The US stock market ended sharply lower on Thursday, with the Nasdaq Composite posting its worst day in about a month. The S&P 500 turned negative for the year, while the Dow Jones Industrial Average fell 0.5%. Investors are weighing the impact of President Trump’s threatened trade tariffs and Friday’s inflation data.
Tech stocks led the way down, with Nvidia Corp. seeing an 8.5% decline in shares. The company’s worst post-earnings drop since November 2018. The Roundhill Magnificent Seven ETF also fell 3.2%, while the tech-heavy Nasdaq Composite shed 2.8%.
Concerns over President Trump’s proposed tariffs on Canada, Mexico, and China have contributed to market jitters. Investors are worried about the potential impact on inflation and economic growth. Thursday’s bond-market selloff, which pushed 10-year yields higher for the first time in seven sessions, has also added to the uncertainty.
Ahead of Friday’s PCE inflation reading, investors are on edge. A disappointing reading could trigger a sell-off in stocks, while an upside surprise could push the 10-year Treasury yield back up. Experts warn that the market may be vulnerable to a “big swing” if the data reinforces stagflation fears.
The S&P 500 index fell about 71 points, or 1.2%, on Thursday, heading for its lowest close since mid-January. The Dow Jones Industrial Average ended at 43,239.50, while the Nasdaq Composite finished at 18,544.42.
Source: https://www.marketwatch.com/livecoverage/stock-market-today-dow-s-p-500-and-nasdaq-in-line-for-gains-after-nvidia-calms-traders