Market Rebound Fizzles as Tariff Fears Mount

Market Overview

Tariff tensions crushed hopes of a U.S. stock rebound. The S&P 500 and Dow both fell for a fourth straight session. The Dow tumbled over 2,000 points intraday, the S&P erased a 4% gain to close lower, and the Nasdaq swung from +4% to finish down over 2%. The 10-year Treasury yield rose for the second day, while the 2-year yield plunged nearly 20 basis points during the session. The U.S. dollar index halted a two-day winning streak. Crude oil fell for the fourth consecutive session, hitting a fresh four-year low with a drop of over 4%. Spot gold reversed from early gains, while silver futures jumped 3% before slipping into the red.

Hot Topics

🔹Massive Outflows from Oil ETFs as Prices Collapse

The oil market took a double hit. First, President Trump announced new trade policies impacting key oil importers like China and India. Hours later, OPEC+ agreed to increase production. WTI crude has now dropped for four straight days and is trading near its lowest since 2021. Some investors are cashing in their short positions, unsure how much further prices could fall. On Monday, the ProShares Ultra Bloomberg Crude Oil ETF saw $72.2 million in outflows—the largest since the 2020 COVID market crash.

🔹Apple Stock Hits 11-Month Low on Tariff Worries

Apple shares dropped to an 11-month low in after-hours trading Tuesday, losing its title as the most valuable public company. Apple‘s market cap fell to $259 billion, now trailing Microsoft’s $264 billion. Investors fear that rising import costs from tariffs could push Apple to either raise prices or absorb the costs, hurting margins. Panic buying has already been reported at Apple Stores across the U.S. as consumers brace for potential price hikes.

Key Watch

• 🕙 10:00 AM ET – U.S. February Wholesale Sales MoM

• 🕥 10:30 AM ET – U.S. EIA Weekly Crude Oil Inventories

• 🌙 2:00 AM ET – FOMC March Meeting Minutes Release