Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) has become the ultimate AI bellwether—but that status is <a href="https://www.benzinga.com/topic/artificial-intelligence">coming under pressure</a>. 



After a blistering multi-year run, shares are now down nearly 29% year to date and 8.7% over the past month. Mounting concerns around capital expenditures, valuation, and geopolitical risks create uncertainty for <a href="https://www.benzinga.com/quote/nvda/news">Nvidia stock investors</a>.



"Regarding Nvidia, it is certainly a bellwether within the semiconductor space and AI revolution," said a Direxion&#8217;s Managing Director Ed Egilinsky said in an exclusive interview with Benzinga.



"However, with the Deepseek news last month, and the negative impact it can have on overall capex spending, has led many to be concerned whether its current growth rate is sustainable."



Read Also: <a href="https://www.benzinga.com/25/04/44671636/nvidia-applied-materials-provide-115m-fund-to-digital-engineering-startup-rescale">Nvidia, Applied Materials Back Digital Engineering Startup In $115M Round</a>



<h2 class="wp-block-heading">Nvidia Stock Technicals Turns Bearish</h2>



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0408"><img loading="lazy" decoding="async" width="629" height="491" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/08072329/Screenshot-2025-04-08-at-4.53.16-PM.png" alt="" class="wp-image-861700" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/08072329/Screenshot-2025-04-08-at-4.53.16-PM.png 629w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/08072329/Screenshot-2025-04-08-at-4.53.16-PM-300x234.png 300w" sizes="(max-width: 629px) 100vw, 629px" /></a></figure>



<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0408" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>



That sustainability question is colliding with bearish technicals. Nvidia stock is now trading below all key short-term and long-term simple moving averages (SMAs) — an unambiguous &#8216;Bearish&#8217; signal from a technical standpoint:



<ul>
<li>Eight-day SMA: $104.15</li>



<li>20-day SMA: $112.11</li>



<li>50-day SMA: $120.05</li>



<li>200-day SMA: $126.73</li>



<li>Nvidia stock price: $100.85</li>
</ul>



The MACD (moving average convergence/divergence) indicator is a negative 5.90 and the RSI (relative strength index) has dropped to 37.48, indicating that bearish momentum is building, though some traders may soon start eyeing a rebound play on oversold conditions.



"In addition, the increasing competitive landscape combined with the overhang of possible further tariff and regulatory restrictions on U.S. chipmakers also could weigh on the stock," Ed added.



<h2 class="wp-block-heading">From Market Darling To Valuation Puzzle</h2>



While bulls still argue Nvidia's long-term dominance in AI makes any dip a buying opportunity, traders are split. For those trying to ride either direction of this volatility, Direxion offers tools for both camps.



"For playing either side of the NVDA trade, one can look to either our Direxion Daily NVDA Bull 2X Shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDU#NASDAQ">NVDU</a>) or the Direxion Daily NVDA Bear 1X Shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDD#NASDAQ">NVDD</a>)."



Whether this is a pause before the next leg higher or a sign of deeper correction, Nvidia's once one-way momentum trade now faces real complications.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44680723/despite-tariff-turmoil-bitcoin-outperforms-magnificent-7-stocks-in-2025-records-smaller-losses-than-nvidia-tesla-apple">Despite Tariff Turmoil, Bitcoin Outperforms &#8216;Magnificent 7&#8217; Stocks In 2025 — Records Smaller Losses Than Nvidia, Tesla, Apple</a></li>
</ul>



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EXCLUSIVE: Nvidia May Be The Face Of AI But The Valuation Story Is Getting Complicated, Says Expert

CVS Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) on Tuesday named Brian Newman as executive vice president and chief financial officer designate, effective&nbsp;April 21.



He will succeed current chief financial officer Tom&nbsp;Cowhey, who will transition as a strategic advisor to president and chief executive officer&nbsp;David Joyner, <a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/n44680644/cvs-health-announces-chief-financial-officer-transition-plan-appoints-chief-medical-officer" rel="noreferrer noopener">effective&nbsp;May 12</a>.



Newman was most recently executive vice president and chief financial officer of United Parcel Service Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>).



