Stock indexes down, Trump meeting with top execs causing short covering
From Nasdaq: 2025-03-11 12:10:42
- Stock indexes are down today, with the S&P 500, Dow Jones, and Nasdaq all in the red. Short covering in stock index futures followed reports of President Trump meeting with top US business executives. E-mini S&P futures are down, while E-mini Nasdaq futures are up.
- Concerns over Trump’s trade policies and government spending cuts led to Monday’s stock plunge. The Magnificent Seven stocks are up today, but Verizon’s 7% drop is dragging down telecommunication stocks. Fears of a global trade war persist, with Trump imposing tariffs on various countries.
- Bitcoin is up over 2% today after recovering from a 4-month low. Trump’s order to create a strategic crypto reserve impacted its value. Market focus is on upcoming US economic reports, trade policies, and potential government shutdown. Swaps predict a 4% chance of a rate cut at the next FOMC meeting.
- Market movements show mixed results globally, with Euro Stoxx 50 and Nikkei Stock 225 hitting lows. US interest rates are slightly lower, with T-notes impacted by stock recovery and upcoming Treasury auctions. European bond yields are on the rise, with swaps predicting a 51% chance of an ECB rate cut in April.
Read more at Nasdaq: Stocks Attempt to Stabilize as Trump Set to Meet with Top US Executives