DAILY UPDATE: DJIA Plummets 1,700 Points While NASDAQ & S&P 500 Plunge for Biggest Drop Since 2025

Posted on April 4, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

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Roughly $2.5 trillion was erased from the S&P 500 Index on Thursday amid worries that President Donald Trump’s sweeping new round of tariffs could plunge the economy into a recession. The damage was heaviest in companies whose supply chains are most dependent on overseas manufacturing. Apple Inc., which makes the majority of its US-sold devices in China, fell 9.3%. Lululemon Athletica Inc. and Nike Inc., among companies with manufacturing ties to Vietnam, were both down more than 9%. Target Corp. and Dollar Tree Inc., retailers whose stores are filled with products sourced outside of the US, dropped more than 10%.

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The tech-heavy NASDAQ Composite (^IXIC) led the sell-off, plummeting 6%. The S&P 500 (^GSPC) sank nearly 5%, while the Dow Jones Industrial Average (^DJI) tumbled 4%. The Dow’s 1,700-point drop was the fifth-worst in its history.

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Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Weak Sock Markets Following a Good Week

Posted on March 23, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Investors slowed their roll yesterday but the Dow still pulled off its best week of the year. Lululemon reported a disappointing forecast and slowing US sales growth. The athleisure company suffered its worst day since March 2020.

Here’s where the major benchmarks ended:

  • The S&P 500 index sank 7.35 points (0.1%) to 5,234.18, up 2.3% for the week; the Dow Jones Industrial Average dropped 305.47 points (0.8%) to 39,475.90, up 2% for the week; the NASDAQ Composite rose 26.98 points (0.2%) to 16,428.82, up 2.9% for the week. 
  • The 10-year Treasury note yield dipped five basis points to 4.22%, down nearly nine basis points for the week.
  • The CBOE Volatility Index edged up 0.14 to 13.06, falling 1.34 points for the week.

Utilities, information technology, and communication services were among the strongest sectors. Real estate and financials saw relative weakness Friday.

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DAILY UPDATE: The US Economy and Bureau of Labor Statistics Reports

Posted on June 4, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The US kept adding jobs according to new data from the Bureau of Labor Statistics. The economy gained 339,000 pay-rolled employees in May, more than in each of the preceding three months and way more than the 190,000 Dow Jones predicted (to be fair, expert estimates low-balled 13 of the last 16 job reports, according to CNBC. This growth happened despite climbing interest rates, inflation, recent bank failures, and a nerve-racking debt ceiling standoff that threatened to destroy the economy And, Wall Street interpreted the data as a big green “buy” sign. For example:

Stocks leaped up last week as investors celebrated the deal to lift the debt ceiling being showed that the economy is still going strong. In fact, Lululemon stretched toward the heavens after beating earnings expectations thanks to a 24% year over year jump in sales.

But not all indications pointed to the hot streak continuing indefinitely.

The unemployment rate inched, wage growth slowed, and workers appear less self-assured in the labor market:

  • The self-employed lost 369,000 people from its ranks in May, a possible sign that folks might be ditching the self-employment for the security of a traditional employer.
  • And, recent data shows the quit rate has declined from an all-time high in late 2021, bringing an end to the pandemic job-hopping trend dubbed the Great Resignation.
  • Ultimately, the Fed will have to use the conflicting and mixed economic indicators to decide whether to further crank up interest rates at their next meeting. The Federal Reserve has been hinting that it might cease raising interest rates, and investors seem convinced the central bank will follow through and at least “skip” a hike this month even though the labor market is still radiating heat.

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