Also Read: <a target="_blank" href="https://www.benzinga.com/general/health-care/25/04/44627279/ftc-pauses-lawsuit-against-cvs-cigna-unitedhealths-pbms-amid-commissioner-shortage" rel="noreferrer noopener">FTC Pauses Lawsuit Against CVS, Cigna, UnitedHealth's PBMs Amid Commissioner Shortage</a>



Before joining UPS, Newman spent 26 years with PepsiCo, where he held finance leadership roles across&nbsp;Europe,&nbsp;Asia, and North and&nbsp;South America. He also served as executive vice president for PepsiCo's global operations and chief strategy officer. Newman began his career as an investment banker at PaineWebber.



Amy Compton-Phillips, the company's new executive vice president and chief medical officer, effective&nbsp;May 19, will also report to David&nbsp;Joyner.



Dr. Compton-Phillips was most recently chief physician executive of Press Ganey, a health care performance improvement company.



Prior to Press Ganey, Dr. Compton-Phillips was the president and chief clinical officer at Providence Health &amp; Services, a health care system, responsible for clinical operations and care including improving health, care, and value outcomes delivered by the system's hospitals, clinics, and caregivers. From 1985 to 2007, she held positions of increasing responsibility at Kaiser Permanente.



In February, CVS Health reported fourth-quarter sales of $97.71 billion, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/general/health-care/25/02/43709040/cvs-health-gains-momentum-after-q4-performance-analyst-upgrades-stock" rel="noreferrer noopener">consensus of $97.19 billion</a>.



Total revenues increased 4.2%, driven by growth in the Health Care Benefits and Pharmacy &amp; Consumer Wellness segments, partially offset by a decline in the&nbsp;Health Services segment.



The Medical benefit ratio increased from 88.5% to 94.8% compared to the prior year, driven by increased utilization, the unfavorable impact of the previously disclosed decline in the company's Medicare Advantage star ratings for the 2024 payment year, and the impact of higher acuity in Medicaid.



In October 2024, CVS Health&nbsp;appointed longtime executive&nbsp;David Joyner as its new president and CEO, replacing&nbsp;Karen Lynch amid the company's&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41399396/pharmacy-retailer-cvs-health-backs-away-from-annual-forecast-names-new-ceo" rel="noreferrer noopener">ongoing financial struggles</a>.



In November 2024, CVS&nbsp;Health appointed Prem&nbsp;Shah as the Group President, responsible for the operational performance across CVS Caremark, CVS Pharmacy, and the company's&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n41769048/cvs-health-announces-leadership-appointments" rel="noreferrer noopener">Healthcare Delivery businesses</a>.



In addition, the company appointed Steve Nelson&nbsp;as President of Aetna.



Price Action: At the last check on Tuesday, CVS stock was up 9.52% at $69.93 during the premarket session.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/forex/25/04/44680574/global-markets-rebound-in-relief-rally-gold-back-to-3000" target="_blank" rel="noreferrer noopener">Global Markets Rebound In Relief Rally, Gold Back To $3,000</a></li>
</ul>



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CVS Health Appoints Former UPS And Pepsi Exec As Finance Chief, Stock Soars

Marvell Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) is making a clean break from its automotive ambitions, and JPMorgan's Harlan Sur thinks that's exactly the kind of focus <a href="https://www.benzinga.com/quote/MRVL/news">investors should be betting on</a>.



Following the company's $2.5 billion sale of its Automotive Ethernet business to Infineon Technologies AG, Sur reiterated an Overweight rating and placed a $130 price target by December 2025, implying a 155% upside from Friday's close at $51.



<h2 class="wp-block-heading">AI Gets The Green Light</h2>



While growing fast, the automotive Ethernet business isn't expected to account for more than 2-3% of Marvell's revenue mix in 2026.



Meanwhile, the company's AI and data center portfolio is growing at a 30-40% annual clip, notes Sur. In short, this isn't about dumping a promising segment &#8211; it's about clearing the runway for a higher-growth flight path.



Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44625829/jpmorgan-says-broadcom-marvell-could-dominate-ais-next-frontier-heres-why">JPMorgan Says Broadcom, Marvell Could Dominate AI&#8217;s Next Frontier — Here&#8217;s Why</a>



<h2 class="wp-block-heading">High Valuation, Low Drag</h2>



The deal was struck at a 10.5x sales multiple, a healthy premium for a business expected to bring in $225 to $250 million in FY26 with 60% gross margins. 



Sur says the transaction could be slightly accretive to earnings &#8211; boosting Marvell's EPS by 5 to 10 cents per share—especially if the cash is channeled into stock buybacks.



<h2 class="wp-block-heading">Clean Break, Clear Strategy</h2>



Marvell's exit from the auto space follows its October quarter restructuring, where it began shifting investments away from enterprise networking, carrier infrastructure and automotive.



The company is now focused on AI and accelerated computing &#8211; a theme Sur sees as key to unlocking long-term value.



Marvell may have built the auto business from scratch over eight years, but with a $2.5 billion payday and a 155% potential upside, the real race is in AI, and Marvell just hit the gas.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/04/44653936/broadcom-and-marvell-poised-for-growth-as-nvidias-cpo-push-faces-delays-analyst-reveals">Rising Tide Of AI Is So Strong That Semiconductor Optical Industry Projects $30 Billion Total Addressable Market By 2029</a></li>
</ul>



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Asset Sales

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MRVL

Marvell Plays AI Hardball: Divestiture Sparks 155% Upside, Says Analyst

U.S. stock futures rose on Tuesday following a volatile day of trading on Monday that led the indices to close on a mixed note. Futures of major benchmark indices were higher in premarket.



The sell-off that began on Thursday has driven the Nasdaq into bear market territory, whereas the S&amp;P 500 and Dow Jones continue to be in the correction zone.



As China&#8217;s Commerce Ministry said that it "<a href="https://www.benzinga.com/markets/25/04/44677506/china-resolutely-opposes-trumps-50-tariff-threat-vows-countermeasures-as-trade-tensions-jolt-markets?_gl=1kzrvdi_gcl_auNzQyMjgxNjUuMTczNzYwNzI4NQ.._gaZGVsZXRlZA.._ga_V7ZK73W7N0&#x2A;MTc0NDEwMDY0OS4yNDkuMC4xNzQ0MTAwNjQ5LjAuMC4w">resolutely opposes</a>" U.S. President Donald Trump‘s threat to impose additional 50% duties on Chinese imports, the ministry vowed to take countermeasures to protect its interests, intensifying trade tensions that have already triggered market turmoil.



Major indices were significantly down from recent highs as of Tuesday. The S&amp;P 500 was 17.65% lower, the Nasdaq 100 was down 21.56%, and the Dow Jones declined 15.77%, following a week of tariff-driven selloffs.



The 10-year Treasury bond yielded 4.17% and the two-year bond was at 3.77%. However, the CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections showed markets pricing a 71.4% likelihood of the Federal Reserve keeping the current interest rates unchanged in its May meeting. 



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>2.03%</td></tr><tr><td>S&amp;P 500</td><td>1.67%</td></tr><tr><td>Nasdaq 100</td><td>1.42%</td></tr><tr><td>Russell 2000</td><td>2.06%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, advanced in premarket on Tuesday. The SPY was up 1.13% to $510.07, while the QQQ declined 1.09% to $428.30, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Real estate, materials, and utilities sectors led Monday&#8217;s S&amp;P 500 decline, pulling the U.S. stocks to a mixed close, with the Dow Jones falling for its third consecutive session.



Conversely, communication services and information technology stocks bucked the trend, closing higher.



Within tech, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares fell roughly 2.6%, while Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) lost 3.7%. Market volatility stemmed from Trump&#8217;s Truth Social post, threatening 50% U.S. tariffs on China following China&#8217;s 34% retaliatory tariffs.



The Manheim Used Vehicle Value Index reported a 0.7% month-over-month drop in March, consistent with February&#8217;s decline.



