Stock Market News For Apr 4, 2025

U.S. stock markets routed on Thursday following Trump’s “Liberation Day” tariffs. Major benchmarks recorded their worst single-day performance since early 2020, at the advent of the coronavirus. Market participants are seriously fearing a near-term recession of the U.S. economy. Economic data were also mixed. How Did The Benchmarks Perform?The Dow Jones Industrial Average (DJI) collapsed 4% or 1,679.39 points to close at 40,545.93. The blue-chip index recorded its worst single-day performance since June 2020. Notably, 23 components of the 30-stock index ended in negative territory and 7 finished in positive zone. The major loser of the index was NIKE Inc. NKE. The stock price of the sport retail behemoth plunged 14.4%. NIKE currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The tech-heavy Nasdaq Composite finished at 16,550.61, decimating 6% or 1,050.44 points due to the rout of technology bigwigs. The tech-laden index registered its worst single-day performance since March 2020. Nasdaq Composite is currently in correction territory. The S&P 500 plummeted 4.8% or 274.45 points to finish at 5,396.52. Wall Street’s most observed benchmark posted its worst single-day performance since Jun 16, 2020. 10 out of 11 broad sectors of the broad-market index ended in negative territory and one in positive zone. The Consumer Discretionary Select Sector SPDR (XLY), the Technology Select Sector SPDR (XLK) and the Energy Select Sector SPDR (XLE) tumbled 6%., 6.8% and 7.9%, respectively. The fear-gauge CBOE Volatility Index (VIX) surged 39.6% to 30.02, marking its highest closing level since Aug 5, 2024. Wall Street Collapse on Trump’s TariffsWall Street routed following the imposition of “Liberation Day” tariffs by President Donald Trump. The baseline tariff of 10% will be imposed on all imports from Apr 5. But the important thing is that tariff rates will go up to as high as 54% on countries depending on what rate those governments will levy duties on U.S. exports.Economists and financial experts are highly concerned about effect of these tariffs on U.S. economic growth, especially on inflation, which is already elevated and remained sticky despite 1% cut in the benchmark interest rate by the Fed last year. Market participants are fearing a near-term recession and in worst case a stagflation in the U.S. economy.Economic DataThe Department of Labor reported that initial claims remained unchanged at 219,000 for the week ended Mar 29, missing the consensus estimate of 225,000. Previous week’s data was revised upward marginally from 224,000 to 225,000. Continuing claims (those who have already received government aids and reported a week behind) rose 56,000 to 1.903 million for the week ended Mar 22. The previous week's data was revised downward by 9,000 from 1.856 million to 1.847 million.The U.S. trade deficits for goods and services in February came in at $122.7 billion, lower than the consensus estimate of $123.4 billion. January’s data was revised downward to a deficit of $130.7 billion from $131.4 billion reported earlier. February’s exports were $278.5 billion, $8 billion more than January’s exports. February’s imports were $401.1 billion, $0.1 billion less than January’s imports. The Institute of Supply Management reported that services PMI (purchasing managers’ index) for March came in at 50.8%, missing the consensus estimate of 52.9% and February’s reading of 53.5%. The new orders index fell to 50.4% in March from 52.2% in February. The employment index was down to 46.2% in March from 53.9% in February. The price index dropped to 60.9% in March from 62.6% in February.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NIKE, Inc. (NKE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks