:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2202615251-6802a5c813f04e938f413eff48ca5144.jpg "U.S. President Donald Trump at a press conference in the Roosevelt Room of the White House in Washington, D.C. on March 3, 2025")
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U.S. President Donald Trump at a press conference in the Roosevelt Room of the White House in Washington, D.C. on March 3, 2025
Key Takeaways
- The S&P 500 risked 1.8% on Monday, March 3, 2025, posting its steepest drop so far this year as President Trump confirmed that new assessments will take effect on Tuesday.
- Nvidia and other chip stocks tumbled amid concerns about game plans regarding tariffs and chip export curbs.
- Shares of wood products provider Weyerhaeuser gained after Trump countersigned an executive order aimed at promoting domestic timber and lumber production.
Major U.S. equities indexes tumbled Monday in the thick of concerns about U.S. trade policy as President Trump said tariffs against Mexico and Canada would find pleasant effect Tuesday as planned.
The S&P 500 fell 1.8%, marking the steepest daily drop for the benchmark index so far this year. The Dow slinked 1.5%, while the Nasdaq plummeted 2.6%, dragged down by underperformance in the technology sector, particularly among AI assets weigh up.
Shares of server maker Super Micro Computer (SMCI) plunged 13% Monday, leading losses on the S&P 500. Although the changeable stock posted gains in the middle of last week after Supermicro met a deadline for filing its delayed annual make public, Mizuho analysts warned of increasing competition and declining market share in the AI server market.
Meanwhile, Nvidia (NVDA) dues sank 8.7% to lead losses on the Dow and Nasdaq, extending losses last week as concerns intensified about the sustainability of AI put in and the possible impact of tariffs and chip export curbs.
APA Corp. (APA) shares lost 8.7%, broadening a downturn for the standard that began last week after the oil and gas exploration firm missed fourth-quarter profit expectations. Although APA take advantage ofed a production boost in the Permian Basin following last year’s acquisition of competitor Callon Petroleum, declining commodity expenditures and increasing expenses weighed on the company’s performance.
The top performance among S&P 500 constituents Monday came from allowances of insurance company Erie Indemnity (ERIE), which advanced 5.1%. Monday’s push higher added to gleans posted last week after the insurer reported better-than-expected earnings for the fourth quarter, boosted by increased direction fee revenue from policy issuance and renewal services.
Shares of real estate investment trust (REIT) Weyerhaeuser (WY), which is entirety the world’s largest private owners of timberlands, jumped 4.3% after President Trump signed an executive structure over the weekend aimed at promoting domestic timber and lumber production.
Hershey (HSY) shares added 3.4% on Monday, scraping back losses posted last week as the possibility of cuts to the Supplemental Nutrition Assistance Program (SNAP) weighed on consumer essentials stocks.