Stock market today: Dow, S&P 500, Nasdaq wipe out Trump-led gains as tariff sell-off continues
Published On Mar 4, 2025, 1:29 PM
US markets have seen a significant decline, eliminating all post-election gains due to newly implemented tariffs on Canada, Mexico, and China which are raising fears of a full-scale trade war. The Dow, S&P 500, and Nasdaq all dropped considerably, with the Nasdaq entering correction territory. Major companies like Target and Best Buy expressed concerns over the impact of tariffs on their profits, prompting a general sell-off across stock sectors, especially in financials and consumer discretionary. Furthermore, there are increased expectations for interest rate cuts by the Federal Reserve as economic growth fears loom. Treasury yields have plunged as investors turn to bonds amidst the market volatility.
Stock Forecasts
XLF
Negative
The market's reaction to tariffs raises significant concerns about growth and corporate profits across sectors, leading to a broad-based sell-off. Companies dependent on consumer spending and those facing tariff pressures will likely struggle, indicating a cautious investment environment ahead.
OKTA
Positive
Despite the negative climate for many sectors, Okta's strong earnings performance showcases the potential for companies excelling in cybersecurity and tech, which can still thrive amidst uncertain market conditions.
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