $1.2 trillion loss in total market value.
The fall was driven by several factors, including concerns over new tariffs, rising inflation, and weakening consumer confidence. Investors reacted by pulling money out of stocks, leading to sharp declines, especially in the tech sector.
As uncertainty grew, many investors moved their money into gold, which saw a strong rise as a safe-haven asset.
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