For the week ending March 28, 2025.

Markets moved lower last week, with U.S. equities, international stocks, and high-yield bonds declining due to inflation concerns, trade tensions, and a weaker GDP outlook. Defensive areas like consumer staples and gold outperformed, while tech lagged, and Bitcoin and commodities posted modest gains.

Domestic Markets

Equities:
U.S. stocks declined broadly last week, with losses across all size categories. Large-cap growth saw the steepest drop, down 2.49%, driven by a sharp pullback in tech. Large value held up relatively well, slipping just 0.54% as defensive sectors provided support. Mid- and small-cap stocks posted declines ranging from 0.77% to 1.37%. Markets fell sharply on Friday, with the Dow losing over 715 points after a hotter-than-expected core PCE inflation reading heightened recession concerns.

Sectors:
Not every sector struggled last week. Consumer staples led with a 1.90% gain, benefiting from a shift toward defensive positions amid renewed tariff concerns. Energy rose 0.67%, supported by rising oil prices tied to Middle East tensions. REITs (+0.34%), telecommunications (+0.26%), and consumer discretionary (+0.06%) posted modest gains. Technology saw the sharpest decline, down 3.38%, as trade worries weighed on supply chains. Healthcare fell 1.04%, industrials dropped 1.29%, and other sectors followed lower after the Atlanta Fed cut its Q1 2025 GDP forecast to a 2.8% contraction.

Bonds:
Bond markets held steady, with the U.S. Aggregate Bond Index nearly unchanged at -0.01%. Treasuries posted gains as the 10-year yield dipped to 4.25%, its lowest level since January, following a market selloff that pushed investors toward safer assets. High yield bonds dropped 0.57%, weighed down by a shift away from risk and rising inflation expectations—the highest since 1993—which shook consumer confidence.

International Markets

Equities and Bonds:
Overseas markets didn’t fare much better. Europe fell 1.19%, the Pacific region dropped 1.80%, and Latin America took a 1.74% hit—Trump’s tariff talk spooked everyone, with Monday’s global share slide showing just how far the ripples spread. International corporate bonds eked out a 0.25% gain, a rare bright spot in the mess.

Alternative Assets

Gold climbed 2.00% to a new all-time high, supported by its safe-haven appeal amid ongoing trade uncertainty. Broader commodities rose 0.40%, helped by strength in energy markets. The U.S. dollar edged up 0.04%, while Bitcoin advanced 2.64% for the week, with early gains easing later due to trade-related volatility.