The major U.S. averages fell sharply on Thursday, dragged down by a selloff in technology stocks. The S&P 500 fell 1.6%, the Nasdaq 100 dropped 2.7%, and the Dow dropped 192 points. Nvidia slumped 6.1% after its earnings report, weighing on the broader market as investors weighed economic risks. Sentiment weakened further after President Trump confirmed a 25% tariff on European cars and new levies on Mexico and Canada starting March 4. Salesforce fell 2.9% on weak guidance, while Uber dropped 2.3% amid reports that Tesla (-3.1%) is seeking approval to operate a ride-hailing service in California. Meanwhile, economic data showed GDP grew at an annualized rate of 2.3% in the fourth quarter, while jobless claims unexpectedly rose to 242,000, signaling potential labor market weakness. (Newsmaker23)
Source: Trading Economics
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