Nasdaq nears correction territory dragged down by trade tensions
By Chibuike
Oguh, Johann M Cherian and Sukriti Gupta
Tue March 4, 2025 4:36 PM
For the second day in a row the three indexes were in freefall with the Dow, like yesterday, losing almost 700 points. The tariffs are contributing for sure but also concerns about valuations being way elevated and the inflation picture looking dour. The Nasdaq came very close to 10% correction territory today and the VIX rose to its highest since December 20. But the newly assigned tariffs are definitely on the front burner.
As today’s expert put it, “The likelihood of tariffs will lead to higher prices and lower spending” which is very concerning since consumer spending has been the main lifejacket for the economy for some time now. It’s very curious though that though all the indexes started with a grand selloff, they all almost immediately began a recovery all day to break-even by 3:30 p.m. Then at 3:30, they all suddenly plummeted again. So the big losses were really had in the final half hour. What happened at 3:30? There’s no discussion of that. Volume was very high at a whopping 18.4 billion vs a 15.9 billion average.
DJ: 43,191.24 -649.67 NAS: 18,350.19
-497.09 S&P: 5,849.72
-104.78 3/3
DJ: 42,520.99 -670.25 NAS: 18,285.16
-65.03 S&P: 5,778.15
-71.57 3/4
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