Newscasts - S&P, Dow finish higher at the end of March madness

Solid Biosciences

31/03/2025 23:58

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Source: 'Reuters - Business videos'

Description: The S&P 500 and the Nasdaq Composite posted on Monday their worst quarterly performances since 2022, as uncertainty around the Trump administration's economic agenda roiled U.S. equity markets in the first quarter of 2025. Lisa Bernhard has more.

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Video Transcript:

Wall Street's main indexes mostly shrugged off tariff uncertainty on Monday, with the Dow closing up 1%, the S&P 500 adding more than 0.5%, and the NASDAQ ticking down marginally. Still, Monday marked the worst quarterly performances for the S&P 500 and NASDAQ since 2022. The S&P slumped 4.6% in the first quarter, while the NASDAQ plummeted 10.5%. The Dow wasn't immune, slipping 1.3%. Many of the Magnificent Seven names also suffered steep quarterly losses, with two of the biggest losers for that period being Tesla, down almost 36%, and NVIDIA, which dropped nearly 20%. Despite Monday's bounce-back in equities, a lack of clarity around President Trump's economic policies means there's likely more volatility to come, said Mary Ann Bartels, Chief Investment Strategist at Sanctuary Wealth.

So, today, we had a very, very choppy market, very volatile where we were testing the lows, and the market actually made a new low both on the S&P and NASDAQ. But we seem to be trying to rally off of these lows, which to us means that we're in a testing process. Testing processes of lows can actually take weeks or months. So, we're in the early stages, I think, of trying to make a bottom in the equity markets, but we still need a little bit more clarity on the tariff front.

Trump on Sunday said that this week's tariff announcement will include duties on all nations. He has already imposed tariffs on aluminum, steel and autos, along with increased tariffs on goods from China. Monday's stock moves included shares of drugmakers, which slid after reports that the FDA's top vaccine official had been forced to resign. Moderna dropped nearly 9%, while gene therapy companies Taysha Gene Therapies and Solid Biosciences fell 28% and more than 14%, respectively. In deal news, shares of Rocket Companies fell more 7% after the mortgage lender said it agreed to a $9.4 billion acquisition of mortgage servicer Mr. Cooper Group, whose shares rose about 14.5%.