📉 Market Mayhem: Tariffs, Tech Trouble & Tumbling Stocks
A Tough Week on Wall Street—Here’s What Moved the Markets and What’s Next
March 8, 2025
Hello everyone, well, that was a rough week. The major indices took a hit, with declines ranging from 2.4% to 4.1% as the market battled growth concerns, tariff escalations, and some technical breakdowns. The S&P 500 briefly lost its footing below the 200-day moving average, while the Russell 2000 and Nasdaq Composite slid deeper into correction territory.
Tariffs were a dominant theme again. The U.S. officially slapped 25% tariffs on imports from Canada and Mexico, while tariffs on China jumped from 10% to 20%—and the retaliation was swift. However, a temporary exemption for USMCA-compliant goods meant that nearly two-thirds of Canadian imports and half of Mexican imports dodged the tariff bullet—for now.
On top of that, Target ($TGT) and Best Buy ($BBY) sounded the alarm on cautious consumers, adding to concerns that higher prices could further dampen economic growth.
Let’s break it down day by day.
📆 Monday (3/3): A Rough Start
The week started with selling pressure as growth worries and tariff fears took center stage. The Nasdaq slid 2.6%, the S&P 500 dropped 1.8%, and the Dow fell 1.5%.
🔹 Analyst Moves:
$ORCL got an upgrade from Monness Crespi & Hardt (Neutral).
$FL was reiterated as an Outperform by Evercore ISI with a $22 PT.
📆 Tuesday (3/4): Tariff Tensions Escalate
Markets remained under pressure after tariffs officially kicked in. Tech stocks and retailers felt the heat, especially after Target’s warnings about price increases.
🔹 Analyst Moves:
$GILD was reiterated as an Outperform by Oppenheimer ($132 PT).
$TSLA saw its price target slashed by BofA Securities—from $490 to $380.
📆 Wednesday (3/5): A Relief Rally?
Finally, a green day! The S&P 500 gained 1.1%, the Dow rose 1.1%, and the Nasdaq jumped 1.5%. Traders reacted positively to the Fed’s Beige Book, which indicated “slight” economic growth, and short-covering helped fuel the rally.
🔹 Analyst Moves:
$PLTR was upgraded by William Blair (Market Perform).
$GEV got a Buy upgrade from Guggenheim ($380 PT).
$ANET was upgraded to Buy by UBS ($115 PT).
$CRWD was reiterated as an Outperform by BMO Capital ($405 PT).
📆 Thursday (3/6): Back to the Downside
Markets fell again as trade war concerns continued dominating headlines. The S&P 500 briefly dipped below its 200-day moving average before recovering slightly.
🔹 Analyst Moves:
$FCX was upgraded to Buy by Deutsche Bank ($47 PT).
$HOOD was initiated as Overweight by Cantor Fitzgerald ($69 PT).
📆 Friday (3/7): A Strong Close
Despite a tough week, stocks managed to end on a positive note, with the S&P 500 gaining 0.6%, the Dow up 0.5%, and the Nasdaq rising 0.7%. The buying seemed to be a buy-the-dip move, particularly in semiconductors, after Broadcom ($AVGO) delivered strong earnings.
🔹 Analyst Moves:
$MARA was initiated as a Buy by Rosenblatt ($19 PT).
$TSLA got an upgrade to Buy by TD Cowen ($388 PT).
$VRT was initiated as an Outperform by RBC Capital ($121 PT).
$JPM was upgraded to Neutral by Robert W. Baird ($220 PT).
$BAC was upgraded to Outperform by Robert W. Baird ($50 PT).
📊 Weekly Market Performance
The Takeaway
This week was a reminder of how fragile sentiment can be. Growth fears, tariffs, and technical factors all contributed to the selling pressure. Earnings warnings from key retailers added fuel to the fire, raising concerns about consumer resilience.
Looking ahead, traders will be watching:
✅ Whether tariff exemptions get extended.
✅ The next batch of economic data for signs of stability.
✅ Technical support levels to see if the market finds a footing.
🔥 Tomorrow’s Weekly Deep Dive: Who Gets the Spotlight? 🔥
Every week, I take a deep technical dive into a stock, breaking down key levels, momentum, trends, and setups with a full analysis. This week, I’m eyeing NVIDIA $NVDA, Tesla $TSLA, Broadcom $AVGO, or Marvell $MRVL.
Which one do you want to see? Or is there another name you think deserves a closer look? Drop your pick in the comments and I’ll break down the most requested. 📩
*Disclaimer The examples in The Options Oracle are my opinion, not financial advice.
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