Stock market today: Dow, S&P 500, Nasdaq drop amid tariff turmoil, earnings misses

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Updated Thu, Mar 6, 2025, 6:34 AM 2 min read

At the aforesaid time, trade-war uncertainty persisted arsenic investors weighed however acold President Donald Trump would beryllium consenting to negociate connected tariffs. Trump's one-month intermission connected Mexico and Canada duties for automakers initially relieved fears, but broad 25% tariffs stay successful effect, though the White House is reportedly looking astatine exemptions for cultivation products.

Macy's (M) shares slid aft the retail elephantine posted a anemic outlook amid tariff headwinds. Meanwhile, Walmart (WMT) has asked its Chinese suppliers to marque large terms cuts acknowledgment to the tariffs, Bloomberg reported.

Investors assessed play jobless claims information released connected Thursday greeting showing 221,000 archetypal claims, down from 241,000 seen the week anterior and beneath the 233,000 economists had expected. A caller tally of brushed economical information has spurred concerns that US economical maturation is stalling, reviving the specter of stagflation.

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Dow, S&P 500, Nasdaq autumn arsenic tech tanks connected tariff worries, earning miss

The large averages opened little connected Thursday arsenic investors assessed the interaction of President Trump's tariff policies and a disappointing income outlook from Marvell (MRVL) weighed connected tech stocks.

The Dow Jones Industrial Average (^DJI) fell astir 0.9% portion the S&P 500 (^GSPC) dropped 1.2%. The tech-heavy Nasdaq Composite (^IXIC) mislaid 1.8% led by losses of Nvidia (NVDA), Broadcom (AVGO), and AMD (AMD).

Tech is starring to the downside aft Marvell's (MRVL) quarterly sales forecast failed to calm anxieties implicit the AI payoff.

Thursday was shaping retired to beryllium a reversal from Wednesday's league erstwhile stocks saw crisp gains aft the Trump medication granted a temporary exemption to the Big Three automakers pursuing the implementation of 25% levies against trading partners Canada and Mexico.
Weekly unemployment claims fall, continuing claims determination higher

Data from the Department of Labor released Thursday greeting showed 221,000 archetypal jobless claims were filed successful the week ending March 1, down from 241,000 the week anterior and beneath the 233,000 economists had expected.

However, successful a motion unemployed workers are taking longer to find a caller job, continuing claims for unemployment benefits during the week ending Feb. 22 moved higher. 1.89 cardinal claims were filed during the week, up from the 1.855 cardinal the week prior. Continuing claims are hovering adjacent a three-year high.

Additional data released Thursday greeting showed announced occupation cuts soared successful February to 172,017, their highest monthly level since July 2020, per occupation placement steadfast Challenger, Gray & Christmas. This marked a 245% summation successful layoff announcements from the period prior. The steadfast noted cuts from the Department of Government Efficiency (DOGE) and "retail woes" drove the summation successful occupation eliminations.
Macy's banal drops 3% premarket connected cautious outlook

Macy's (M) banal fell 3% premarket aft the iconic retailer missed expectations for 4th fourth same-store income maturation and issued cautious guidance.

Several different retailers forecast weaker outlooks this week, arsenic executives broadly spot tariffs arsenic having an interaction connected sales. But it comes astatine a captious constituent for Macy's, which has been attempting a turnaround.

Yahoo Finance's Brooke DiPalma reports:

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German bonds widen worst driblet since 1990 arsenic sell-off spreads worldwide

German bonds are selling disconnected again arsenic investors respond to the country's historical determination to ramp up spending connected defence arsenic the US pulls its subject enactment successful Europe. The rout echoed done indebtedness markets worldwide, pulling down prices.

Bloomberg reports:

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Alibaba banal gains arsenic caller Chinese AI tools spur buying

Alibaba shares are rising successful premarket, up astir 3%, pursuing a surge for the banal successful Asia arsenic section tech names got a boost from the accomplishment of respective caller AI models.

The moves travel aft China-based DeepSeek sent ripples done Silicon Valley with its bombshell merchandise of a perchance lower-cost AI chatbot rival to ChatGPT.

Bloomberg reports:

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Trending tickers successful after-hours commercialized connected Wednesday

Marvell (MRVL)

S successful AI circuitry institution Marvell Technology tumbled 15% aft the doorbell connected Wednesday. This is contempt beating gross and net expectations successful each 4 of the erstwhile quarters. The autumn shows investors' request for ever-higher maturation from AI businesses.

Zscaler (ZS)

Data cybersecurity institution Zscaler saw a 5% leap successful shares successful after-hours trade. The institution amazed by trouncing gross and net expectations by implicit 10%.

MongoDB (MDB)

MongoDB shares saw the ire of disappointed traders. Despite posting affirmative gross and net the institution failed to bushed Wall Streets expectations. Shares successful the cloud-based database specializer dived 16% post-market close.
Alibaba banal leaps connected DeepSeek rival reveal

Alibaba Group Holding Ltd.'s (BABA) banal soared with the largest single-day leap successful weeks aft the institution revealed a exemplary that it claims provides DeepSeek-level show portion requiring acold little data.

Bloomberg reports:

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