March 28, 2025.

Another wipeout walloped Wall Street Friday, Stan Cho of the Associated Press wrote today.

The S&P 500 had one of its worst days in two years, dropping 2%.

The Dow Jones Industrial average fell 715 points, losing 1.7% of its value.

The NASDAQ composite fell 2.7%.

On Tuesday, news dropped that the administration's blanket firings and wildly shifting tariff policies

have dropped consumer confidence to a low it has not hit since January 2021.

Today's stock market tumble started after the Commerce Department released data showing

that consumer prices are rising faster than economists expected.

AIG chief international economist James Knightley said,

we are moving in the wrong direction, and the concern is that tariffs threaten higher prices,

which means the inflation prints are going to remain hot.

Business leaders like lower interest rates, which reduce

borrowing costs and make it cheaper to finance business initiatives, but with rising inflation,

the Federal Reserve will be less likely to cut interest rates. MacKina Kelly of Wired reported

today that billionaire Elon Musk's Department of Government

Efficiency or Doggy is planning to move the computer system of the Social Security Administration

or SSA off the old programming language it uses, cobal, to a new system.

In 2017, the SSA estimated that such a migration would take about five years.

Doggy is planning for the migration to take just a few months,

using artificial intelligence to complete the change.

Experts have expressed concern.

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