Market indexes down due to economic concerns from US trade policy and disappointing tech earnings

From Nasdaq: 2025-03-06 19:12:29

Stock indexes closed down on Thursday, with the S&P 500 and Nasdaq 100 hitting 4-month lows. Concerns about trade policies and disappointing tech earnings weighed on stocks. President Trump imposed tariffs on Canadian, Mexican, and Chinese goods but granted exemptions. Global bond yields surged, impacting stock markets worldwide.

US economic news was mixed, with jobless claims falling, Q4 productivity revised up, but the trade deficit widening. Market focus shifts to Friday’s payroll report and Fed Chair Powell’s speech. Interest rates rose, with T-notes pressured by global bond yield movements. European bond yields were mixed, and the ECB cut rates.

Chip stocks led the market lower, with Marvell Technology down 19%. Economic worries hit travel and cruise stocks, while Victoria’s Secret and Iron Mountain also saw declines. Fastenal and Veeva Systems reported positive earnings. Homebuilding stocks rallied on upgrades, and Burlington Stores and Zscaler reported strong revenue.

Earnings reports for various companies were released on 3/7/2025. Rich Asplund did not hold positions in the mentioned securities. Information provided is for informational purposes only. Market outlook remains uncertain amidst trade policy concerns and global bond yield movements.



Read more at Nasdaq: Economic Concerns from US Trade Policy Hammers Stocks