Stock market today: Nasdaq enters correction, S&P 500 sinks to lowest since November as stocks get clobbered on Trump tariff whiplash

^GSPC YMT=F ^IXIC

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  Broadcom banal rallies aft better-than-expected forecast

  Broadcom (AVGO) shares rallied astir 10% successful post-market trading aft the institution posted amended than expected fiscal results for the anterior 4th and guided for stronger income than Wall Street expected successful the existent quarter.

  Broadcom posted gross of $14.92 cardinal successful the archetypal 4th connected adjusted net per stock of $1.60. Wall Street had expected gross $14.61 cardinal connected net per stock of $1.50. For the 2nd quarter, Broadcom expects gross of $14.9 cardinal supra expert expectations for $14.59 billion.

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  Gap tops 4th fourth estimates and signals it could bushed Trump tariffs

  Yahoo Finance's Brian Sozzi reports:

  Gap (GAP) whitethorn beryllium the lone retailer this outpouring to basal up to the dual headwinds of a tariff-wielding president and a prickly Mother Nature.

  The institution connected Thursday bucked the inclination of disfigured retailer net this week, beating nett estimates and signaling a respectable twelvemonth ahead. Gap's afloat twelvemonth outlook was mostly successful enactment to statement forecasts contempt tariffs interaction successful the cardinal sourcing portion of China.

  "Looking ahead, 2025 represents an breathtaking measurement successful our ongoing translation arsenic we proceed to thrust toward becoming a precocious performing location of iconic American brands that delivers semipermanent worth for our shareholders," Gap CEO Richard Dickson said successful a statement.

  Gap shares roseate astir 8% successful post-market trading. Read much here.

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  The Nasdaq has entered a correction

  The Nasdaq Composite (^IXIC) is present down much than 10% from its astir caller grounds precocious successful December and has entered correction.

  As the illustration beneath shows, the determination little has been swift. After warring done smaller blips to commencement the twelvemonth arsenic concerns grew implicit the Big Tech's AI ascendant theme, fears astir tariffs and US economical maturation person tanked the tech-heavy index.

  With a captious jobs study acceptable for merchandise tomorrow, immoderate person argued markets are astatine a important pivot point.

  Citi caput of US equity trading strategy Stuart Kaiser told Yahoo Finance that Friday's jobs study is simply a "pretty important hazard to the market."

  "A bully jobs people helps, but it's astir apt not capable to benignant things out," Kaiser said. "And if you got a anemic print, let's accidental beneath 125,000 jobs [added], oregon successful particular, if the unemployment complaint rose, I deliberation you would person a beauteous large pullback successful US equities successful effect to that."

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  Trump delays immoderate Mexico, Canada tariffs: Report

  President Trump signed an enactment connected Thursday adjusting tariffs connected Mexico and Canada, according to reports.

  Goods that are compliant with the United States-Mexico-Canada-Agreement volition not beryllium tariffed for now. Those that are not compliant volition look 25% tariffs. A White House authoritative said astir 50% of Mexican imports and 62% of Canadian imports are not compliant, per a station from CNBC's Megan Cassella connected X.

• Tesla banal sinks 6% aft Baird cuts terms target, citing Musk's authorities role

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  Bessent: 'I americium not disquieted astir inflation' from Trump’s tariffs

  Yahoo Finance's Jennifer Schonberger reports:

  Read much here.

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  Wild swings successful S&P 500 reminiscent of the market's past 'growth scare'

  The S&P 500 (^GSPC) has present swung much than 2% successful six consecutive sessions.

  Per information from Yahoo Finance's Jared Blikre, this is the longest agelong with specified ample intraday question successful the benchmark scale since August 2024. Notably, that's besides the past clip the marketplace communicative centered astir a "growth scare" wherever investors grew acrophobic astir the trajectory of the US economy.

  SNP - Delayed Quote • USD

  Prior to that, the S&P 500 hadn't seen specified ample intraday moves since determination banking concerns dominated the banal marketplace successful March 2023.

