Tesla And Nvidia Lead Stocks Lower
On Wednesday, March 26, 2025, U.S. stock markets experienced notable declines, primarily driven by significant drops in major technology stocks and concerns over impending tariffs.
Key Indices:
S&P 500: Fell 1.1%, closing at 5,712.20.
Dow Jones Industrial Average: Decreased by 0.3%, ending at 42,454.79.
Nasdaq Composite: Dropped 2%, finishing at 17,899.01.
Top Gainers:
GameStop (GME): Surged 11.7% after announcing the addition of Bitcoin as a treasury reserve asset.
Dollar Tree (DLTR): Rose 3.1% following strong profitability reports and strategic changes.
Top Losers:
Nvidia (NVDA): Plunged 6% amid reports that China discouraged its companies from purchasing Nvidia's H20 chip due to energy-efficiency concerns.
Tesla (TSLA): Dropped 5.6% due to worries regarding CEO Elon Musk's political controversies potentially harming sales.
General Motors (GM): Fell 3.1% as investors reacted to potential new tariffs on auto imports.
Major Earnings Reports:
Worthington Enterprises (WOR): Shares soared 24% after the company exceeded earnings estimates.
Cintas (CTAS): Increased by 6% after raising its earnings forecast.
Notable Industry News:
Tariff Developments: President Trump indicated potential exemptions for some proposed tariffs, leading to cautious optimism in the markets.
Consumer Confidence: The Conference Board reported a decline in its consumer confidence index to 92.9 in March, raising concerns about inflation and economic slowdown.
Overall, the market faced pressure from significant tech stock losses and uncertainties surrounding trade policies, contributing to the day's declines.
