Wall Street stocks posted their worst quarter in almost three years on fears that Donald Trump’s tariffs will usher in a period of stagflation in the world’s biggest economy.
The S&P 500 dropped 4.6 per cent in the first three months of 2025, the worst performance since the third quarter of 2022, according to FactSet data.
The sharp pullback in the first quarter comes as Wall Street banks and investors fret that Trump’s levies on trading partners will slow economic growth while also increasing prices. Sentiment among consumers and businesses has also cooled sharply, several recent surveys have shown.
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