Stock Market News

VIX Soars 20%; Trump Tariffs Send Gold Prices Past $3,100

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Key Takeaways

  • VIX jumps nearly 20%, reaching 22.18, the highest since March 18, 2025.
  • Gold surges past $3,100; Trump's tariffs could increase car prices by up to $15,000.
  • Craig Johnson suggests the stock market is on solid trading footing despite tariff/inflation concerns.
  • U.S. stocks underperforming; SPDR S&P 500 ETF Trust (SPY) down over 3% year-to-date.

Market Snapshot

VIX jumps nearly 20%, highest since March 18.

On March 28, 2025, Wall Street's VIX index, which tracks fear and greed, experienced a significant surge, jumping almost 20% to reach a lunchtime high of 22.18. This marked the highest absolute level for the index since March 18 and the largest percentage increase since March 10.

Stock market shows solid trading despite uncertainties.

On March 28, 2025, Piper Sandler's Craig Johnson noted that the stock market appears to be on more solid trading footing after weeks of volatility. He believes technical evidence suggests an intermediate-term low may be in place, despite concerns about tariffs and inflation.

Policy Updates

Trump's tariffs: Gold surges, car prices may jump $15,000.

Reports from March 28, 2025, indicated that gold prices surged past $3,100 and copper prices neared record highs due to Trump's tariffs. Goldman Sachs warned that these tariffs, particularly a 25% levy on automobiles, could increase car prices by up to $15,000. Furthermore, the new tariffs could trigger an 'absolute nightmare' at US ports next week.

Trump 'couldn't care less' about foreign automaker price hikes.

Global View

U.S. stocks lag foreign markets, SPY down over 3%.

As of March 28, 2025, Oppenheimer's trading desk data indicated that U.S. stocks are underperforming compared to most foreign markets. The SPDR S&P 500 ETF Trust (SPY) has decreased by more than 3% year-to-date.

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