The Dow Jones index slumped 349 points or 0.91% to 37,965.60, whereas the S&amp;P 500 index fell 0.23% to 5,062.25. Nasdaq Composite bucked the trend to end 0.099% higher at 15,603.26, and the small-cap gauge, Russell 2000, tumbled 0.92% to 1,810.14.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td> 0.099%</td><td>15,603.26</td></tr><tr><td>S&amp;P 500</td><td>-0.23%</td><td>5,062.25</td></tr><tr><td>Dow Jones</td><td>-0.91%</td><td>37,965.60</td></tr><tr><td>Russell 2000</td><td>-0.92%</td><td>1,810.14</td></tr></tbody></table></figure>



Insights From Analysts:



Lawrence McDonald, founder of Bear Traps Report, calculates that<a href="https://www.benzinga.com/markets/bonds/25/04/44679299/trump-tariffs-triggers-historic-equity-wipeout-outpacing-covid-lehman-crashes-with-no-bond-rally-to-cushion-the-blow-says-lawrence-mcdonald"> Trump&#8217;s tariff-driven selloff</a> has obliterated $9 trillion in just six weeks, matching the COVID crash&#8217;s one-month losses and exceeding the 2008 Lehman collapse&#8217;s 12-month decline.



Only the 2022 inflation downturn saw greater losses, at $10 trillion over 11 months. Notably, unlike previous crises where bond yields plummeted, current 30-year yields remain high, near 4.5%, eliminating a traditional bond-market safety net. Reuters reports the global impact of these tariffs at a $10 trillion market wipeout.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">What do Bonds Know? &#x2A;Last 20 years, large equity market risk-off events have &#8212; always &#8212; brought in &quot;flight to quality&quot; buyers of long duration U.S. Treasuries. Not this time. &#x2A;&#x2A;Book Ideas &#8211; &quot;How to Listen When Markets Speak&quot; on Amazon. <a href="https://t.co/naR2vpsuLr">pic.twitter.com/naR2vpsuLr</a>&mdash; Lawrence McDonald (@Convertbond) <a href="https://twitter.com/Convertbond/status/1909236400127455548?ref_src=twsrc%5Etfw">April 7, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The VIX sustained levels above 45 for two consecutive days, closing at 45.31 on Monday and 46.98 on Tuesday. As former Luby Asset Management CIO Bill Luby noted, this marks the first such occurrence since the 2008-09 Great Financial Crisis and the 2020 COVID-19 pandemic.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Consecutive 45+ <a href="https://twitter.com/search?q=%24VIX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$VIX</a> closes are extremely rare. So rare that only two previous crises have included at least two 45+ closes in a row: the Great Financial Crisis of 2008-09 and the Pandemic of 2020.&mdash; Bill Luby (@VIXandMore) <a href="https://twitter.com/VIXandMore/status/1909346105835634993?ref_src=twsrc%5Etfw">April 7, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



A dramatic 118% surge in the VIX over three days marks its fifth-largest such spike. Creative Planning&#8217;s Charlie Bilello&#8216;s data shows that the two larger three-day VIX spikes of 176% in 2018 and 167% in 2015, preceded strong S&amp;P 500 returns over the following one to five years, leading Bilello to conclude that &#8220;high volatility/fear = opportunity&#8221;.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The <a href="https://twitter.com/search?q=%24VIX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$VIX</a> increased 118% over the last 3 trading days, the 5th biggest 3-day spike ever. What has happened in the past following the biggest <a href="https://twitter.com/search?q=%24VIX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$VIX</a> spikes? Stocks have tended to bounce back with above-average returns over the next 1-5 years. High volatility/fear = opportunity. <a href="https://t.co/3X373zS1K8">pic.twitter.com/3X373zS1K8</a>&mdash; Charlie Bilello (@charliebilello) <a href="https://twitter.com/charliebilello/status/1909370006569206218?ref_src=twsrc%5Etfw">April 7, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Meanwhile, Bravos Research indicates a &#8220;risk-off&#8221; sentiment in the U.S. stock market, triggered by a gold-to-silver ratio breakout, currently at 99.59. This closely watched metric suggests investors are shifting from volatile silver to safe-haven gold, a pattern seen before the 2022, 2020, and 2008 market downturns.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">15/ This is what the gold-to-silver ratio looks like since 2020 It just broke out above a major basing pattern that had been forming since 2022 This is a risk-off signal, showing traders are moving away from the more volatile silver and into gold <a href="https://t.co/YlcE5Q0oVm">pic.twitter.com/YlcE5Q0oVm</a>&mdash; Bravos Research (@bravosresearch) <a href="https://twitter.com/bravosresearch/status/1909253763153436992?ref_src=twsrc%5Etfw">April 7, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>