  This is to accidental that if things successful the marketplace look much chaotic than they were implicit the past fewer months, erstwhile the S&P 500 deed its astir caller grounds high, the information shows that's surely true. But arsenic the past 2 volatility bouts of this standard showed, not each scare means the bull marketplace is coming to an end.

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  DOGE occupation cuts are appearing successful some, but not all, labour marketplace data

  The aboriginal interaction of occupation cuts from Elon Musk's Department of Government Efficiency (DOGE) is appearing successful immoderate labour marketplace numbers.

  On Thursday, information from job placement steadfast Challenger, Gray & Christmas showed occupation cuts soared successful February to 172,017, their highest monthly level since July 2020. This marked a 245% summation successful layoff announcements from the period prior. The steadfast noted cuts from DOGE and "retail woes" drove the summation successful occupation eliminations.

  "With the interaction of the Department of Government Efficiency [DOGE] actions, arsenic good arsenic canceled Government contracts, fearfulness of commercialized wars, and bankruptcies, occupation cuts soared successful February," said Andrew Challenger, elder vice president and workplace adept for Challenger, Gray & Christmas.

  Separate information from the Department of Labor, besides released Thursday, showed 1,510 play unemployment claims were filed successful the District of Columbia successful the week ending March 1, down from 1,893 but inactive importantly elevated compared to information implicit the past year.

  Read much here.

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  Markets descend to league lows aft nary notation of Canada successful announcement of much tariff exemptions

  The markets sank backmost toward league lows connected Thursday aft President Trump announced that tariffs connected goods and services from Mexico that autumn nether the US-Mexico-Canada commercialized statement (USMCA) would beryllium delayed until April 2.

  However, the president did not accidental the aforesaid astir Canada.

  "After speaking with President Claudia Sheinbaum of Mexico, I person agreed that Mexico volition not beryllium required to wage Tariffs connected thing that falls nether the USMCA Agreement. This Agreement is until April 2nd," Trump wrote connected Truth Social.

  "I did this arsenic an accommodation, and retired of respect for, President Sheinbaum," helium added.

  SNP - Delayed Quote • USD

  ^GSPC ^IXIC ^DJI

  The omission of Canada appears to person spooked the markets. The Dow Jones Industrial Average (^DJI) fell much than 1% portion the S&P 500 (^GSPC) dropped 1.8%. The tech-heavy Nasdaq Composite (^IXIC) mislaid much than 2%.

  Earlier connected Thursday, Trump wrote, "Believe it oregon not, contempt the unspeakable occupation he’s done for Canada, I deliberation that Justin Trudeau is utilizing the Tariff problem, which helium has mostly caused, successful bid to tally again for Prime Minister. So overmuch amusive to watch!"

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  Chip stocks autumn arsenic capitalist fears implicit AI request proceed to weigh

  Yahoo Finance's Laura Bratton reports:

  Nvidia (NVDA) banal fell arsenic overmuch arsenic 2.6% aboriginal Thursday, starring different chipmakers down arsenic fears implicit AI request continued to measurement connected the sector.

  Read more here.

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  What does Nvidia banal illustration accidental arsenic sell-off continues?

  Yahoo Finance's Brian Sozzi reports:

  Read more here.

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  Lutnick says that goods and services compliant with USMCA whitethorn person one-month tariff reprieve

  Commerce Secretary Howard Lutnick hinted that goods and services that are compliant with the United States-Mexico-Canada Agreement (USMCA) are apt to beryllium omitted for 1 period from the 25% tariffs implemented against Mexico and Canada earlier this week.

  “The reprieve is for 1 month," Lutnick said successful an interrogation with CNBC.

  “It’s apt that it volition screen each USMCA compliant goods and services, truthful that which is portion of President Trump’s woody with Canada and Mexico are apt to get an exemption from these tariffs,” Lutnick said.

  The large averages pared losses pursuing Lutnick's comments.

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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.

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  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:

  Read much here.

• 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:

  Read much here.

• 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:

  Read much here.

• 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:

  Read much here.