March 10 - The benchmark S&P 500 index on Wall Street plummeted by more than 3% during the last week, which proved to be its most severe downturn since September 2024. The markets were affected unfavorably by both uncertain trade policies and conflicting economic indicators. American traders experienced confusion due to erratic Canadian and Mexican tariff policies adopted by U.S. President Donald Trump after his victory in November 2016.
It was also influenced by the economic indicators. Yet prior to imposition of tariff the trade deficits soar to record levels with January imports surging. Another factor is that the February nonfarm payrolls report wasn't sterling because the federal part (as a result of Trump and Elon Musk's efficiency measures) mostly affected the numbers.
In the volatility, Federal Reserve Chair Jerome Powell noted that 'The U.S. economy is in a good place.' Overall, Last week, the S&P 500 slipped 3.3%, the Nasdaq Composite lost 3.8%, and the Dow plunged 2.5%, underscoring ongoing market headwinds.
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