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Stocks struggle over tariff concerns

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Gold scores fresh record high, oil slips

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Bond markets increasingly pricing in recession risks

(Updates headline and first paragraph and prices throughout

with U.S. markets)

By Chibuike Oguh and Marc Jones

NEW YORK/LONDON, March 28 (Reuters) - An index of global

shares traded lower while safe-haven gold hit a fresh record

high on Friday, weighed down by worries over a looming trade war

sparked by tariff decisions from U.S. President Donald Trump.

U.S. traders had new sticky inflation data to grumble about

but it was Trump's 25% tariffs on auto imports and plans

for much broader levies next week that continued to cause the

nail-biting.

On Wall Street, all three main indexes were losing ground

and were on track for their third straight session of losses.

The biggest losers were communication services, consumer

discretionary, technology and financial equities. Utilities

stocks were trading higher.

Europe's STOXX 600 index finished down 0.77% and

ended the week down 1.39%, helped by a nearly 1% drop by the car

and auto parts sector

MSCI's gauge of stocks across the globe

fell 13.31 points, or 1.58%, to 829.91. It is on track to end

the week down 1.45%.

State Street's head of global macro strategy Michael

Metcalfe said that U.S. car tariffs had been more aggressive

than expected, especially as there had been no adjustments made

for Washington's neighbours like Mexico and Canada.

"What I don't know is whether the hawkishness of the auto

tariffs is going to translate to the broader tariffs that we are

going to get next week," Metcalfe said. "And that is keeping

risk appetite on the back foot."

Gold prices meanwhile set yet another new peak of

$3,086.70 as the threat of trade wars drives a rush towards the

safe-haven metal. It was last up 0.94% to $3,084.90 an ounce

For the quarter it is now up more than 17%, which is its

best quarterly performance since 1986.