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Live Nasdaq Composite: FIVE Falls, AZN and PEP Rise From Tariff Ashes
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Key Points
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The stock market is taking, including a 4% decline in the Nasdaq Composite.
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The Dow Jones Industrial Average is in freefall, losing over 1,100 points.
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There are rare gainers today, including AZN and PEP.
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Bear Market Territory for Small Caps
Nearly $2 trillion in value disappeared from the S&P 500 today in response to the tariff fallout. The Nasdaq Composite has widened its loss to a massive 5.7%.
The Russell 2000 index, which reflects trading in small-cap stocks, has officially entered a bear market, according to CNBC. The index has fallen 20% from its record high reached last year. Among the stocks in the Russell 2000 is MicroStrategy (Nasdaq: MSTR), which is down 11.2% today.
Here’s a look at the damage to the stock market indices:
Dow Jones Industrial Average: Down 1,456.07 (-3.45%)
Nasdaq Composite: Down 970.77 (-5.51%)
S&P 500: Down 243.60 (-4.3%)
Apple (Nasdaq: AAPL) is weighing on the Nasdaq Composite and S&P 500, falling 9% to become the worst performer among the Mag 7 stocks today.
Dow stock Honeywell (NYSE: HON) is falling 3.5%. The company has a shareholder meeting planned for May.
Chocolate stock Mondelez (Nasdaq: MDLZ) is gaining 2.7% while Hershey (NYSE: HSY) is up 1%, continuing to look attractive to investors in a slowing economy.
Selling Intensifies
The market sell-off has only intensified as the morning has unfolded, with the three major stock market averages widening their steep losses.
Nike (NYSE: NKE) is seeing declines of 11% while iPhone maker Apple (Nasdaq: AAPL) is now down 9%. Even discount retailers like Dollar Tree are getting caught up in the selling wave, with DT down about 9% while Five Below (Nasdaq: FIVE) is shaving off 25% of its value today.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 1,550.40 (-3.67%)
Nasdaq Composite: Down 855.72 (-4.85%)
S&P 500: Down 225.56 (-3.98)
The markets have succumbed to the tariff-fueled selling pressure, and there is nowhere to hide. President Trump’s tariff plan is intensifying the trade war. The Dow Jones Industrial is spiraling by over 1,160 points, while the tech-laden Nasdaq Composite is suffering a 4.3% drop. Meanwhile, the S&P 500 is on track for its single worst performance in two years. No sector of the economy has been left unscathed, and all of them are currently trading in the red. Consumer discretionary stocks are reeling by 5%, while the energy and technology sectors are each seeing declines of 5%.
Several of the Magnificent 7 stocks are seeing declines in the ballpark of 6%, including Tesla (Nasdaq: TSLA), Meta (Nasdaq: META) and Amazon (Nasdaq: AMZN). New issue Newsmax (NYSE: NMAX) couldn’t have picked a worse day to ring the opening bell on the NYSE with the stock plummeting by a double-digit percentage.
AstraZeneca (Nasdaq: AZN) is bucking today’s downward trend and gaining 2.3% on the heels of FDA approval for one of its drugs. AZN is one of the stocks ignoring the tariff headlines today.
PepsiCo (Nasdaq: PEP) is gaining 2% on the heels of a report in the Wall Street Journal that it is trying to recapture lost market share after “losing focus.” Also, PepsiCo is partnering with sandwich shop Subway for a Doritos inspired sub sandwich.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 1,166.15 (-2.76%)
Nasdaq Composite: Down 768.16 (4.33%)
S&P 500: Down 181.42 (-3.20%)
Market Movers
We were able to uncover some gainers in today’s market sell-off.
Citi analysts identified a couple of discount retailer stocks that could withstand the trade wars, including TJX Companies (NYSE: TJX) and Ross Stores (Nasdaq: ROST), the former of which is up 2.2% on the day.
Potato company Lamb Weston (NYSE: LW) is seeing gains of 7% on the heels of better-than-expected quarterly results and a steady outlook.
Pharma stocks Gilead Sciences, Amgen and Vertex Pharma are seeing gains between 1% and 1.5% on the day.
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