Stock Market News: Nasdaq Dips Back Into Correction Territory
The stock market’s tariff-fueled selloff has sent the S&P 500 below its 200-day moving average for the first time since November 2023, while the Nasdaq Composite is on track to close in correction territory.
The S&P 500 was down 2.2% to 5713.90 on Thursday, which is below the 200 DMA at 5730.65.
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Read MoreWhy the 'Trump put' for investors might be found in Treasuries, not the stock market
Investors anxious for President Trump to return to his first-term playbook of tweeting about the stock market may have quite a wait ahead of them.
While tariffs have hit equity prices hard in recent weeks, a growing number of Wall Street strategists point to Trump’s likely first order of business: lowering bond yields — even if it comes at the expense of a falling S&P 500 (^GSPC).
Read MoreTesla stock sinks 6% after Baird analysts say Musk's government role adds 'uncertainty' to delivery outlook
Tesla (TSLA) stock dropped nearly 6% on Thursday as yet another investing firm cut its price target on the stock and its year-to-date losses reached 35%.
In a note published Thursday morning, analysts at Baird slashed their 12-month outlook on Tesla shares to $370 from $440, citing concerns that Wall Street’s expectations for Tesla’s first quarter deliveries are too high.
Read MoreStock market today: Dow sinks 550 points, Nasdaq heads for correction as stocks get clobbered on Trump tariff whiplash
The markets sank back toward session lows on Thursday after President Trump announced that tariffs on goods and services from Mexico that fall under the US-Mexico-Canada trade agreement (USMCA) would be delayed until April 2.
However, the president did not say the same about Canada.
“After speaking with President Claudia Sheinbaum of Mexico,
Read MoreGlobal Trade War: China Slaps Fresh Tariffs On Agricultural And Food Products From Canada
China on Saturday took another step forward in the trade war triggered by US President Donald Trump. The Asian country announced tariffs on more than $2.6 billion worth of Canadian agricultural and food products, responding to the levies introduced by Ottawa in October.
The commerce ministry announced the tariffs and informed that these will come into effect on March 20,
Read MoreThe Burst
1 Bitcoin Miner You Cannot Afford To Miss
Shares of bitcoin miner CleanSpark, Inc. (NASDAQ:CLSK) soared more than bitcoin over the past six months. However, the stock lost its momentum over the past month and declined by more than 11%.
The stock underwent significant volatility due to their correlation with bitcoin’s movement.
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Read MoreThe Ivy
1 Under-$100 Billion Growth Stock To Join Trillion Dollar Club?
Airbnb (NASDAQ: ABNB) isn’t even two decades old but it has made more than a splash in disrupting the travel and hospitality industry. Famously, one tag line announced that the largest taxi firm in the world owns no taxis (Uber) and the largest accommodation in the firm (Airbnb) owns no real estate.
With a market cap still under $100 billion yet pumping out an astonishing $3.8 billion in free cash flow alone last year,
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Read MoreThe Spotlight
Insights: 1 Sporting Stock Billionaire Bet $500 Million On
When Stephen Mandel makes a big bet, it’s worth finding out why. He’s the President and portfolio manager at Lone Pine Capital, a $10 billion fund based in Greenwich, Connecticut.
As we analyzed his portfolio, it became clear why he’s running a billion dollar fund – just about every stock in his portfolio is undervalued on a discounted cash flow forecast basis.
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