Thursday, 11 September 2025
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Nasdaq on course to confirm correction as trade war worries weigh
Wednesday, 5 March 2025 01:10 WIB | MARKET UPDATE |Indeks Nasdaq

Wall Street's main indexes fell on Tuesday, with the tech-heavy Nasdaq on course to confirm a correction, as investors feared that an escalating trade war between the U.S. and its partners could damage the country's economy.
The Nasdaq Composite index was on track to fall into correction territory, having fallen 10% from its record closing high on December 16.
Financials weighed on all the three indexes and those on the S&P 500 led sectoral declines with a 3.6% drop.
Wall Street's biggest banks such as Citigroup (NYSE:C) and JPMorgan Chase & Co (NYSE:JPM) fell 7.4% and 4.8%, respectively, sending the bigger banks index down 5.5%.
The CBOE market volatility index added 1.99 points to touch a two-month high.
The latest trigger for equities came after the United States' tariffs on imports from Mexico and Canada, along with its doubled duties on Chinese goods that took effect on Tuesday.
Following this, Beijing responded with additional tariffs on U.S. imports and Canada announced 25% tariffs on U.S. imports with immediate effect.
A standoff between the countries could upend nearly $2.2 trillion in two-way annual trade.
"The fear here is that it's going to slow (economic) growth," said Adam Sarhan, chief
executive of 50 Park Investments in New York.
"And when you have a slowdown in economic conditions, it's a situation where banks specifically make less money because fewer goods and services are traveling through the economy."
At 11:47 a.m. ET, the Dow Jones Industrial Average fell 698.44 points, or 1.62%, to 42,492.80, the S&P 500 lost 88.03 points, or 1.50%, to 5,761.69 and the Nasdaq Composite lost 210.73 points, or 1.15%, to 18,139.46.
Ford (NYSE:F) and General Motors (NYSE:GM), that have vast supply chains across north America, fell 3% and 3.6%, respectively, while housing stocks touched a one-year low.
Nasdaq components such as Nvidia (NASDAQ:NVDA) and Meta (NASDAQ:META) fell, while Tesla (NASDAQ:TSLA) dropped 5.8% after weak monthly China sales data.
Investors are pricing in that the surcharges will fan inflation pressures, dampen demand and eat into corporate profits at a time when recent data has resurfaced expectations of a stalling economy. The domestically focused Russell 2000 index (RUT) fell 2%.
Traders also added to interest rate cut bets with the Federal Reserve now expected to lower borrowing costs by at least three 25 basis points by December, according to data compiled by LSEG.
New York Fed President John Williams' comments later in the day will be parsed for the central bank's stance on monetary policy.
U.S. shares of bullion miners such as Harmony (JO:HARJ) Gold Mining rose 3.7%, tracking higher gold prices as markets flocked to the safe-haven asset.
Target lost 5.8% after the retailer forecast full-year comparable sales below estimates.
Best Buy (NYSE:BBY) fell 15.3% after the electronics retailer issued a downbeat forecast, while Walgreens jumped 6.6% as a report hinted that the pharmacy chain is closing in on a take-private deal by Sycamore Partners.

Declining issues outnumbered advancers by a 4.66-to-1 ratio on the NYSE and by a 3.27-to-1 ratio on the Nasdaq.

The S&P 500 posted 38 new 52-week highs and 43 new lows, while the Nasdaq Composite recorded 19 new highs and 571 new lows.

Source: Investing.com

RELATED NEWS
PPI Cools, Fed Cut Speculation Rises...
Thursday, 11 September 2025 07:43 WIB

Asian stocks moved mixed on Thursday after Wall Street rallied and pushed the S&P 500 to a new record. A decline in US producer price inflation (PPI) bolstered confidence that the Fed could cut in...

S&P 500 notches record-high close as Oracle soars on AI optimism...
Thursday, 11 September 2025 03:24 WIB

The S&P 500 notched a second straight record-high close on Wednesday, as Oracle surged and cooler-than-expected inflation data supported expectations the U.S. Federal Reserve will cut interest rat...

European Stocks Close Slightly Lower...
Wednesday, 10 September 2025 23:53 WIB

European stocks closed mostly lower on Wednesday with losses from tech, consumer defensive companies, and miners as markets continued to assess the outlook on global rates and geopolitical risk. The E...

S&P 500 rises to record on new inflation data ...
Wednesday, 10 September 2025 21:02 WIB

The S&P 500 jumped to a fresh record on Wednesday after a reading on wholesale prices unexpectedly declined, a welcome development for investors clamoring for a Federal Reserve rate cut next week ...

European Stocks Rise as Retailers, Tech Stocks Rally...
Wednesday, 10 September 2025 14:30 WIB

European stocks have opened higher as a bit of political calm enters the market. The Stoxx 600 Index was up 0.6% in its third session of straight gains. Retailers led the rally as Inditex shares jump...

LATEST NEWS
Silver Steady at $41, Awaits US CPI

Silver held around $41/oz, near a 14-year peak, as the market awaited the US Consumer Price Index (CPI) release, which could determine the size of the Fed's interest rate cut next week. Wednesday's US Consumer Price Index (PPI) data fell 0.1%...

The Shadow of Oversupply Still Haunts the Global Oil Market

World oil prices recorded a slight decline in trading on Wednesday (September 10th) despite escalating geopolitical tensions in the Middle East. Prices briefly surged nearly 2% following Israel's attack on Qatar, but the gains were...

Dollar Sideways, CPI Risks Ahead

The US dollar held steady early in the Asian session after the PPI data fell 0.1% in August, reinforcing expectations that the Fed would cut interest rates next week. The Dollar Index edged up to 97.822, marking a third consecutive day of gains....

POPULAR NEWS
Will Nonfarm Payrolls revisions hint at a 50 bps Fed cut next week
Tuesday, 9 September 2025 04:05 WIB

The United States (US) Bureau of Labor Statistics (BLS) will publish the 2025 preliminary benchmark revision to the Establishment Survey Data on...

Russian Forces Attack Power Plant In Kyiv Region, Ukraine's Energy Ministry Says
Monday, 8 September 2025 17:12 WIB

Russian forces attacked a thermal power plant in the Kyiv region as part of an overnight attack, Ukraine's Energy Ministry said on Monday,...

US Nonfarm Payrolls benchmark revision points to 911,000 decrease in March 2025 level of employment
Tuesday, 9 September 2025 21:13 WIB

The US Bureau of Labor Statistics reported on Tuesday that the preliminary estimate of the Current Employment Statistics (CES) national benchmark...

Breaking News: US Annual PPI Inflation Falls to 2.6% in August, Compared to an Expected 3.3%
Wednesday, 10 September 2025 19:39 WIB

Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), fell to 2.6% annually in August from 3.3% in...