Dow Plunges 700 Points; Gold Hits Record High

Stock Market News

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Key Takeaways

Dow Jones plummeted 700 points amid tariff and inflation fears on March 28, 2025.
Gold prices surged to a record high on March 28 and 29, 2025; further gains predicted.
Goldman Sachs warns Trump's auto tariffs could hike car prices by up to $15,000.
US consumer sentiment hits lowest since November 2022 due to economic and inflation concerns.
Deutsche Bank cuts Tesla's price target to $345, citing lower delivery expectations.

Market Snapshot

Dow plunges 700 points amid tariff, inflation fears.

On March 28, 2025, the Dow Jones Industrial Average plummeted 700 points. The S&P 500 and Nasdaq also declined due to growing concerns about potential tariffs and persistent inflation.

Gold prices hit record high; further gains predicted.

On March 28 and 29, 2025, reports indicated that gold prices have surged to a new record high. Analysts are forecasting continued increases in the price of gold.

Tariff Impact

Goldman: Trump's auto tariffs could hike car prices $15,000.

On March 28 and 29, 2025, Goldman Sachs reiterated its warning that potential 25% auto tariffs under a Trump administration could lead to car prices surging by up to $15,000.

Cramer highlights potential new Trump tariffs.

On March 28, 2025, Jim Cramer discussed the potential imposition of another round of tariffs by the Trump administration.

Trump's new tariffs may disrupt US ports.

Reports on March 28 and 29, 2025, suggest that new tariffs potentially imposed by Trump, scheduled for next week, could trigger significant disruptions at US ports.

Consumer Watch

US consumer sentiment hits lowest since November 2022.

Reports from March 28 and 29, 2025, indicate that consumer sentiment in the US has fallen to its lowest level since November 2022. This decline is driven by concerns about the economy and inflation.

Analyst Insights

Deutsche Bank cuts Tesla's price target to $345.

On March 28, 2025, Deutsche Bank reduced Tesla's price target from $420 to $345. Analyst Edison Yu anticipates first-quarter deliveries between 340,000 and 350,000, below the consensus of 378,000, representing an 11% year-over-year loss and a 30% quarter-over-quarter decline.

Economy Today

Stocks decline on stalled inflation progress.

On March 28 and 29, 2025, stock prices declined. This followed the Federal Reserve's preferred inflation gauge indicating stalled progress in controlling inflation.

Cramer: Key inflation report due Friday.

On March 28, 2025, Jim Cramer noted that the Labor Department's nonfarm payrolls report, a key inflation metric for the Federal Reserve, will be released on Friday. Bullish investors are hoping for slow job growth and no wage growth due to inflationary tariffs.

Company Spotlight

Charlie Javice guilty of fraud.

On March 28, 2025, Charlie Javice, the founder of a startup acquired by JPMorgan, was found guilty of fraud.

CoreWeave stock slides after IPO; AI trade challenged.

On March 29, 2025, CoreWeave stock experienced a decline following its IPO. This marks an initial challenge for the AI trade.

Cramer: PVH, RH, Conagra earnings expected soon.

On March 28, 2025, Jim Cramer mentioned that PVH, RH, and Conagra are expected to release their earnings reports soon.

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