Nasdaq Composite drops over 10% from high due to Trump tariffs and tech industry concerns.

From Stocktwits: 2025-03-06 15:20:15

The Nasdaq Composite Index traded in correction territory, down 2.44% at 18,100.78, marking a 10.4% pullback from its high. The S&P 500 fell to a five-month low and broke below its 200-day moving average. Market concerns include negative earnings from AI-related companies and Chinese threats to U.S. tech dominance. Trump’s tariff exemptions for automakers didn’t lift market mood. Alibaba’s new AI model caused a sell-off in tech stocks, including Nvidia. Morgan Stanley economists predict tariffs could impact U.S. inflation and GDP growth. Retail traders remain bearish on the QQQ ETF, which was down 2.70% at $488.45.



Read more at Stocktwits: Nasdaq Composite Plunges Into Correction Territory As Trump Tariffs, Tempered Tech Industry Outlook Sets Of Another Steep Sell-Off