Stock Market Today: Nasdaq Falls 4% After Trump Doesn't Rule Out Recession

[riversedge]

Source: WSJ


Dow, S&P retreat, Treasury yields drop as economic fears mount

Last Updated: March 10, 2025 at 3:51 PM EDT


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Stock Market Today: Nasdaq Falls 4% After Trump Doesn't Rule Out Recession
Dow, S&P retreat, Treasury yields drop as economic fears mount

Last Updated:

March 10, 2025 at 3:51 PM EDT

Stocks slid Monday as concerns about the U.S. economy tipping into a recession grew.

The Dow slid 700 points, the S&P 500 fell more than 2% and the Nasdaq Composite tumbled nearly 4% as shares of big tech companies extended their selloff. Tesla's stock lost 15%. Shares of the other Magnificent Seven stocks—Apple, Microsoft, Alphabet, Amazon.com, Nvidia and Meta Platforms—fell more than 3%.

President Trump over the weekend refused to rule out the U.S. entering a recession this year, telling Fox News there will be a “period of transition, because what we’re doing is very big.” In contrast, Commerce Secretary Howard Lutnick told NBC News: "There's going to be no recession in America."

Some investors say that the Trump administration's seemingly blasé attitude toward potentially setting off a downturn is rattling market watchers, who had believed that Trump's pro-growth stance would boost the economy and markets...................

Read more: https://www.wsj.com/livecoverage/stock-market-today-dow-nasdaq-sp500-03-10-2025

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Link to tweet

[homegirl]

1. HERE IT COMES...

Donald John Trump's Biggest Bankruptcy EVER!!

[Miguelito Loveless]

2. Where are the getting 700 from for the Dow?

I am showing 889 at close.

[Rebl2]

7. Same

What I saw was 899

[IbogaProject]

11. Time lag for trades to post after 4pm close.

Here are top headlines on Marketwatch

Nasdaq books worst day since 2020, Dow drops nearly 900 points as recession fears escalate

Don’t expect Trump or Powell to bail out investors this time as stock market nears ‘danger zone’

Trump’s first 50 days: Stocks head for worst start to a presidential term since 2009

Economists thought Trump would try to prevent a recession. That’s now in doubt.

But then there is one that differs but is based on 4th quarter earnings reports details, which is obviously lagging and biased as CEOs want their investors confident.

Despite stocks’ selloff, companies’ talk of recession is lowest since 2018

[Rebl2]

12. Hundreds of economists

warned last year that trump would cause a recession if elected. I distinctly remember that because I was surprised they were saying this. I guess they were not wrong.

[progree]

13. The OP has "Last Updated: March 10, 2025 at 3:51 PM EDT", i.e. 9 minutes before the close

Last edited Mon Mar 10, 2025, 08:01 PM - Edit history (2)

so apparently it dropped quite a bit in those last 9 or so minutes (not a great harbinger for tomorrow)

Edited to add: here's the chart for today:
https://finance.yahoo.com/quote/%5EDJI/
It was last 700 points down at about 130 PM EDT, 2 1/2 hours before the close. so
It did fall 100 points in the last half hour /End Edit

No Pain Without Gain

Hardship Builds Character

Life Sucks, and Then You Die

Picture Wiley E. Coyote running off the edge of the cliff, noticing that suddenly there's no feeling under his left foot, likewise his right foot, then he looks down, and then:

M a g a a a a a a a a    a    a    a        a        a            a               a                                      a

[tonekat]

3. Brilliant!

"I know you all hate me so I'm going to ruin everything for everyone."

[kysrsoze]

4. We took our 401K's out of the market last week - went to mainly cash and ultra-safe muni bond funds

Our bleeding has stopped, but it won't for others. Get out while you can. I don't see anything indicating a long-term upswing unless pResident Assface chokes on a cheeseburger.

[redstatebluegirl]

5. He thinks a recession will force the fed to drop

interest rates which would help someone like him in debt up to his ears.

[progree]

6. Update: S&P 500 closed Monday 3/10 at 5615, down 2.7% for the day and 2.9% below the election day close

I only follow the S&P 500, as it is by far the best measure of the three (Dow, S&P 500, and Nasdaq) of the total U.S. stock market

it closed Monday March 10 at 5615, down 2.7% for the day,

and down 2.9% from the 5783 election day level,

and down 6.4% from the inauguration-eve level,

and down 4.5% year-to-date,

and down 8.6% from its all-time closing high of 6144 on Feb 19.

Asked whether the stock market decline was due to his tariffs, Trump said Thursday: “A lot of them are globalist countries and companies that won’t be doing as well because we’re taking back things that have been taken from us many years ago.” https://www.mprnews.org/story/2025/03/06/trump-delays-tariffs-on-most-goods-from-mexico-for-a-month

S&P 500
# Election day close (11/5/24) 5783
# Last close before inauguration day: (1/17/25): 5997
# 2024 year-end close (12/31/24): 5882
# All-time closing high (2/19/25): 6144

# Several market indexes: https://finance.yahoo.com/
# S&P 500: https://finance.yahoo.com/quote/%5EGSPC/
https://finance.yahoo.com/quote/%5EGSPC/history/

It is down 8.6% from its all-time closing high of 6144 on Feb 19. Anything between 5% and 10% down is in "pullback" territory. Corrections start at 10% down, and bear markets start at 20% down.

[bucolic_frolic]

8. Index investors will never sell, so that's 53% of the market

"taking back things that have been taken from us many years ago.”

Sounds like a divorce from a hillbilly shotgun wedding.

[Montauk6]

9. Does this mean Dye-Job Jesse the Waterboy will be cussing out Biden again?

[neverforget]

10. But I was told that he was good for business and we'd get tired of winning?

I wonder how his business benefactors like him now nearly 2 months in.....

[elliesmandt]

14. Trickle Down

The Washington Post reported, "Though all three major U.S. stock indexes slumped, Trump’s team projected confidence that the volatility would prove temporary and that an economic boom set off by tax cuts would follow later this year."

Studies have proven time and time again that "trickle-down economics" and tax cuts for the very wealthy only serve to increase the economic disparity between the very wealthy and the rest of the citizens. Will the Republican party ever stop pandering to billionaires?