Stock market today: Nasdaq leads stocks lower as Nvidia falls with GTC event underway

Tuesday's banal marketplace sell-off had a acquainted spirit to the marketplace enactment seen truthful acold this year.

Six of the "Magnificent Seven" stocks \ — shares of Nvidia (NVDA), Tesla (TSLA), Alphabet (GOOG, GOOGL), Amazon (AMZN), Meta (META), and Microsoft (MSFT) — were each underperforming the S&P 500's (^GSPC) astir 1% decline. The disparity marked the continuation of a inclination seen passim 2025. After 2 years of starring stocks' rallies, the market's largest exertion companies are present starring the large indexes lower. With conscionable 2 weeks near successful the quarter, the Magnificent Seven are tracking for the worst show against the S&P 500 since the 4th fourth of 2022.

Read much connected however the Magnificent Seven stocks are dragging down the large banal indexes here.

It's been a unsmooth respective months for Apple (AAPL) stock.

Shares of the iPhone shaper person fallen astir 18% since reaching their all-time precocious closing terms of $259 connected Dec. 26. That's equated to a nonaccomplishment of much than $700 cardinal successful Apple's marketplace cap.

Yahoo Finance's Laura Bratton reports that investors person been scrutinizing the institution amid a broader banal marketplace downturn for Big Tech stocks arsenic good arsenic Apple's ain peculiar setbacks.

Here's a look astatine immoderate of the headwinds Apple is facing, per Bratton:

Read much here.

General Motors (GM) is partnering with Nvidia (NVDA) to physique its ain self-driving cars.

"The clip for autonomous vehicles has arrived," Nvidia CEO Jensen Huang revealed Tuesday astatine the company's yearly GTC lawsuit successful California.

"We're looking guardant to gathering with GM AI successful each 3 areas: AI for manufacturing truthful they tin revolutionize the mode they manufacture; AI for endeavor truthful they tin revolutionize the mode they work, plan cars, and simulate cars; and past besides AI for successful the car," the enforcement said.

Shortly pursuing the announcement, shares of GM fell implicit 1% portion Nvidia dropped astir 3%.

Read much astir the announcement from Yahoo Finance's autos newsman here.

Nvidia (NVDA) shares fell astir 1%, recovering from steeper losses, arsenic CEO Jensen Huang took the signifier to present a keynote code astatine the company's yearly GTC lawsuit successful California.

"Artificial quality has made bonzer progress," Huang said astatine the commencement of his speech. "It has lone been 10 years now. We've been talking astir AI for a small longer than that, but it truly came into the world's consciousness astir a decennary ago."

The enforcement added that "every azygous twelvemonth much radical travel [to GTC] due to the fact that AI is capable to lick much absorbing problems for much industries and much companies. And this twelvemonth we're going to speech a batch astir agentic AI and carnal AI astatine its core, what enables each question and each signifier of AI."

Some connected Wall Street person categorized imaginable AI announcements and Nvidia broadly arsenic a bellwether for the market. At the event, investors expect to perceive much details astir the debut of the company's Blackwell Ultra AI chip, on with its next-generation GPU platform.

Geopolitics person been apical of caput for investors arsenic fears implicit an economical slowdown propulsion immoderate traders to dump their equity allocations successful favour of much risk-off trades.

Gold prices (GC=F) deed a grounds precocious Tuesday aft Israeli airstrikes connected Gaza escalated tensions successful the Middle East. The metallic traded supra $3,030 an ounce, gathering connected a 5% summation successful the past period arsenic investors turned distant from US stocks.

Crude lipid prices (CL=F) fell to astir $67.25 a tube aft initially rising this greeting amid those worries. Eyes were besides connected Trump's telephone with President Putin to negociate a Russia-Ukraine truce and Germany's historical parliamentary ballot connected a monolithic boost to authorities spending.

Brent (BZ=F), the planetary benchmark, besides moved somewhat little connected Tuesday, but remained supra $70 a tube successful day trade.

Over the past month, some WTI crude and Brent lipid prices person fallen astir 5% arsenic retaliatory tariffs, on with reports that OPEC+, a radical of large lipid producers, volition hike lipid production, weighing connected the longer-term outlook.

Tesla (TSLA) banal extended declines connected Tuesday, falling astir 6% successful mid-morning commercialized aft Chinese EV rival BYD (BYDDY, 1211.HK) said its caller charging strategy tin reportedly complaint a conveyance astir arsenic accelerated arsenic it takes to refuel a gas-powered car.

The automaker plans to rotation retired vehicles with this diagnostic arsenic soon arsenic adjacent month.

Separately, RBC expert Tom Narayan slashed his terms people connected Tesla to $320 a share, down from the anterior $440. Narayan cited little estimates for the pricing of its afloat self-driving exertion and robotaxi penetration.

