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Dow falls 350 points, S&P 500 heads for fifth-straight losing week: Live updates
CNBC ^ | March 21, 2025 | Sean Conlon, Hakyung Kim

Posted on 03/21/2025 7:01:45 AM PDT by lasereye

U.S. stocks fell Friday morning, putting the S&P 500 on pace to extend its monthlong rout caused by trade policy turmoil, recession fears and a rollover in megacap technology shares.

The S&P 500 fell 0.8%, while the Nasdaq Composite pulled back 1%. The Dow Jones Industrial Average dropped 321 points, or about 0.8%.

Friday’s session is likely to be volatile, with options set to expire and President Donald Trump’s April 2 tariff deadline looming over the market.

The S&P 500 is on pace for a 0.5% fall week to date, putting it on track for a five-week losing streak. The benchmark briefly fell into correction territory at one point during the monthlong rout. It sits more than 8% from its record high, short of the 10% correction level, as it tried to mount a comeback from the turmoil.

The bulk of the market’s gains came on Wednesday when Federal Reserve policymakers kept their forecast for two rate cuts this year.

Tariff worries are also weighing on companies, according to Michael Green, chief strategist at Simplify Asset Management.

“Companies are increasingly citing confusion and uncertainty around their planning and capital spending and hiring decisions — and when they pause, it means that they’re slowing down,” he said. “There’s an element of that playing out in the markets.”

FedEx was hurting sentiment, with shares of the bellwether transportation company down 11% in early trading Friday. FedEx cut its earnings outlook, citing “weakness and uncertainty in the U.S. industrial economy.”

Nike shares were off by 8% after the shoe and apparel giant said sales this quarter would miss analysts’ expectations because of tariffs and falling consumer confidence. The retailer’s comments were having knock-on effects within the sector, as shares of Foot Locker slipped more than 2% and rival Under Armour fell more than 1%.

The Dow is on track for a 1.1% gain this week, marking its best weekly performance since late January. The Nasdaq, however, is off about 0.4% in the period, heading for its fifth straight losing week and its longest stretch of weekly losses since May 2022.


TOPICS: Business/Economy; News/Current Events
KEYWORDS: stockmarket; trump; trumpeconomy
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FedEx's cut to their profit outlook is one of the things spooking the market today. It's the third straight quarter that they cut their profit outlook. Most of the stories don't mention that (like this one).
1 posted on 03/21/2025 7:01:45 AM PDT by lasereye
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To: lasereye

PE ratio is high compared to historical norms. Utterly unsurprising that we’re seeing prices fall. The way forward is to improve revenue and profitability.


2 posted on 03/21/2025 7:05:02 AM PDT by RKV (He who has the guns makes the rules)
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To: lasereye

Meh. My guess is a bunch of libs wetting their pants is a part of this.

Getting the tariffs right will cause some bumps. I’m ok with that.


3 posted on 03/21/2025 7:05:36 AM PDT by brownsfan (It's going to take real, serious, hard times to wake the American public.)
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To: lasereye

Up 7.2% over the last 12 months since it became clear Trump would win.


4 posted on 03/21/2025 7:08:32 AM PDT by Uncle Miltie (Islam’s Strategy is Effective: Out-breed and murder everyone else. What to do?)
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To: lasereye
Market weakness is entirely understandable, given the significant course corrections Trump must implement to get the country and economy back on track.

And just wait until DOGE releases the details about the fraud and corruption it is finding.

As Tim Burchett (R-TN) said the other day, before it's over, a lot of people are going to be in handcuffs (including Senators and Congressmen).

5 posted on 03/21/2025 7:10:33 AM PDT by RoosterRedux ("There's nothing so inert as a closed mind" )
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To: RoosterRedux

“[A] lot of people are going to be in handcuffs (including Senators and Congressmen).” From your lips to God’s ears.


