US Stocks Tumble; Dow Drops Over 400 Points

U.S. stocks traded lower this morning, with the Dow Jones dropping more than 400 points on Friday.

The Dow traded down 1.30% to 31,825.91 while the NASDAQ fell 0.97% to 11,603.08. The S&P 500, also fell, dropping, 1.21% to 3,912.39.

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Leading and Lagging Sectors

• Information technology shares fell by just 0.1% on Friday. Meanwhile, top gainers in the sector included WM Technology, Inc. MAPS, up 15%, and Netlist, Inc. NLST, up 9%.
• In trading on Thursday, financials shares dipped by 2.9%.

Top Headline

The University of Michigan consumer sentiment fell to 63.4 in March from 67 in the previous month.

Equities Trading UP

• HUB Cyber Security (Israel) Ltd. HUBC shares shot up 23% to $2.94 after jumping over 20% on Thursday.
• Shares of Oportun Financial Corporation OPRT got a boost, shooting 18% to $3.35.
• Traeger, Inc. COOK shares were also up, gaining 17% to $3.5115 after the company announced better-than-expected Q4 results.

Equities Trading DOWN

• Lifecore Biomedical, Inc. LFCR shares tumbled 61% to $2.01 after the company reported worse-than-expected Q2 financial results.
• Shares of Diebold Nixdorf, Incorporated DBD were down 48% to $1.1871. Wedbush reiterated Diebold Nixdorf with an Outperform and maintained a $5 price target.
• CXApp Inc. CXAI was down, falling 25% to $3.00.

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Commodities

In commodity news, oil traded down 2.6% to $66.55 while gold traded up 2.2% at $1,965.00.

Silver traded up 2.9% to $22.32 on Thursday while copper rose 0.5% to $3.8835.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 1.4%, London’s FTSE 100 fell 1.3% while Spain’s IBEX 35 Index fell 1.9%. The German DAX dropped 1.6%, French CAC 40 fell 1.7% and Italy’s FTSE MIB Index fell 1.9%.

Asia Pacific Markets

Asian markets closed higher on Friday, with Japan’s Nikkei 225 gaining 1.2%, Hong Kong’s Hang Seng Index gaining 1.64% and China’s Shanghai Composite Index gaining 0.73%. India’s S&P BSE Sensex rose 0.6%.

Economics

• The University of Michigan consumer sentiment fell to 63.4 in March from 67 in the previous month.
• Industrial production came in unchanged for February, following a 0.3% increase in January.

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