S&P, Nasdaq post big quarterly percentage drops on Trump tariff turmoil
By David
French
Mon March 31, 2025 4:54 PM
Today, rather than getting more assurances from the White House that the tariffs coming this Wednesday would be measured, instead there was the announcement Sunday that they would be widespread and include all nations which caused all the indexes to open down, the Nasdaq way down. The rest of the session was in recovery mode with the S&P and Dow doing better due to more safe haven stocks being available there.
The Dow, with its conventional industrial base, fared the best with a substantial 3-digit gain at close and the Nasdaq almost closed at break-even after starting with a 500-point loss. But this momentary S&P and Dow shake-off of the uncertainty is very much contingent on the tariff details coming Wednesday being favorable. Nonetheless, both the S&P and Nasdaq suffered their worst losses, both monthly and quarterly, since 2022. Goldman Sachs increased its odds for recession from 20% to 35% while the VIX climbed a notch closer to the 30 “panic” benchmark. Per the CBOE, volume came in at 16.6 billion.
DJ: 41,583.90 -715.80 NAS: 17,322.99
-481.04 S&P: 5,580.94
-112.37 3/28
DJ: 42,001.76 +417.86 NAS: 17,299.29
-23.70 S&P: 5,611.85
+30.91 3/31
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