Stock market today: Nasdaq, S&P 500 sell-off as Nvidia sinks 8%, Trump reiterates tariff plans
Published On Feb 27, 2025, 4:07 PM
Recent market activity has seen a significant decline in stocks, particularly in the tech sector, following Nvidia's disappointing earnings outlook which led to an 8% slump in their shares. Overall, the S&P 500 fell by over 1.6% and the Nasdaq by 2.8%. Meanwhile, the economic picture appears dimmer, signaled by sluggish GDP growth of 2.3% and rising jobless claims at 242,000, indicating a softening labor market. Additionally, President Trump's reaffirmation of tariffs against Mexico, Canada, and further duties on China has injected uncertainty into the market, which may contribute to further volatility in stock prices. Investors are now closely watching upcoming data releases, particularly related to inflation and interest rates, which could influence market direction.
Stock Forecasts
NVDA
Negative
Nvidia's outlook for first quarter gross margins has raised concerns among investors, leading to significant sell-off pressure on the stock and likely reflecting broader concerns in the semiconductor sector amidst trade tensions and slowing economic growth.
SOXX
Negative
Given the pressures from potential tariffs impacting tech supply chains and recent performance concerns in semiconductor stocks, investors might consider diversifying away from tech-specific stocks, indicating a bearish outlook for NVDA in the short-term.
XLE
Positive
As Trump moves forward with tariffs, the Energy sector, particularly related to oil prices, may benefit in the short term due to reduced competition from imports and tightened supply dynamics, creating a positive outlook for ETF XLE.
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