6 posted on 03/21/2025 7:12:26 AM PDT by RKV (He who has the guns makes the rules)
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To: lasereye

Inflation is coming down and even Jerome Powell is going to feel the pressure to reduce interest rates a couple of times this year. Better times are ahead, I think.


7 posted on 03/21/2025 7:12:37 AM PDT by AnotherUnixGeek
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To: Uncle Miltie

Yep.....I consider this a buying opportunity


8 posted on 03/21/2025 7:13:16 AM PDT by V_TWIN (America...so great even the people that hate it refuse to leave!)
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To: lasereye

One of Trump’s biggest growth areas from his first term IMO is recognizing that markets going up are not always a positive signal and that there is value in taking some lumps there to right the real/main-street economy with reshoring, etc.


9 posted on 03/21/2025 7:13:48 AM PDT by 9YearLurker
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To: RKV

This is what Rep. Tim Burchett said, not me.


10 posted on 03/21/2025 7:14:13 AM PDT by RoosterRedux ("There's nothing so inert as a closed mind" )
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To: brownsfan
Getting ... tariffs right will cause some bumps. I’m ok with that.

Getting it right in the long run is the better choice. I'm OK with that too.

11 posted on 03/21/2025 7:14:47 AM PDT by GOPJ (It's cheaper to 'rent a mob' for a Town Hall than buy thugs to burn down cities. )
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To: RoosterRedux

“As Tim Burchett (R-TN) said the other day, before it’s over, a lot of people are going to be in handcuffs (including Senators and Congressmen).”

I really doubt that.


12 posted on 03/21/2025 7:14:53 AM PDT by brownsfan (It's going to take real, serious, hard times to wake the American public.)
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To: lasereye

I talked to a FedEx employee who went to high school with me. He works at headquarters. He didn’t seem very optimistic when I asked how the company was doing.


13 posted on 03/21/2025 7:16:41 AM PDT by packagingguy
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To: brownsfan

Agreed. I apply the “IBIWISI” approach to anything a politician says.


14 posted on 03/21/2025 7:16:49 AM PDT by woweeitsme
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To: brownsfan

I think the economy is slowing down.
Here is my personal experience in the suburbs of Nashua, NH.
Three restaurants on the main drag west of town have closed in the last few months.
Others that I drive by hardly have any cars in the parking lot.

So, TGI Fridays, Uno, Chipolte are all toast. Meanwhile the higher end restaurants in this area are packed. So, the people who can drop $150-200 on dinner have plenty of cash.
The people maxed out on the credit cards are getting pinched.

I also am shopping to put a new roof on my house. The one on there is 1997 vintage. I called four local companies. Each one got back to me within an hour or two to set up an estimate. They are all hungry for business.


15 posted on 03/21/2025 7:19:09 AM PDT by woodbutcher1963
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To: RKV

Id rather have this correction come week to week instead of a massive crash.


16 posted on 03/21/2025 7:20:52 AM PDT by MrRelevant
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To: MrRelevant

Corrections are common.

Better to have one in 2025 than 2028.


17 posted on 03/21/2025 7:24:07 AM PDT by Uncle Miltie (Islam’s Strategy is Effective: Out-breed and murder everyone else. What to do?)
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To: lasereye

Markets generally go up over time, regardless of a few dips here and there.

A sure way to boost markets in the short term?

Toss the tariff wars.

Boom!


18 posted on 03/21/2025 7:27:45 AM PDT by period end of story (Unvaxxed for my protection.)
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To: lasereye

CNBC is a rat propaganda channel masquerading as a financial network


19 posted on 03/21/2025 7:29:31 AM PDT by iamgalt
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To: RoosterRedux

“As Tim Burchett (R-TN) said the other day, before it’s over, a lot of people are going to be in handcuffs (including Senators and Congressmen).”

************

But remember, after all is said and done there’s a lot more said than done. Politicians are full of talk and empty promises.


20 posted on 03/21/2025 7:30:34 AM PDT by Starboard
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