Source: Financial Times [UK]
“US stocks fell the most in two months as a bout of gloomy economic data showed sentiment among consumers and businesses has cooled a month into Donald Trump’s presidency. The S&P 500 fell 1.7 per cent on Friday, the worst slide for Wall Street’s blue-chip index since December 18, when the Federal Reserve cut interest rates but signalled a slower pace of monetary policy easing in 2025. The tech-focused Nasdaq Composite was down 2.2 per cent in its steepest fall since January 27, when Big Tech stocks were hit as worries over advancements by Chinese artificial intelligence start-up DeepSeek rattled the sector. The sharp decline came as a series of reports signalled that the world’s biggest economy was facing growing challenges from elevated borrowing costs and inflation. Trump’s tariffs have also begun to dent sentiment among consumers and businesses.” (02/21/25)