The U.S. stock market plummeted on April 3, having the market's biggest one-day loss since 2020, when the market went down due to the Covid pandemic. The move comes following the announcement of U.S. tariffs, which raise the risk of a global trade war.
As for the hard numbers on April 3, "The broad market index dropped 4.84% and settled at 5,396.52, posting its worst day since June 2020," according to CNBC. "The Dow Jones Industrial Average tumbled 1,679.39 points, or 3.98%, to close at 40,545.93 and mark its worst session since June 2020."
CNBC adds that, "The Nasdaq Composite plummeted 5.97% and ended at 16,550.61, registering its biggest decline since March 2020. The slide across equities was broad, with more than 400 of the S&P 500's constituents posting losses." The market is now roughly 12% below its record close that it reached in February.
But, Dollar General is one of the special stocks that had a huge day on April 3. Their stock soared to 4.667%, closing at 94.41, making it one of CNBC's "Market Movers."
Dollar General's business has been strong lately. According to expert Billy Duberstein of The Motley Fool, Dollar General's "fiscal fourth quarter reported in the middle of the month, Dollar General grew revenue 4.5% to $10.3 billion, which was ahead of expectations. In addition, the all-important same-store-sales metric surprised to the upside, at 1.2%, above analysts' expectations of 0.93%."
"Dollar General rallied during an otherwise brutal month for the markets," Duberstein stated, but adding, "The company reported mixed earnings, but the top-line beat was enough to assuage some concerns."
So, Dollar General is one of those rare stocks that's up, but Simply Wall Street also puts the gains into context, stating, "Dollar General Corporation (NYSE:DG) shareholders would be excited to see that the share price has had a great month, posting a 25% gain and recovering from prior weakness." They add, "Unfortunately, the gains of the last month did little to right the losses of the last year with the stock still down 43% over that time."