01 Stock Market
Stock indexes fell sharply on Thursday, with the Nasdaq dropping more than 2% to confirm a correction, and Brent oil jumped to more than $105 a barrel as hopes diminished for a quick resolution to the nearly one-month-old Middle East war.
U.S. President Donald Trump said Iran must make a deal or face a continued onslaught, while a senior Iranian official told Reuters on Thursday that a U.S. proposal for ending the fighting is "one-sided and unfair."
Dow Jones fell 1.01% at 45,960.11; S&P 500 fell 1.74% at 6,477.16; NASDAQ fell 2.38% at 21,408.08. A broad sell-off in large-cap technology and semiconductor names pressured all three benchmarks, with software, chip and social-media giants leading the retreat.
Sharp moves in heavyweight stocks set the tone. Nvidia fell 4.16% at $171.24 after another volatile session for AI leaders, while memory maker Micron dropped 6.97% at $355.46 following sector-wide weakness. Social-media bellwether Meta slid 7.96% at $547.54 as fresh legal headwinds resurfaced, and Alphabet lost 3.06% at $280.74. Electric-vehicle pioneer Tesla declined 3.59% at $372.11, shrugging off higher oil prices that once buoyed EV sentiment. In contrast, Apple eked out a rise of 0.11% at $252.89 after unveiling new U.S. manufacturing commitments.
Semiconductor-linked exchange-traded products magnified the swings. The bullish SOXL sank 14.15% at $48.97, while its bearish counterpart SOXS jumped 14.33% at $41.18, underscoring heavy profit-taking in the chip space. Leveraged tech fund TQQQ fell 7.12% at $41.23, whereas inverse fund SQQQ climbed 7.20% at $82.50. Energy-tied USO rose 3.41% at $117.26 as crude extended its rally, highlighting investors’ rotation toward inflation-hedge assets amid geopolitical tension.
02 Other Markets
U.S. 10-year Treasury yield fell by 0.10%, latest at 4.41%. USD/CNH rose 0.04%, at 6.92; USD/HKD rose 0.00%, at 7.83. U.S. Dollar Index fell 0.03%, at 99.85. WTI crude futures fell 1.28%, at 93.27 USD/bbl; COMEX gold futures rose 0.67%, at 4,438.40 USD/oz.
03 Top News
Trump Extends Halt on Iran Energy Strikes to April 6
President Donald Trump has extended a pause on U.S. strikes targeting Iran's energy infrastructure, pushing the deadline to April 6 as diplomatic efforts continue between Washington and Tehran.
"As per Iranian government's request, please let this statement serve to represent that I am pausing the period of Energy Plant destruction by 10 Days to Monday, April 6, 2026, at 8 P.M., Eastern Time," Trump said in a Truth Social post. "Talks are ongoing and, despite erroneous statements to the contrary by the Fake News Media, and others, they are going very well."
Meta Shares Drop on Fears US Verdicts Open Door to Deluge of Lawsuits
Meta Platforms shares dropped 8% on Thursday after two verdicts holding it liable for harm to young users sparked fears the social media giant may have to overhaul the design practices that have underpinned its sprawling advertising business.
While fines from the U.S. trials in New Mexico and Los Angeles totaled only a few hundred million dollars, experts and investors said the verdicts could open the company to a wave of litigation that sidesteps a federal law, which has long shielded online platforms from liability for user-generated content.
Musk Rewrites IPO Playbook with Large Slice of SpaceX Stock for Retail Investors, Source Says
Elon Musk is discussing allocating as much as 30% of SpaceX’s initial public offering to individual investors — at least three times the usual retail slice — leaning on his rabid fan base and other loyal backers to help steady the stock after its debut, a person familiar with the matter said.
The structure of what is expected to be one of the most closely watched IPOs in years departs from the standard Wall Street playbook, and underscores Musk’s determination to shape both who owns SpaceX and how its shares trade once public, said people close to the structure, who asked not to be identified because the process is confidential.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.
Comments