After a remarkable rally on Wednesday, Wall Street experienced a sharp decline on Thursday. Investors were cautious as they assessed the implications of President Donald Trump’s 90-day tariff pause amidst ongoing economic uncertainties. The S&P 500 fell by 3.5% to 5,268.05, while the Nasdaq 100 dropped by over 4.3% to 16,387.31. The Dow Jones Industrial Average declined 2.5% to 39,593.66. Despite a lower-than-expected inflation report, the market’s risk sentiment remained fragile.

Alibaba’s stock dipped 0.57% to close at $104.18, with an intraday high of $108.45 and a low of $101.37. The stock’s 52-week range is $148.43 to $68.36. Alibaba co-founder Jack Ma made a public appearance at the company’s cloud campus, marking its 15th anniversary. The cloud unit introduced the Blossom project, aimed at accelerating AI adoption.

JPMorgan’s shares fell 3.09% to $227.11, with a high of $230.35 and a low of $220.10. The 52-week range is $280.25 to $179.20. Bank stocks including JPMorgan reversed gains from the previous session, as the market pulled back following a historic rally driven by a temporary tariff pause. JPMorgan will release its latest quarterly numbers on Friday. Analysts estimate that the banking giant will report an earnings per share of $4.64.

CarMax’s stock plummeted 17.00% to $66.45, with a high of $71.55 and a low of $63.23, which is also its 52-week low. The 52-week high is $91.25. CarMax reported fourth-quarter sales of $6 billion, beating estimates, with retail used unit sales up 6.2% year-over-year and EPS at 58 cents, missing expectations. Gross profit per retail unit rose to $2,322, and the company repurchased 1.2 million shares for $98.5 million. For FY26, it plans to open six new stores and spend around $575 million in capital expenditures.

Janover’s stock surged 64.24% to $44.97, reaching a high of $61.36 and a low of $27.20. The 52-week range is $61.36 to $3.37. Janover announced the acquisition of $4.6 million worth of Solana (CRYPTO: SOL) as part of its new digital asset treasury strategy.