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US STOCKS DROP AS ECONOMIC DATA ADDS TO WORRIES

All three major U.S. stock indexes ended down sharply on Friday, led by a more than 2% drop in the Nasdaq .IXIC as U.S. economic data added to concerns about tepid growth and high inflation.

U.S. consumer spending rebounded less than expected in February while a measure of underlying prices increased by the most in 13 months, according to Commerce Department data on Friday.

Stripping out the volatile food and energy components, the Personal Consumption Expenditures price index rose 0.4% in February. That was the biggest gain in the so-called core inflation since January 2024 and followed an unrevised 0.3% advance in January.

Worries about the economic outlook have increased with Trump this week unveiling a 25% levy on imported cars and light trucks starting next week.

"We think there's likely to be weakening consumer spending going forward, which may throw cold water on the rising prices,” said Greg Bassuk, CEO at AXS Investments in New York.

All three major U.S. stock indexes ended lower for the week as well.

Here is the closing market snapshot:

(Caroline Valetkevitch, Stephen Culp)

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FOR FRIDAY'S EARLIER LIVE MARKETS POSTS:

2025 US PROFIT GROWTH SEEN DOWN SLIGHTLY FROM 2024 - CLICK HERE

CYBERSECURITY, IT INFRASTRUCTURE FIRMS LIKELY TO ESCAPE FEDERAL BUDGET CUT IMPACT - CLICK HERE

LOOKING UNDER THE HOOD AT CAR TARIFFS - CLICK HERE

SOME SHOCK ABSORBERS THAT COULD LIMIT TARIFFS' INFLATION IMPACT - AT LEAST, A LITTLE - CLICK HERE

TGIF: HOT INFLATION AND A COOLING U.S. CONSUMER - CLICK HERE

STOCKS DROP MORE THAN 1% EARLY AS INVESTORS DIGEST DATA - CLICK HERE

INDIVIDUAL INVESTOR BEARS HAVE BEEN ON QUITE A RUN - AAII - CLICK HERE

RUSSIA-UKRAINE CEASEFIRE WOULDN'T SHIFT INVESTORS OUT OF DEFENCE STOCKS, MS CLIENTS SAY - CLICK HERE

EUROPEAN OUTPERFORMANCE EVEN EXTENDS TO TARIFF STOCKS - CLICK HERE

U.S. TARIFFS SIMILAR TO BREXIT (SORT OF) SAYS BOFA - CLICK HERE

STOCKS STEADY - CLICK HERE

EUROPE BEFORE THE BELL: LOWER AGAIN - CLICK HERE

MORNING BID: TARIFF CARNAGE RUMBLES ON - CLICK HERE

(Terence Gabriel is a Reuters market analyst. The views expressed are his own)