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Market Turmoil: Nasdaq Hits Correction Territory Amid Tariff Uncertainty
The U.S. stock market faced a sharp downturn today, with major indices taking significant hits. The Nasdaq Composite officially entered correction territory, dropping over 10% from its December highs. The S&P 500 also plummeted to its lowest level since November, while the Dow Jones Industrial Average fell by over 400 points.
This market turbulence comes in the wake of tariff-related uncertainty stemming from the Trump administration. Recent announcements of pauses on tariffs for certain Mexican and Canadian goods have left investors grappling with the potential economic impact. Meanwhile, tech stocks led the retreat, with semiconductor companies like Marvell, Nvidia, and AMD experiencing steep declines.
Adding to the market's woes, soft economic data and concerns about stagflation have heightened fears of a slowing U.S. economy. Investors are now closely watching the upcoming jobs report, which could further influence market sentiment.
The volatility underscores the precarious balance between policy decisions and market stability, leaving traders and analysts bracing for what lies ahead.
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