Bonds & Stocks
Risk appetites vanished on Wall Street after the biggest burst of buying in years, with stocks falling even after subdued inflation data extended a bounce in Treasuries. The S&P 500 retraced about a quarter of Wednesday’s surge as investors braced for a potentially protracted period of global trade hostility.
Economy
US inflation cooled broadly in March, indicating some relief for consumers prior to widespread tariffs that risk contributing to price pressures. The consumer price index, excluding often volatile food and energy costs, increased 0.1% from February, the least in nine months, according to Bureau of Labor Statistics data out Thursday. The overall CPI declined 0.1% from a month earlier, the first decrease in nearly five years.
World
America’s trading partners around the globe reacted with a mixture of relief and bewilderment to President Donald Trump’s eleventh-hour decision to pause some of his most aggressive tariffs.