Stock market today: Dow, S&P 500, Nasdaq sink as Nvidia plummets 7%, Trump tariffs stalk markets
Published On Mar 3, 2025, 12:02 PM
US stocks saw a decline on Monday as Nvidia's shares dropped significantly due to fears that the company's AI chips are being smuggled to China, undermining U.S. export controls. The broader market was affected by upcoming tariff implementations on Canada and Mexico and worries over economic growth fueled by mixed economic data. Analysts predict continued volatility ahead of key employment reports and retail earnings this week, with overall sentiment leaning cautious as first-quarter growth estimates have been slashed.
Stock Forecasts
NVDA
Negative
Nvidia is facing increasing scrutiny and potential regulatory challenges regarding its exports, which may negatively impact its stock price.
TSLA
Positive
Tesla is receiving bullish sentiment from analysts, particularly with a substantial price target increase based on the company's pivot towards AI and robotics, which could attract investor confidence.
TGT
Negative
Expectation of rising tariff-induced costs may impact consumer spending and overall economic sentiment negatively, influencing stocks closely tied to consumer goods.
MSTR
Positive
Given the boosted market sentiment from Trump's cryptocurrency reserve announcement, companies like MicroStrategy may see increased interest and trading activity, although volatility remains a concern.
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