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Dow Jones, S&P 500 Selloff Continues, Tesla Stock Finds Support, Bounces 4%
Skerdian Meta•Tuesday, March 11, 2025•2 min read
Today the Tesla stock bounced nearly 4% after yesterday’s crash, while the D0w Jones and S&P 500 index continued to slide lower.
The uptrend has been broken for S&P 500
Tariffs on Canadian Imports Spark Market Volatility
The latest trading session in the U.S. was dominated by tariff-related headlines, as President Trump announced a 25% tariff on Canadian steel and aluminum imports, set to take effect the following day. The move was in response to Ontario Premier Doug Ford’s proposal for an electricity tax and his threat to halt electricity exports to the U.S.
Tensions escalated when Ford, acting independently, met with U.S. Commerce Secretary Lutnick. However, after negotiations, Trump reversed the tariffs, and Ford canceled the electricity surcharge, easing trade tensions between the two nations.
Tesla Shares Chart Weekly – The 100 SMA Holds As Support
Tesla’s stock saw significant volatility over the past two days, initially dropping over $40 to $220 yesterday before sliding further to $218 early in the U.S. session today. However, buyers stepped in, and the stock gradually rebounded, closing the day at $232, marking a 3.78% gain.
Currently, Tesla remains more than 50% below its December peak of $488 after a very volatile year in 2024, as part of a broader selloff affecting tech and AI-related stocks. The stock’s movements continue to reflect the high-risk, high-reward nature of growth stocks, with investor sentiment closely tied to macroeconomic conditions and sector trends.
Stock Market Reactions: Initial Decline, Rebound, Then Down Again
Stocks initially fell after the tariff announcement, indicating market hesitancy. Markets recovered when Ford reduced the electricity tax and Trump removed the tariffs. The S&P 500 rose 20 points before coming under fresh selling pressure, while the Nasdaq gained 220 points at session highs.
The Dow Jones Industrial Average never managed to turn a profit, making it the worst performer. Despite general market caution, the Russell 2000 showed a slight increase, suggesting that some risk appetite still exists.
Closing Levels for Major US Stock Indices
- Dow Jones Industrial Average: Dropped -478.23 points (-1.14%), closing at 41,433.49.
- S&P 500 Index: Declined -42.49 points (-0.76%), finishing at 5,572.07.
- Nasdaq Composite: Edged down -32.23 points (-0.18%), settling at 17,436.10.
- Russell 2000 Index: Gained +4.52 points (+0.22%), closing at 2,023.59, making it the only major index to end in positive territory.
Stock Market Overview & Key Takeaways
- Broad market weakness persisted, with Dow, S&P 500, and Nasdaq all closing lower, reflecting investor caution.
- Tech stocks showed resilience, helping limit losses in the Nasdaq, while small-cap stocks (Russell 2000) managed a slight gain.
- Economic uncertainty, interest rate concerns, and global trade risks continue to drive market sentiment.
Conclusion: A Mixed Market Awaits Further Clarity
While tariff uncertainty led to significant market swings, broader concerns about economic data, Federal Reserve policies, and upcoming earnings reports continue to influence sentiment. With stock market rallies being met with selling pressure, investors remain cautious as they assess the evolving trade landscape and macroeconomic outlook.
S&P 500 Live Chart
S&P500
Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
The uptrend has been broken for S&P 500
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