From Yahoo Finance: 2025-03-25 23:01:00

Wall Street was dragged lower by drops in Nvidia, Tesla, and other former superstars, with the S&P 500 sinking 1.1%. The “Magnificent Seven” stocks have been central to the recent sell-off, leading the market into its first “correction” since 2023. Nvidia plummeted 6%, while Tesla extended its 2025 loss to 32.6%.

AI-related stocks like Super Micro Computer also saw declines, along with power companies focused on electrifying AI data centers. U.S. automakers faced uncertainty after the White House announced potential tariffs on auto imports post-market close. General Motors fell 3.1%, while Ford Motor fluctuated before ending with a slight gain.

Following a three-day winning streak, the stock market steadied somewhat before facing challenges from upcoming U.S. tariffs. Barclays strategists revised their year-end S&P 500 forecast down to 5,900, citing weakening consumer and company confidence. Economists are monitoring economic signals amid uncertainties surrounding tariffs and their impact on businesses.

GameStop’s stock rose 11.7% after reporting better-than-expected quarterly results and plans to invest in bitcoin. Dollar Tree surged 3.1% on the sale of Family Dollar for $1 billion, while Cintas climbed 5.8% on strong quarterly profits. The S&P 500 fell 64.45 points to 5,712.20, with the Dow Jones and Nasdaq also experiencing losses.

In international markets, indexes varied across Europe and Asia, with the FTSE 100 in London rising 0.3% on improved U.K. inflation. Treasury yields in the U.S. bond market fluctuated, with the 10-year Treasury yield ending at 4.34%. The economy and job market continue to show strength, though concerns remain about the impact of tariffs on business investment.



Read more at Yahoo Finance: Wall Street slumps as Nvidia, Tesla and other Big Tech stocks drop