Tesla was the biggest laggard of the "Magnificent Seven" stocks, which besides see Nvidia (NVDA), Microsoft (MSFT), Apple (AAPL), Amazon (AMZN), Alphabet (GOOGL, GOOG), and Meta (META).

Overall, the Magnificent Seven names are having their worst 4th successful much than 2 years.

Sarepta Therapeutics banal (SRPT) plunged implicit 22% successful aboriginal trading pursuing quality that a diligent died portion taking the company's cistron therapy Elevidys.

In a statement, Sarepta said the diligent died of acute liver failure, a known broadside effect of the attraction for Duchenne muscular dystrophy, a uncommon familial disorder. It's the archetypal decease associated with the therapy since the attraction received expedited FDA support successful the US successful 2023.

Read much here.

As markets effort to retrieve from caller sell-off enactment that's near the S&P 500 (^GSPC) and Nasdaq (^IXIC) successful correction territory, 1 large catalyst this week could marque oregon interruption a comeback: Wednesday's Federal Reserve argumentation decision.

The cardinal slope is expected to clasp involvement rates dependable successful the look of tariff uncertainties and caller maturation concerns.

But the simultaneous merchandise of the Fed's quarterly forecasts, different known arsenic the Summary of Economic Projections (SEP), on with Fed Chair Jerome Powell's post-decision property conference, volition beryllium astatine the halfway of capitalist unpacking.

"Powell post-FOMC volition person to reassure markets maturation remains steadfast and inflation's trajectory inactive points to 2% arsenic assurance is wavering amid stagflation worries, oregon outright recession fears," Evercore ISI's Julian Emanuel wrote successful a enactment to clients connected Sunday.

A bleak economical script successful which maturation stalls, ostentation persists, and unemployment rises, stagflation has go the latest buzzword successful fiscal markets arsenic investors effort to recognize the administration's shifting commercialized communicative and different argumentation unknowns, including caller efforts to chopped authorities jobs from Elon Musk's Department of Government Efficiency (DOGE).

In a planetary survey of 171 participants, Bank of America's latest Global Fund Manager Survey, released Tuesday, showed 71% of surveyed investors expect stagflation, the highest level since November 2023.

"With regards to maturation (the 'stag' portion of stagflation), Powell volition request to reconfirm his precocious articulated certainty that the 'hard' information remains supportive, adjacent arsenic the 'soft' information is weak," Emanuel wrote.

"On the 'flation' portion of stagflation, Powell indispensable bespeak ostentation remains connected its way to 2%, adjacent amidst imaginable near-term hurdles."

Read much here.

Nvidia banal (NVDA) fell 3% astatine the marketplace unfastened connected Tuesday up of the AI giant's GTC event, with CEO Jensen Huang acceptable to present a keynote code astatine 1 p.m. ET.

And which mode Nvidia shares propulsion could person an outsized effect connected the banal market's direction, according to a seasoned marketplace technician.

"The near-term aboriginal of this market, for deficiency of a amended term, is dictated by what's going connected astatine Nvidia and truly successful semiconductors and exertion writ large, conscionable by virtuousness of their size and by virtuousness of their importance," Evercore method strategist Rich Ross told Yahoo Finance's Brian Sozzi connected the Opening Bid podcast.

Brian Sozzi adds:

Read much here.

US stocks dropped crossed the committee connected Tuesday, reversing 2 days of gains arsenic investors looked to the Federal Reserve's two-day argumentation meeting, which kicks disconnected Tuesday.

The Dow Jones Industrial Average (^DJI) and S&P 500 (^GSPC) fell astir 0.2% and 0.4%, respectively. The tech-heavy Nasdaq Composite (^IXIC) sank 0.8% lower.

Residential operation roseate successful February arsenic builders broke crushed connected much projects.

New lodging starts roseate 11.2% from the erstwhile period to a seasonally adjusted yearly gait of 1.501 cardinal units, according to information from the Census Bureau released Tuesday. That bushed estimates from economists surveyed by Bloomberg, who expected an annualized 1.385 cardinal pace. Single-family lodging starts grew 11.4% astatine a seasonally adjusted yearly gait of 1.108 million.

The information comes arsenic owe rates person been trending downward and precocious deed a three-month low. However, that hasn’t motivated buyers to instrumentality action. Mortgage applications to acquisition caller homes fell astir 7% successful February compared to a twelvemonth ago, according to Mortgage Bankers Association (MBA) data.

Meanwhile, much builders are increasing wary of the lodging market, President Trump’s shifting tariff policies, and the ongoing situation of precocious lodging costs.

Last week, Trump imposed a 25% tariff connected each imported alloy and aluminum products, without exemptions a determination that could propulsion lodging costs adjacent higher.

“Data from the HMI March survey reveals that builders estimation a emblematic outgo effect from caller tariff actions astatine $9,200 per home. Uncertainty connected argumentation is besides having a antagonistic interaction connected location buyers and improvement decisions," NAHB main economist Robert Dietz said connected Monday.

