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📰 Market Recap: April 10, 2025 - newworldtrending

2025-04-11 03:26:27 By John Carter

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Dow plunges 1,000 points. Nasdaq drops 4%. Big chunk of Wednesday's rally erased.

📉 Major Indexes

  • Dow Jones: -2.5% (↓ 1,000+ pts)

  • S&P 500: -3.5%

  • Nasdaq Composite: -4.3%

What happened?
Markets gave back a huge portion of Wednesday’s historic rally, which was sparked by President Trump’s 90-day pause on new tariffs. But fresh concerns about the economy, trade uncertainty, and tech valuations dragged stocks sharply lower.

🔁 From Euphoria to Caution

  • Wednesday’s Surge: S&P jumped 9.5% (best since 2008), Nasdaq +12.2%, Dow +7.9%

  • Why the Drop Thursday?

    • Tariff uncertainty remains: The 10% base rate stays, and China faces a 145% levy.

    • Volatility and profit-taking after a short-covering fueled rebound.

    • Bond yields spiked again, with the 10-year Treasury yield jumping to 4.44%.

💥 Biggest Losers

🧠 Tech Bloodbath

  • Tesla (TSLA): -7% (after +23% Wednesday)

  • Nvidia (NVDA), Broadcom (AVGO): -6% to -7%

  • Meta, Amazon, Apple, Alphabet: -4% to -7%

  • Microsoft: -2%

  • Chip Sector:

    • Microchip (MCHP), Marvell (MRVL): -13%

    • Micron (MU), On Semi (ON): -10%+

✈️ Airlines Hit Hard

  • American, Delta, United: -11% to -14%
    (Concerns about long-term demand destruction from trade wars.)

👟 Consumer Stocks

  • Nike (NKE): -8% (Tariff exposure)

💸 Crypto-Related Stocks

  • MicroStrategy (MSTR): -8%

  • Coinbase (COIN), Robinhood (HOOD): -4%

  • Bitcoin: Down to ~$79,700 from ~$83,600

🛢️ Oil & Energy

  • Exxon (XOM): -6%, Chevron (CVX): -8%

    • Oil fell to $60.24/barrel (↓3.4%)

🟢 Bright Spots

🪙 Gold Surges

  • Gold hits record high: $3,194.20/oz (↑3.7%)

  • Miners up:

    • Newmont (NEM): +4.5%

    • Barrick (GOLD): +3%

    • Gold Fields (GFI): +8%

🛒 Retail Defensive Plays

  • Kroger (KR): +3.1%

    • Said tariffs would have limited impact thanks to supply diversification.

💹 Trading Platforms

  • MarketAxess (MKTX): +3.5%

    • Upgraded by Morgan Stanley. Seen as beneficiary of rising bond volatility.

🧠 Analyst Commentary

  • Comerica Bank: “Wednesday's rally was short-covering, not conviction.”

  • NatAlliance: “Tariff uncertainty is still huge. Pandora’s box is open.”

📈 Despite the Drop… It's Still a Green Week

  • Dow: +3.3% this week

  • S&P 500: +3.8%

  • Nasdaq: +5.1%
    Indexes are still set to break two-week losing streaks.

🛫 Airlines & Deglobalization Worries

  • Analysts fear “demand destruction” for air travel.

  • International travel to the U.S. already down:

    • Canada & Mexico: ↓25%

    • Worldwide: ↓10%

  • Delta CEO: “We’re pausing growth plans and deferring deliveries.”

🔎 Key Stocks to Watch

  • Apple (AAPL): -6%, after biggest gain since 1998 on Wednesday.

    • Still facing 125% Chinese tariff.

  • Tesla (TSLA): Technical chart shows a potential double bottom, RSI divergence. Support: ~$225

  • QQQ (Nasdaq 100 ETF):

    • Watching support at $448 and $402

    • Resistance at $503 and $540

    • Still down ~13% YTD

🇺🇸 Political Headlines

  • U.S. Steel (X): -7%

    • Trump opposes foreign (Japanese) ownership.

    • Deal review underway after Biden previously blocked it.

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