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All three of the US market averages (^DJI, ^IXIC, ^GSPC) end Tuesday's session in negative territory with the Nasdaq Composite leading losses as it closes over 1.7% lower. This all comes after Nvidia (NVDA) CEO Jensen Huang's keynote speech at the chipmaker's 2025 GTC event and ahead of the Federal Reserve's March interest rate decision tomorrow.
Market Domination Overtime host Julie Hyman and Yahoo Finance markets and data editor Jared Blikre recap the day's biggest market and sector moves.
To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.
I'm going to start with where the major averages ended the day down. In a word, uh, kind of sideways movement once we fell out of the open for the Dow here, off by about six tenths of 1%, about 260 points. Definitely Nvidia and big tech, a big part of the conversation today. We saw Nvidia kind of weak even into uh, Jensen Wong's keynote speech at Nvidia's big annual conference, GTC. And then the market sort of not wowed by any newness in the speech. He fleshed out a lot of the product lines that are coming our way, but nothing that revolutionary or new in those comments. And of course, we're awaiting the conclusion of the Fed's two-day meeting tomorrow. No action expected, but as always, the answers to questions in the press conference could be market moving. So all of that said, uh, the S&P 500 down as well, 1.1%, and the Nasdaq, the big loser of the day, down 1.7%. As I said, um, big tech very weak today, meta going negative on the year. It was the last of my magnificent seven to be positive thus far in 2025. No longer, Jared.
Yes, 20 update. Remember that? I think that was last month. Uh, also volatility picking up a little bit today. Nothing to write home about, but I'll give you the three-day look, and this is after two days of coming down a bit from the high 20s, you can see it's about 2179. Not the biggest deal in the long run, but still moving in the wrong direction. 10-year T-note yield, uh, just three basis points down, not a big deal there. US dollar index also slightly lower. US dollar index. Let's check out the year to date, and we can see that is the lowest level of the year. So that could be significant. We're going to watch for some potential further drops, which uh, in the old days meant risk on, and nowadays it's not always the case. So let's take a look at the sector action and only a couple sectors in the red though. We have two, energy and healthcare. And in fact, over the last three days, energy is up 5%, financials up 3.4%, but let's get back to today. And we can see the three mega cap sectors, XL Y, KNC, those were down over 1% today. And the weakest of them looking to be, uh, consumer discretionary. That contains Tesla and Amazon. So Amazon down 1 and a half percent, Tesla down 5%. I'm going to do a deep dive on some of these names in about 30 minutes here. Uh, but suffice to say we've seen a lot of weakness carry through, especially in those bigger names. Looking at our leader's board, uh, not a lot of strength there. Small oil, we mentioned energy before, uh, good quality corporate bonds. That's LQD, and MJ is cannabis. So a little bit of everything in there, but nothing to write home about as well. The biggest loser today, the arc components, and that's in this list. And here we see unprofitable tech doing even worse than a lot of those mega caps, uh, led by this very large name, which is Tesla, but that kind of bucks a trend. Most of these names pretty small there and just seeing some red across the board. Let's see if uh, China is any hope or bright spot here. Alibaba, the biggest of them. That's down 3%, but we are seeing a lot more green. If we sort by equal weight, not even quite 50%, but this is a lot more green than we're seeing in some other sectors, and I will leave us on the Dow. And that's kind of a mixed here too, although not much green to the upside. Verizon and Chevron up more than 1%. Nvidia leading the charge down there, down 3.43%.