Wall Street closes sharply lower due to trade and tariff uncertainty, tech stocks lead decline.

From Nasdaq: 2025-03-07 09:30:00

Wall Street closed sharply lower on Thursday, with the Nasdaq Composite moving into a correction phase due to trade and tariff uncertainty. The Dow Jones fell 1%, the Nasdaq slid 2.6%, and the S&P 500 lost 1.8%. Tech, real estate, and consumer discretionary sectors declined, while the energy sector advanced slightly. The fear-gauge VIX increased by 13.4%.

President Trump’s unpredictable trade policies caused a stock market bloodbath, with tech stocks leading the decline. The Nasdaq Composite is now officially in correction territory, more than 10% off its record high. Concerns about tariffs impacting economic growth persist. Big tech stocks like Tesla and NVIDIA tumbled. Economic data showed an increase in U.S. productivity and a rise in the trade deficit in January.

The Department of Labor reported that fourth-quarter productivity increased by 1.5%, while unit labor costs rose by 2.2%. The trade deficit in January was $131.4 billion, up from December. Initial jobless claims decreased by 21,000, with continuing claims also rising. Market uncertainty remains high due to ongoing trade policy developments and their potential impact on the economy.



Read more at Nasdaq: Stock Market News for Mar 7, 2025