Market Recap (3/16/25)
Market Recap of the Week of Mar 10, 2025 - Mar 14, 2025
Source: Apple Stocks Application
Overall Market Trends:
Stocks continued to plummet last week. The New York Stock Exchange Composite (NYSE) fell 342 points (-1.75%), the S&P 500 collapsed 130 points (-2.26%), the NASDAQ Composite tumbled 439 points (-2.41%), and the Dow Jones Industrial Average posted weekly losses of 1,306 points (-3.05%). The Dow and NYSE fell for the second straight week while the tech-heavy NASDAQ and S&P 500 marked their fourth straight losing week.
The market saw a sharp decline on Monday as investors have begun to worry that the recent sell-off relating to President Trump’s foreign policy decisions may tip the economy into a recession, something Trump avoided ruling out in an interview over the weekend. The NASDAQ saw its sharpest decline since September 2022, falling over 4%, as the Magnificent 7 led the way in the sell-off as investors looked to move their money into relatively safer avenues. Tesla (NASDAQ: TSLA) fell 15% for its worst day since 2020, Nvidia (NASDAQ: NVDA) lost 5%, and Meta (NASDAQ: META) declined 4%.
Stocks continued to pull back on Tuesday. Despite opening slightly green, stocks fell after President Trump announced a hike from 25% to 50% for Canadian steel and aluminum duties after the Premier of Ontario, Doug Ford, announced a surcharge on U.S. electricity exports. However, Ford recanted the surcharge later in the day after a conversation with Commerce Secretary Howard Lutnick. While Trump recalled the increase, he stated that the 25% duty would still take effect. President Trump further incited fear in investors after he continued to act unperturbed by the shaken-up-stock market, commenting that “Markets are going to go up and they’re going to go down but, you know what, we have to rebuild our country.” Delta Airlines (NYSE: DAL) added to the chaos after the company cut down its earnings forecasts due to weaker U.S. demand, causing the company to fall 7.3%. This news pushed other travel-related companies lower, most notably Disney (NYSE: DIS) and Airbnb (NASDAQ: ABNB) by about 5%.
The market rebounded on Wednesday after a weaker-than-expected inflation report eased economic concerns. The Consumer Price Index (CPI) reportedly increased by 0.2% in February, lower than the 0.3% estimates. Core CPI also came in lower than expected. Canada and the European Union (EU) announced retaliatory tariffs against the U.S. in response to Trump’s steel and aluminum tariffs that took effect on Wednesday. However, this news was outweighed by the positive inflation report.
Stocks tumbled again on Thursday, leaving the S&P 500 in correction territory. President Trump posted on his Truth Social platform Thursday morning, threatening a 200% tariff on all alcoholic imports from European Union countries in response to the bloc’s 50% tariff on whisky. He also added later in the day that he will remain firm on implementing a broader set of tariffs scheduled for April 2. Treasury Secretary Scott Bessent reiterated the Trump Administration’s lack of concern for short-term movements including the recent stock-market plunge, stating that the administration is more focused on the long-term health of the economy.
Stocks soared during Friday's trading session, although not nearly enough to overcome losses experienced throughout the week, resulting in weekly losses. Big tech companies, such as Nvidia, Tesla, Apple, Amazon, and Meta lead the way, rising 5%, 4%, 2%, 2%, and 3%, respectively. Despite the rise, a report from the University of Michigan showed that Consumer Confidence took a hit, falling to 57.9, lower than the expected 63.2.
Past Earnings Report:
Looking Towards the Future
Upcoming Important Economic Events:
Monday: U.S. retail sales; Empire State manufacturing survey
Tuesday: Import price index (IPI)
Wednesday: FOMC interest-rate decision; Fed Chair Powell press conference
Thursday: Initial jobless claims; Philadelphia Fed manufacturing survey; U.S. leading economic indicators
Friday: Nothing Scheduled
Future Earnings Reports: