U.S. Stocks Fall Sharply as Consumer Sentiment Sours in March

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 28 March 2025

⏱️ 14 minutes

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Summary

P.M. Edition for Mar. 28. Stocks sold off after hotter-than-expected inflation data, President Trump's tariff announcements and souring consumer sentiment. But does consumer sentiment actually mean a change in consumer behavior? Economics reporter Justin Lahart joins us to discuss. Plus, cloud computing startup CoreWeave made its highly anticipated IPO today turned into a high-profile stumble. Corrie Driebusch, who covers finance for the Journal, tells us what this means for artificial-intelligence companies, and for IPOs more broadly. And President Trump has embarked on a sweeping deregulatory drive. Reporter Scott Patterson explains what sectors are feeling the effects, and what investors make of it. Alex Ossola hosts. Bad Bets podcast Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	So, you want to be a marketer. It's easy. You just have to score a ton of leads and figure out a way to turn them all into customers. Plus manage a dozen channels, write a million blogs and launch 100 campaigns all at once. When that's done, simply make your socials go viral and bring in record profits. No sweat. Okay, fine. It's a lot of sweat. But with HubSpot's AI-powered marketing tools,
0:23.2	launching benchmark-breaking campaigns is easier than ever. Get started at HubSpot.com slash marketers.
0:33.3	U.S. stocks sell off after consumer sentiment sours in March.
0:38.2	But will consumer behavior change?
0:40.5	Plus, Corweave's stock market debut turns into a high-profile stumble for both the AI industry
0:46.4	and new public listings.
0:48.8	And President Trump is following through on his pledge of sweeping deregulation.
0:53.4	Deregulation takes a while to work its way into the system.
0:58.0	So you're not going to really see a benefit to companies from deregulation for a while,
1:03.5	whereas tariffs, inflation, interest rates, it's immediate.
1:07.5	It's right now, and that's what investors are reacted to.
1:09.7	It's Friday, March 28th.
1:11.6	I'm Alex O'Sullough for the Wall Street Journal.
1:13.9	This is the PM edition of What's News,
1:16.2	the top headlines and business stories that move the world today.
1:25.2	U.S. stocks sold off today after reports of lower consumer sentiment, hotter than expected inflation, and anticipation of Trump's announcement of further tariffs next week.
1:38.4	Major U.S. indexes ended the day lower. The Dow fell more than 700 points, or about 1.7%. The S&P 500 dropped about 2%,
1:48.3	down for the week for the fifth time in the last six weeks. The NASDAQ tumbled 2.7%.
1:54.0	New data from the Commerce Department show that U.S. personal income and consumption both rose in February.
2:03.6	The personal consumption expenditures price index, which the Fed uses to track inflation, rose 0.3% over the previous month and has climbed by 2.5% over the past 12 months, still above the Fed's 2% target.
2:17.4	The core version of PCE inflation, excluding food and fuel, is up 2.8% over the past 12 months.
2:24.1	That's an increase from January.
	...

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