Stock Market Crash Today: Nasdaq Drops Most Since 2022, $1T Wiped Out - Business Insider
S E E D E D C O N T E N T
Filip De Mott 2025-03-10
- The Nasdaq 100 fell 3.8% on Monday, its biggest decline since October 2022.
- The sell-off hit tech especially hard, with the Magnificent 7 cohort seeing deep losses.
- The Nasdaq wipeout alone accounted for more than $1 trillion of lost market value at lows.
US stocks had a terrible day on Monday. And no sector suffered more than tech.
The tech-heavy Nasdaq 100 saw among the deepest losses on the day, falling 3.8%, its largest single-day drawdown since October 2022. At intraday lows, with the index 4.7% lower, the amount of market value wiped out exceeded $1 trillion.
A flurry of headwinds has pulled the Nasdaq down into correction territory from a mid-February high: tariff-related uncertainty, eroding confidence in AI spending, and a slate of disappointing inflation and labor data.
Anxiety is rising that the US is rolling into a recession, especially after President Donald Trump refused to dismiss the possibility over the weekend.
The so-called "Magnificent 7" stocks — a group of popular AI names responsible for the recent bull market — were collectively crushed on Monday.
Tesla led the retreat, falling 15%, the most in a single day since September 2020. The automaker has been under particular pressure amid falling sales and concerns about CEO Elon Musk's commitment to the company.
Here are the Nasdaq 100's 10 worst performers on Monday:
- MicroStrategy: -16.7%
- Tesla: -15.4%
- AppLovin: -12%
- Microchip Technology: -10.6%
- Palantir: -10.1%
- Atlassian: -9.6%
- Dexcom: -9.2%
- Crowdstrike: -7.4%
- Arm Holdings: -7.3%
- Marvell Technology: -7.3%
Market anxiety wasn't limited to just equities.
With nerves rising over a possible downturn, Treasury yields declined. The benchmark 10-year rate hovered near its lowest level this year, indicating that investors are piling into the safe haven.
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It was "Bloody Monday" on Wall Street...
Oops!!!
Here are the Nasdaq 100's 10 worst performers on Monday:
While they're too expensive, I may be buying two of those on a further pullback (or better yet sell Puts on a significant pullback):
1. Palanteer
2. Crowdstrike. Cyber-security is a great sector. . But the problem is, IMO, its still much too expensive.
Tesla has been doing terribly. (In many countries people are demonstrating against Tesla-- not because of the product but rather they are so angry at Musk and his destructive craziness)
Also, many wise investors are reluctant to buymuch of anything, as Trump's tariffs and other bizarre moves hurt the whole economy-- and there's no way of predicitng what he (or Musk) will do next!
We may have hit the ugly momentum that eventually snowballs into a bear market. Fully unnecessary. Trump is an irresponsible buffoon.
If Trump does not back down from his tariff wet-dream and give the market confidence that he will not start this nonsense again, I see no upside.
"Economics Is Just Math" - Bill Clinton
"Tariffs are inevitably taxes on consumers" - Facts With JBB
Hedging? Youbetcha!
I agree that overall the stock market remains overpriced. That said, money finds places to go before long and corporations wash each others backs. For the time being I am holding off buying back in...
He said he’d bring down prices, but I’m pretty sure that was supposed to be groceries, not stock prices.
Isn’t it about time for one his worshippers to come in here and tell us not to take things so seriously? Trump is just joking around. It’s a negotiating tactic. The market is just trolling the Left. The market isn’t actually down; that’s fake news.
Just a small error in targeting...
The kind you see with piñatas at birthday parties.
Ya mean when ya hit exactly what yo were tryin' ta hit??
I haven't heard that lately....or maybe it's been said but I haven't seen it
But... but... but... They're BILLIONAIRES! They must know what they're doing.
Right?
Those that are smart and don't care about the public do well.The smartest ones sold off a lot of their holding at or near the peak. Of course those that are politicians are supposed to consider what's in best the interests of the public . . .
Billionaires generally do well whether or not they understand the market. Why? Because they can afford to hire the very best stock advisors in the world. Abilities are distributed as a bell curve-- very few are true geniuses-- but they charge a lot (you and i can't afford to hire them).
I am not a billionaire. (Nor have I ever POOTV!)
Not surprisingly. my account took a big hit today. However, over many years I've learned some things-- one being the power of diversification. So (not surprisingly) most of my holdings did very poorly today. Like many people, I am overweight large cap tech. But due to diversification, a few of my holdings did well. Here's some examples-- Listed with today's best performers first:
1. Dominion Symbol D, Utility, div 4.8%, up 2.4% today
2, Organon OGN, Women's Healthcare, div 7.3%, up 2%
3. Conagra, CAG, Packaged Food, div 5.1%, up 1.4%
4. Sabra REIT, SBRA, Healthcare Real Estate, div 7.1%, up 1.2%
5. Moderna, MRNA Biotech, RNA Medicines*, no div, up 1%
I typed this fairly quickly, probably all accurate but there might be an error or two. I am not necessarily recommending buying any of these stocks. And please remember: buying stocks can possibly result is the loss of part or all of your investment!
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*Most of the best COVID vaccines were distributed by either Pfizer or Moderna (I own stock in both).