Published: Friday, March 28, 2025 · 9:40 PM | Updated: Friday, March 28, 2025 · 9:40 PM
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U.S. stock markets faced significant sell-offs due to rising inflation and global trade policy uncertainties. The Dow Jones Industrial Average dropped as much as 769 points, dipping below the 42,000-point mark to 41,530, before closing down 715 points or 1.7% at 41,583.
The S&P 500 fell 112 points or 2% to 5,580, while the Nasdaq experienced the largest drop, losing 481 points or 2.7% to settle at 17,322. The technology sector, known as the “Magnificent Seven,” was a major focus of the sell-off, with all seven stocks declining. Alphabet (GOOG) plunged 4.9%, Amazon (AMZN) and Meta (META) declined 4.3%, Microsoft (MSFT) and Tesla (TSLA) fell over 3%, Apple (AAPL, Financial) slipped 2.7%, and NVIDIA (NVDA) had the smallest drop of 1.6%.
Nike (NKE), Goldman Sachs (GS), and Caterpillar (CAT) led the declines in the Dow, each falling between 2% and 3%. Lululemon (LULU) saw a 14.2% drop as its new fiscal year guidance disappointed investors.
For the week, the S&P 500 fell 1.5%, the Dow decreased about 1%, and the Nasdaq dropped 2.6%.
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