Stocks See Wild Swings in Run-Up to Tariff Rollout: Markets Wrap
- Trump to unveil country-based tariffs April 2 in Rose Garden
- Goldman’s Kostin slashes S&P 500 target again on growth risk
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A renewed wave of volatility gripped global markets just days ahead of President Donald Trump’s tariff rollout, with stocks erasing losses in the final stretch of a jittery quarter. As equities bounced, bonds moved away from session highs. Gold climbed to a record.
From New York to London and Tokyo, stocks were hit by intense swings. While the S&P 500 wiped out a 1.7% slide, US shares saw their worst quarter compared to the rest of the world since 2009. Defensive groups outperformed. Energy producers joined a rally in oil as Trump suggested the US may work to curtail crude shipments from Russia. A gauge of the “Magnificent Seven” megacaps extended a quarterly rout to 16% amid lingering concerns of an artificial-intelligence bubble.