The Globe and Mail reports in its Saturday edition that U.S. and Canadian stocks ended sharply lower Friday after U.S. data stoked fears of weak economic growth and high inflation as the Trump administration ratchets up tariffs. A Reuters dispatch to The Globe says U.S. consumer spending rebounded less than expected in February while a measure of underlying prices increased the most in 13 months. Adding to concerns, a University of Michigan survey showed consumers' 12-month inflation expectations soared to the highest in nearly 2-1/2 years in March, and they expect inflation to remain elevated beyond the next year. The data fuelled fears that a rush of tariff taxes from President Donald Trump since taking office in January will boost prices of imported goods, drive inflation and deter the Federal Reserve from cutting interest rates. Inflation and tariff worries sent shares of Wall Street's most valuable companies sharply lower, with Apple falling 2.7 per cent, Microsoft losing 3 per cent and Amazon off 4.3 per cent. The inflation impact of tariffs has yet to show up in the data. The S&P/TSX Composite Index ended down 401.91 points, or 1.6 per cent, at 24,759.15, with technology taking the brunt of the losses.