U.S. Stock Market Summary for Thursday, March 13, 2025


Major Indices

  • S&P 500: -1.39% → 5,521.52
  • Dow Jones: -1.30% → 40,813.57
  • Nasdaq 100: -1.89% → 19,225.48
  • Russell 2000: -1.62% → 1,993.69

Market Overview

U.S. stocks fell sharply Thursday, pushing major indices into correction territory. The drop was triggered by President Trump’s announcement of a 200% tariff on European wine and spirits, escalating global trade tensions. Despite positive economic reports—including steady PPI and lower jobless claims—market sentiment remained negative.

Gold surged to a record $2,985 per troy ounce as investors sought safe-haven assets.

The S&P 500 is now more than 10% below its all-time high set in February, reflecting increasing investor anxiety around prolonged trade disputes.

Sector Highlights

Technology

  • Adobe: -14.4% on weak outlook
  • Super Micro Computer: -7.1%
  • Intel: +14.2% after naming Lip-Bu Tan as new CEO

Consumer Staples

  • Dollar General: +6.1%
  • Dollar Tree: +5.8%
    → Discount retailers rose as consumer confidence shifted toward affordability

Materials

  • Newmont: +4.8% on gold price surge

Economic Snapshot

  • 10-Year Treasury Yield: ↓ 5 bps → 4.26%
  • Producer Price Index (PPI): Flat for February (7-month low)
  • Unemployment Claims: Decreased from prior week
  • Core PCE (forecast): Expected to rise 0.4% (↑ from January’s 0.3%)

Despite disinflationary signals, key PCE components—like hospital services and asset management—remain firm, suggesting continued inflation pressure.

Expert Commentary

  • Adam Turnquist (LPL Financial)
    “Tariff uncertainty is fueling selling pressure and raising growth concerns.”

  • Libby Cantrill (PIMCO)
    “The impact of Trump’s second-term policies will depend on sequence and scale—risks remain two-sided.”

  • Chris Zaccarelli (NorthEnd Asset Management)
    “2025 will be a volatile year. Whether this leads to recession or higher growth is yet to be seen.”

  • Michael Purves (Tallbacken Capital Advisors)
    “Several technical breakdowns resemble Q1 2022. Macro risk is high, and signals carry more weight now.”

Sentiment

  • AAII Bull-Bear Ratio: Fell to 0.3, the lowest since September 2022
    → Comparable to post-2009 financial crisis levels, often associated with market bottoms

Other Developments

  • Apple (AAPL) rumored to add real-time translation to AirPods in upcoming iOS update
  • IonQ (IONQ) targeted by Kerrisdale’s short report
  • Rubrik (RBRK) earnings report beat expectations

Conclusion

Thursday’s steep decline highlighted the market’s sensitivity to geopolitical risks, especially unpredictable trade policies. Despite some resilient sectors, the broader tone remains cautious. With the S&P 500 now in correction, all eyes turn to trade negotiations, inflation metrics, and Fed guidance for market direction in the weeks ahead.

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