Key Points
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Stocks came out of the game lower across the board.
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Intel is extending its gains as a rare gainer.
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Alcohol product stocks are mixed on President Trump’s hefty tariff threat for the EU.
Live Updates
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Correction Turf, After-Hour Movers
Things didn’t get any better today. In fact, they got worse after the S&P 500 entered correction territory upon falling 10% from its most recent all-time high. For the day, the broader market index fell 1.39%, while the Nasdaq Composite lost nearly 2% and the Dow Jones Industrial Average was down 1.3%.
Some of the stocks moving higher in after-hours market trading include:
Ulta Beauty (Nasdaq: ULTA) is rising 5.5% on better-than-expected Q4 results driven by robust demand for cosmetics and perfumes.
Docusign (Nasdaq: DOCU) is up 8.3% after its better-than-expected Q4 print, including revenue that topped estimates.
PagerDuty (NYSE: PD) is up 4.4%. Despite posting a loss-per-share, the company’s Q4 revenue surpassed consensus estimates.
We’ll see if the positive earnings momentum spills over into Friday’s trading session or if the markets will stay headline-driven.
Deeper Losses but Precious Metal Stocks Rise
Market selling has intensified, and you’d be hard pressed to find any sector gainers. Every sector from energy to utilities to technology to consumer discretionary is trading in the red.
A one-two punch of President Trump’s tariff threats and concerning wholesale inflation data has sent the markets reeling, with all three of the major stock market indices deepening their losses since this morning. Intel (Nasdaq: INTC) remains a rare gainer in the tech industry, rising about 16%.
Mining stocks Newmont (NYSE: NEM) and Freeport-McMoRan (NYSE: FCX) are the exception, gaining 5% and 4%, respectively, on the day on precious metal safe-haven demand.
Here’s an update on where the indexes are trading:
Dow Jones Industrial Average: Down 462.04 (-1.12%)
Nasdaq Composite: Down 282.91 (-1.5%)
S&P 500: Down 64.48 (-1.1%)
Sour Market Mood
The markets remain under pressure as of mid-morning, with all three of the major stock market indices trading fractionally lower, though they are off their worst levels of the morning. President Trump’s latest tariff push coupled with disappointing wholesale inflation data for February have turned the market mood sour.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 48.08 (-0.12)
Nasdaq Composite: Down 160.61 (-0.88%)
S&P 500: Down 15.68 (-0.28%)
Another day, another market sell-off. The markets are fearful amid President Trump’s threat of yet more tariffs and the possibility of an economic recession looming. Renewed inflation fears after wholesale inflation prices stayed flat in February aren’t helping. Out of the gate, all three of the major stock market indices are trading in the red, including the Nasdaq Composite, S&P 500 and Dow Jones Industrial Average. While the declines are fractional in nature, the selling pressure is hitting most sectors of the economy, including technology.
Intel (Nasdaq: INTC) is extending its gains from yesterday with a 16.7% pop today after naming well known semiconductor executive Lip-Bu Tan as its new CEO, giving the company a chance at a fresh start. Intel is the exception in today’s market, as most of Big Tech is under pressure today. Through a wider lens, it’s a mixed bag. Nvidia (Nasdaq: NVDA) is gaining 5.3% over the past week, while Apple (Nasdaq: AAPL) has lost 8.3% in the past five days.
This time, President Trump is taking aim at alcoholic products, suggesting tariffs of up to 200% on EU alcohol product imports in response to their tariffs on whiskey. President Trump took the opportunity to tout the U.S. wine and champagne business. In response, Constellation Brands (NYSE: STZ), Molson Coors (NYSE: TAP) are up slightly while France’s Pernod Ricard is down by 3.3%.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 75.91 (-0.17%)
Nasdaq Composite: Down 97.79 (-0.60%)
S&P 500: Down 14.51 (-0.27%)
Market Movers
Discount retailer Dollar Tree (Nasdaq: DLTR) is a stock that would benefit in a slowing economy and is rising by 6.7% today. Taking its cue, Dollar General (NYSE: DG) is up 5.7%. CNBC’s Jim Cramer reportedly mentioned he’s not a buyer of DLTR.
Gold mining stock Newmont Mining (NYSE: NEM) is up 3.2% on the day and has reportedly been outpacing its industry peers in gold production. Gold price forecasts are bullish, including predictions for the precious metal to rise above $3,100 as investors flock to the safe-haven asset in the face of tariffs.
Palantir (NASDAQ: PLTR) is taking it on the chin, down 4.4%.
Profit taking in a volatile Tesla (Nasdaq: TSLA) stock is erasing some of its recent gains with a 4.2% drop today ,weighing on the S&P 500 and Nasdaq Composite.
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