Investing
Live Nasdaq Composite: AMZN (Nasdaq: AMZN), CEG (Nasdaq: CEG) Fall in Sea of Red
Published:
Last Updated:
Key Points
-
The markets are taking back some of yesterday’s gains.
-
All three of the major stock market averages opened in the red.
-
Inflation is showing signs of easing after March’s CPI print was revealed.
Live Updates
Live Coverage Has Ended
Markets Lose Their Mojo
The markets finished the day much like they started it – lower. All three of the major stock market indexes were sent reeling today, including an eye-popping 4% drop in the Nasdaq Composite. Right behind it was the Dow Jones Industrial Average, with nearly another 1,000-point drop, and the S&P 500, falling 3.3%.
President Trump is willing to extend the 90-day tariff relief, but it did little to lift the market sentiment today. Meanwhile, the trade war with China is only becoming more intense, with Fox Business reporting that President Trump is looking to delist China-listed companies from the U.S. stock market. Here’s a look at today’s damage:
Dow Jones Industrial Average: Down 964.73 (-2.38%)
Nasdaq Composite: Down 698.15 (-4.08%)
S&P 500: Down 181.50 (-3.3%)
Tariff Fears Return
The Nasdaq Composite’s 5.8% drop is being fueled by declines in Big Tech, including Apple (Nasdaq: AAPL), Microsoft (Nasdaq: MSFT), and Amazon (Nasdaq: AMZN), which are each down between 4% and 7% today. Meanwhile, the S&P 500 is barreling toward circuit breaker status in which trading on the NYSE is halted to prevent further panic selling. President Trump is speaking with Cabinet members today on Capitol Hill while a U.S./China trade war fuels selling. Every sector of the economy is showing red today, including a 6.7% drop in energy stocks.
Apple Falls 6%
Apple (Nasdaq: AAPL) stock is falling by over 6% in today’s trading action. The declines come on the heels of the day in which it experienced its best trading day in nearly three decades.
The broader market selling has intensified, sending the Nasdaq Composite spiraling by about 5%, the Dow Jones Industrial Average lower by 3.4% and the S&P 500 lower by 4.2%, erasing much of yesterday’s gains. Tariffs are easing while inflation is falling, but stocks are still spooked.
Roller Coaster Ride
Stocks remain under pressure as of mid-morning trading, including a 3.2% drop in the tech-heavy Nasdaq Composite after yesterday’s historic performance. The easing tariffs have failed to lift market sentiment today.
Used-car platform CarMax (NYSE: KMX) is falling 14% after a disappointing fiscal Q4 earnings print.
Taiwan Semi (TSMC) is falling by 3%.
Trump Media (Nasdaq: DJT) is falling 1%.
U.S. Steel (NYSE: X) is falling by 7.3%.
The markets opened in a sea of red on the heels of yesterday’s historic rally. Today these skittish markets are taking back some of those gains after investors followed President Trump’s advice to buy the dip. Despite tariff relief, all three of the major stock market averages went south, with Big Tech names dragging the Nasdaq Composite lower. Most sectors of the economy were under pressure in early trading, including declines of over 3% each in energy and tech.
Amazon (Nasdaq: AMZN) is down 3% this morning. Amazon CEO Andy Jassy said on CNBC that the current market environment could be a tailwind for acquisitions. He also believes sellers on the e-commerce platform would pass along tariff costs to consumers. The company continues to invest heavily in AI.
The markets has the opportunity to shift their attention from tariffs to inflation this morning. In a dose of good news, the Labor Department’s latest inflation print came in cooler than expected, with consumer prices easing to 2.4% in the 12-month stretch leading up to March, compared with economists expectations of 2.6%. On a monthly basis, the CPI declined by 0.1% last month after climbing higher by 0.2% in February, a welcome shift. Historically, March inflation generally increases, with this year marking a notable shift in the trend.
Dow Jones Industrial Average: Down 706.27 (-1.74%)
Nasdaq Composite: Down 478.08 (-2.7%)
S&P 500: Down 117.81 (-2.16%)
Market Movers
Tesla (Nasdaq: TSLA) stock is off 5% today. The company has begun selling its EVs in Saudi Arabia where it is hoping to drive a social shift in the oil-rich Kingdom that is dependent on fossil-fueled powered vehicles.
Cognizant Technology Solutions (Nasdaq: CTSH) is falling by 3% today after inking a partnership deal with OMRON’s automation business products. With a market cap of $34.8 billion, CTSH pays a dividend yield of 1.8%.
Energy stocks are also under pressure, including Constellation Energy (Nasdaq: CEG), which is falling by 3.5% today. The stock is up over 10% in the past five days and is experiencing profit taking today though it remains above the $200 threshold.
You worked hard to build a six-figure portfolio. But, you’re aware that building a comfortable retirement not just about saving—it’s about strategy. For example, if you’re not taking taxes into account, you’re missing out on a key input to optimize your wealth. Answer a few simple questions to find a financial advisor who can help you take steps to wield your assets in ways to compound over time. Click here to get started now. (Sponsor)
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
