Markets experienced a brief rise after President Trump suggested a potential reduction in reciprocal tariffs, but uncertainty remains regarding new tariffs set to be announced soon.

Goldman Sachs has warned that the new tariffs could exceed the initially expected 9 percent, complicating the economic landscape with potential value-added taxes and currency undervaluations.

Despite some positive economic indicators, economists caution that recently imposed tariffs on auto imports and upcoming levies could negatively impact the economy and drive prices higher.

The S&P 500 index dropped by as much as 1.5% in early trading on March 28, 2025, and is on track to post its worst quarterly performance since 2023.

Business conditions have worsened, with many CEOs expressing concerns over profits, hiring, and growth amid ongoing economic uncertainty.

The current financial climate is characterized by stock market instability, high inflation, and significant job losses, including mass layoffs at major companies like Meta and Amazon.

The Economic Policy Uncertainty Index has surged, reflecting increased media coverage of economic uncertainty and disagreement among forecasters.

Confidence indicators have declined across all sectors, including construction, public works, services, and commerce, reflecting widespread economic unease.

While there has been a slight improvement in assessments of current financial situations, expectations for future finances have dropped to their lowest level since July 2022.

U.S. consumer confidence has fallen for the fourth consecutive month, reaching a 12-year low, driven by rising concerns over tariffs and inflation.

Core inflation in February 2025 rose to 2.8%, surpassing economists' expectations of 2.7%, which has contributed to the current economic anxiety.

The survey results indicate that two-thirds of respondents expect unemployment to rise over the next year, marking the most pessimistic outlook since 2009.