Stock market today: Dow sinks 550 points, Nasdaq heads for correction as stocks get clobbered on Trump tariff whiplash
Published On Mar 6, 2025, 2:21 PM
US stocks experienced a significant downturn, with the Dow Jones falling about 1.3% and the S&P 500 dropping over 2%. The decline was influenced by uncertainties surrounding the US trade policies, particularly tariffs imposed by President Trump on Mexico and Canada, and disappointing earnings from tech companies like Marvell Technology. Marvell's forecast led to substantial sell-offs in tech stocks including Nvidia, Broadcom, and AMD, with broader concerns about the economic outlook emerging from mixed jobless claims data. Investors are wary as these developments raise fears of economic stagnation, also referred to as stagflation.
Stock Forecasts
MRVL
Negative
The recent tariff uncertainties and disappointing earnings forecasts, especially from tech companies, may continue to put pressure on the stock market, particularly in the technology sector. Investors should be cautious as volatility is likely to persist owing to these factors.
BABA
Positive
Alibaba's recent advancements in AI technology appear to have spurred investor interest, leading to a rise in its stock price. This positive momentum could continue as the demand for AI technology grows, and thus presents a potential buying opportunity.
M
Negative
The broader negative sentiment due to tariff issues and economic concerns might affect retail stocks, including Macy's, which is already facing challenges with weak sales forecasts. Given this environment, the outlook for Macy's stock seems unfavorable.
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