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S&P 500 (NYSEARCA: SPY) Live: JBHT (Nasdaq: JBHT) Falls, ABT (NYSE: ABT) Rises on Tariff Fallout

Gerelyn Terzo

Published: April 16, 2025 10:55 am

Last Updated: April 16, 2025 3:21 pm

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S&P Sinks 3% in Tech-Fueled Sell-Off

3:21 pm by Gerelyn Terzo

Technology stocks are in freefall mode, sending the S&P 500 to its lows of the session for a decline of 3%. Federal Reserve Chairman Jerome Powell addressed the tariffs, saying that they complicate the central bank’s efforts to tame inflation and grow the economy. Policymakers are seeking greater clarity before tweaking monetary policy. Bank of America CEO Brian Moynihan is factoring in zero interest rate cuts in 2025.

Magnificent Seven stocks are falling anywhere between 4% and 9.8%, pressuring the S&P 500 and Nasdaq Composite lower.

Here’s a look at the damage as of late afternoon trading:

Dow Jones Industrial Average: Down 860 (-2%)
Nasdaq Composite: Down 709.16 (-4.2%)
S&P 500: Down 163.62 (-3.0%)

Tech Falls, Energy Rises

1:04 pm by Gerelyn Terzo

The markets are mired in losses as tech stocks are sent reeling from the tariff fallout. All three of the major stock market averages are lower, including a 1.2% drop in the S&P 500. The tech-heavy Nasdaq Composite is falling a steeper 2%, pressured by Nvidia (Nasdaq: NVDA) and Advanced Micro Devices (Nasdaq: AMD), both of which are also part of the S&P 500 index.

Palantir Technologies (Nasdaq; PLTR) is losing about 6% on the day.

Energy stocks are the rare winners of the day, with a 2% sector gain led by Diamondback Energy’s (Nasdaq; FANG) 3.8% advance.

 

 

 

Earnings Growth

11:16 am by Gerelyn Terzo

The S&P 500 is now lower by less than 1% on the day, off of its worst levels of the session. Over the past five days, the broader market index has lost 2% of its value as earnings season rolls on.

FactSet published a report revealing that the S&P 500 is expected to report Q1 earnings growth of 7.3%, year over year. If that becomes reality this earnings season, it will represent the seventh-consecutive quarter of earnings growth for the index. Historically, most S&P 500 companies print results that exceed estimates, suggesting the index will show growth closer to the 10% area.

The markets remain stuck in the doldrums, owing to tariffs, but appear to be coming off their lows of the morning. The S&P 500 is lower by 1.1%, while the Nasdaq Composite and Dow Jones Industrial Average are losing 1.8% and 0.5%, respectively. Retail sales climbed higher by a better-than-expected 1.4% in March, reflecting a resilient consumer. And earnings season is going swimmingly so far. But good news was overshadowed by tariff woes in this headline-driven market after technology leader Nvidia (Nasdaq: NVDA0) warned of an upcoming $5.5 billion charge on China exports of its processors.

Most sectors are seeing red today, including a steep 2.6% drop in tech, while energy stocks are moving higher as a group by 1.8%.

J.B. Hunt Transport (Nasdaq: JBHT) is down a steep 8.4% today. Transportation stocks are often considered a gauge of the economy, and signs of an economic slowdown are weighing on the stock. Management has warned that demand could be impacted by the trade wars.

Here’s a look at the performance as of morning trading:

Dow Jones Industrial Average: Down 208.19 (-0.52)
Nasdaq Composite: Down 328.13 (-1.9%)
S&P 500: Down 62.71 (-1.1%)

Market Movers

In addition to Nvidia, Advanced Micro Devices (Nasdaq; AMD) also cautioned that it expects its charge for China exports to reach $800 million, sending shares lower by a whopping 6.3%.

We’ve also got some gainers in the S&P 500.

Pharma stock Abbott Labs (NYSE: ABT) is rising 5.2% this morning on a Q1 earnings print that surpassed consensus expectations. ABT is a steady dividend-paying stock with a dividend yield of 1.8%. The company’s profits and revenues have been growing thanks to robust demand for its nutrition products and its medical devices, both of which are making up for some weaker market segments.

Travelers (NYSE: TRV) is gaining 3.6% on the heels of its earnings report. At $257 per share, the insurance stock is within a stone’s throw of its 53-week high.