US Stock Market Today: Dow Jones crashes over 650 pts, Nasdaq below 17,350—Adobe slumps below $380; Amazon, Apple drop 2%

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US Stock Market Close (March 13), Dow Jones, S&P 500, Nasdaq: An across-the-board sell-off pulled the main Wall Street benchmarks—the Dow Jones Industrial Average (DJIA), the S&P 500 and the Nasdaq Composite—lower on Thursday, with consumer discretionary, communication services, realty and tech stocks being the worst hit. Growing concerns about US President Donald Trump’s aggressive stance and action on the trade front, and retaliatory action by America’s major trade partners coming in the way of economic growth kept investors on the back foot.

Among index heavyweights, stocks like Adobe, Apple and Amazon were among the top losers. Adobe fell even as the tech major’s revenue guidance stood met market expectations. Adobe was down 13.6 per cent at $378.8 apiece at the last count, while Amazon.com was down 2.5 per cent at $193.9 and Apple was down 2.3 per cent at $211.8. On the flipside, Intel shares were up 15.4 per cent at $23.9 apiece. 

Responding to the US President’s tariffs on steel and aluminum, the European Union imposed a 50 per cent dity on American whiskey exports. Trump warned of duties to the tune of 200 per cent on European beverage imports if the Union does not remove US whiskey surcharges.

Uncertainty surrounding the 47th US President’s take on trade tariffs has kept investors on the back foot, also causing ripples across major markets elsewhere around the globe.

US Stock Market on Monday, March 13 | Here is how Dow Jones, S&P 500 & Nasdaq fared

At 2:13 pm Eastern Time (11:43 pm in India), this is where the main American indices stood:

  • DJIA: down 486.3 points, or 1.2 per cent, at 40,864.7
  • S&P 500: down 64.2 points, or 1.2 per cent, at 5,535.1
  • Nasdaq: down 299.1 points, or 1.7 per cent, at 17,349.4
  • Russell 2000: down 39.7 points, or 2.0 per cent, at 1,986.8

ALSO READ: New York-based bourse operator Nasdaq plans 24-hour round the clock trading

Top Dow Gainers vs Losers

Eighteen stocks in the 30-scrip Dow universe were trading in green territory.

Stock

CMP ($)

Change (%)

Home Depot Inc

347.9

-4.0

Salesforce Inc

274.0

-3.7

Amazon.com Inc

194.5

-2.2

Apple Inc

212.3

-2.2

3M Co

147.5

-1.8

Boeing Co

160.1

0.8

Travelers Companies Inc

255.6

1.4

Merck & Co Inc

94.8

1.6

NVIDIA Corp

117.6

1.6

Verizon Communications Inc

43.7

2.6

Now, let’s take a look at some of the top gainers and losers in the tech stocks-driven Nasdaq basket. 

Top Nasdaq Gainers vs Losers

Here’s how some of the prominent names fared:

Stock

CMP ($)

Change (%)

Adobe Inc.

378.4

-13.7

Grail Inc

27.7

-10.1

Trade Desk Inc

55.3

-8.1

Atlassian Corp

211.4

-6.7

MongoDB Inc

185.9

-5.2

Meta Platforms Inc

596.8

-3.7

Alphabet Class A

163.7

-2.0

Alphabet Class C

165.7

-1.9

Netflix Inc

902.8

-1.8

Microsoft Corp

380.0

-0.9

NVIDIA Corp

117.4

1.5

Vertex Pharmaceuticals Inc

503.3

1.6

Exelon Corp

43.3

1.6

T-Mobile US Inc

260.0

1.7

MicroStrategy (Strategy)

268.3

2.2

Intel Corp

23.9

15.4

ALSO READ: ‘India won’t be spared from Washington’s reciprocal tariffs, I told Modi…,’ says Donald Trump; Musk criticises Biden administration

With inputs from agencies

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