Stock market today: Dow sinks 900 points, Nasdaq plunges 4% in worst day since 2022
Published On Mar 10, 2025, 4:39 PM
US stocks experienced a severe decline on Monday, with the Dow Jones falling nearly 900 points and the S&P 500 down about 2.7%. This downturn was largely driven by investor concerns regarding a potential economic slowdown as highlighted by President Trump and his economic team. The tech sector led the sell-off, particularly affecting companies known as the "Magnificent Seven," which includes major players like Tesla, Nvidia, Apple, and Google. As a result, Tesla saw a significant drop of 15%, completely negating its post-election gains. The ongoing tariff negotiations and the uncertainty surrounding economic policies are expected to contribute to heightened market volatility.
Stock Forecasts
TSLA
Negative
Given the prevailing market sentiment is bearish, particularly among tech stocks which have shown significant declines, it is anticipated that the downward trend will continue unless economic indicators suggest a recovery. With fears of a recession and weak corporate earnings likely to dominate headlines, tech stocks may further fall due to investor caution.
XLU
Positive
As the market shows signs of a prolonged correction, traditional safe havens like consumer staples and utilities are expected to perform better. The utility sector, in particular, has witnessed some investors shifting their focus amid this volatility, suggesting a potential for stability.
RDFN
Positive
With the recent announcement of a significant acquisition by Rocket Companies, the stock of Redfin has surged, indicating positive sentiment and potential for growth in the digital real estate sector. The integration of their resources may lead to improved operational efficiencies that could boost shareholders' value.
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