Investors' uber-bullish sentiment for US stocks came to a screeching halt implicit the past month.

In a planetary survey of 171 participants, Bank of America's latest Global Fund Manager Survey showed the biggest driblet successful capitalist allocation to US equities connected record.

A squad of Bank of America strategists led by Michael Hartnett described the determination successful the March survey arsenic a "bull crash" with capitalist appetite for US stocks tumbling amid the 10% drawdown successful the S&P 500 (^GSPC) implicit the past month.

The swift quality of the correction successful the S&P 500, could beryllium seen arsenic a bargain sign. But arsenic Hartnett's squad points out, the caller marketplace moves are much a flushing retired of uber-bullishness alternatively than an evident catalyst for a contrarian trade.

Hartnett wrote the existent sentiment levels are obscurity adjacent "close-your-eyes-and-buy levels."

And arsenic Wall Street strategists person pointed retired recently, portion of the crushed it mightiness not beryllium an evident buy-the-dip infinitesimal has to bash with what sent stocks little successful the archetypal place.

A illustration successful BofA's survey shows that 55% judge the biggest hazard to markets is "trade warfare triggers planetary recession." This marked the highest condemnation successful a hazard since the pandemic topped the database successful April 2020.

But contempt a astir 3% popular successful stocks implicit the past 2 sessions, not overmuch has changed successful the commercialized warfare oregon maturation scare communicative implicit the past week.

Morgan Stanley main concern serviceman Mike Wilson told clients connected Sunday that "a tradable rally" is imaginable successful markets. But Wilson doesn't spot a sustainable rally to caller grounds highs "until the galore maturation headwinds are reversed" oregon the Fed resumes involvement complaint cuts.

The Financial Times reported that Alphabet (GOOG, GOOGL) has agreed to bargain cybersecurity startup Wiz for $32 billion, with much details expected to travel aboriginal today, according to radical acquainted with the matter.

If the connection holds, the terms tag would marque the imaginable buyout Google's largest acquisition yet, per Reuters.

Google and the Israel-based information startup antecedently were successful talks for a deal, but Wiz called them disconnected successful 2024 owed to antitrust hurdles. The revival of the woody coincides with a booming cybersecurity marketplace arsenic a CrowdStrike outage past twelvemonth heightened concerns implicit locking down integer infrastructure.

Wiz makes artificial intelligence-powered information bundle that helps companies place and region risks connected the cloud.

Silver futures (SI=F) continued to stack up gains connected Tuesday, connected way to emergence implicit 19% successful a twelvemonth arsenic the marketplace comes nether unit from Trump's tariffs.

While supplies of the metallic are inactive flowing into New York, traders are acrophobic they could adust up. About 70% of US imports of metallic travel from Mexico and Canada, the biggest targets of the US commercialized offensive.

Bloomberg reports:

Read much here.

XPeng banal (XPEV) fell much than 1% premarket contempt the Chinese electrical conveyance shaper forecasting better-than-expected gross for the archetypal quarter. XPeng expects to present betwixt 91,000 and 93,000 vehicles successful the archetypal 4th by enticing buyers with lower-priced G6 and G9 SUV models and expanding successful Europe.

In different EV news, Xiaomi's (XIACY, XIACF) Q4 gross jumped and the EV shaper raised its outlook for deliveries successful 2025 to 350,000. BYD (BYDDY) banal besides got a boost Monday connected quality of the company's improved artillery charging system, which the automaker said is susceptible of providing astir 249 miles of scope successful 5 minutes.

Tesla (TSLA) banal continued its descent premarket, falling 3%, arsenic the US automaker battles heated contention successful China and capitalist concerns implicit Elon Musk's relation successful government.

Crude lipid futures were rallying for a 3rd time successful a enactment connected Tuesday aft Israeli subject strikes connected Gaza heightened tensions successful the Middle East.

Brent futures (BZ=F), the planetary benchmark, roseate 1.1% to apical $71 a barrel, portion US benchmark West Texas Intermediate futures (CL=F) enactment connected 1.3% to commercialized supra $68.

The overnight airstrikes by Israel enactment paid to a astir two-month ceasefire with Hamas. They besides added to Middle East risks already successful play aft US assaults connected an Iran-backed Houthi radical down attacks successful the Red Sea.

The deed to planetary crude proviso arsenic the US clamps down connected Iran “could scope successful the bid of 1 cardinal barrels a day, offsetting gains from OPEC arsenic it phases retired voluntary accumulation cuts,” ANZ Group Holdings analysts Brian Martin and Daniel Hynes said, according to Bloomberg.

While lipid is trading adjacent its highest levels successful March, prices are inactive headed for a quarterly nonaccomplishment arsenic concerns astir the interaction of US tariffs connected planetary economical maturation and demand.

Gold (GC=F) continues to hover astir the $3000 all-time high. Haven request continues to beryllium pushed worldwide arsenic marketplace volatility rattles investors.

Bloomberg reports:

Read much here.