Morning Update | 28.03.2025. 
Wall Street ended lower yesterday, with the S&P 500 inching toward its worst quarter since 2023.
U.S. futures are up ~0.1%, but rising VIX 
signals caution — the rebound may not last.
Automakers like Ford and GM fell sharply on fears of higher costs from tariffs.
Today’s key events: 
12:30 GMT — U.S. PCE inflation (Feb)
14:00 GMT — Final University of Michigan sentiment & inflation expectations
Gold is shining bright — up 0.8% to a record $3,085/oz, boosted by uncertainty and tariffs.
USD is slightly stronger:
EUR/USD slips to 1.078
USD/JPY drops 0.3% after Tokyo inflation surprised to the upside (2.4% vs 2.2%)
Oil & gas are flat, while 
wheat leads agri losers, down 0.6%+.
Crypto market under pressure:
- bitcoin falls 1.5% to $85,500
- Polygon, Sandbox, Gala drop over 7%
Fed speak:
Thomas Barkin says the Fed should wait for clarity before acting on rates. Susan Collins highlights growing uncertainty and inflation risks — tariffs may raise prices short-term.
Canada says it will respond to U.S. tariffs.
The UK also reacted, but remains open to talks with the Trump administration.