Upcoming Economic Data



Here&#8217;s what investors will keep an eye on Tuesday:



<ul>
<li>The NFIB optimism index for March will be out by 6:00 a.m., and San Francisco Fed President Mary Daly will speak at 8:00 a.m. ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>Walgreens Boots Alliance Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) was up 1.31% in premarket on Tuesday before the opening bell. Analysts expect a quarterly earnings of 53 cents per share on revenue of $38 billion.</li>
</ul>



<ul>
<li>RPM International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPM#NYSE">RPM</a>) was down 0.19% as Wall Street expects it to report earnings of 49 cents per share on revenue of $1.51 billion before the opening bell.</li>
</ul>



<ul>
<li>Cal-Maine Foods Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CALM#NASDAQ">CALM</a>) rose 0.59% ahead of its earnings call after the closing bell. Analysts expect a quarterly earnings of $10.90 per share on revenue of $1.43 billion.</li>
</ul>



<ul>
<li>Greenbrier Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBX#NYSE">GBX</a>) dropped 4.72% after posting downbeat results for its second quarter. The company reported quarterly sales of $762.1 million, which missed the analyst consensus estimate of $898.530 million.</li>
</ul>



<ul>
<li>Levi Strauss &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>) surged 10.37% after reporting better-than-expected earnings for its first quarter on Monday. Levi also said its 2025 guidance remains unchanged, other than to reflect its Dockers business as a discontinued operation, and does not reflect any impact from the recently announced tariffs.</li>
</ul>



<ul>
<li>Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) advanced 3.14% after it announced the sale of its automotive Ethernet business to Infineon for $2.5 billion in cash.</li>
</ul>



<ul>
<li>Viasat Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) was 1.32% higher after announcing the launch of Amara, its next-generation In-flight Connectivity (IFC) solution for commercial aviation.</li>
</ul>



<ul>
<li>P10 Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PX#NYSE">PX</a>) moved 0.70% higher after acquiring Madrid-based Qualitas Equity Funds for $63 million. Qualitas manages roughly $1 billion in fee-paying assets for over 1,300 partners.</li>
</ul>



<ul>
<li>Heavyweights, Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) rose 2.41%, Apple Inc. advanced 1.34%, Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) gained 0.79%, Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) was 2.04% higher, and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) climbed 1.89%.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.05% to hover around $60.73 per barrel.



Gold Spot US Dollar advanced 0.82% to hover around $3,007.02 per ounce. Its fresh record high stood at $3,168.04 per ounce. The U.S. Dollar Index spot was lower by 0.14% at the 103.111 level.



Asian markets rose on Tuesday. India's S&amp;P BSE Sensex, Japan's Nikkei 225, Australia's ASX 200, China&#8217;s CSI 300, Hong Kong's Hang Seng, and South Korea's Kospi index advanced. European markets were also higher in early trade.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/04/44679385/market-enters-risk-off-mode-as-analyst-predicts-this-signal-flashing-warnings-similar-to-2020-and-2008-crisis">Market Enters &#8216;Risk-Off&#8217; Mode As Analyst Predicts This Signal Flashing Warnings Similar To 2020, 2008 Crisis</a></li>
</ul>



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Wall Street Eyes Recovery As S&P 500, Nasdaq Futures Rise After Trump's Tariff-Driven Selloff Wipes Out $9 Trillion In Six Weeks

Bear markets, defined as a drop of 19.9% or greater from their previous high, tend to be significantly more severe and prolonged when they occur in conjunction with a recession, according to an investment strategist.



What Happened: According to analysis shared by Liz Ann Sonders, Chief Investment Strategist at Charles Schwab, &#8220;Bear markets tend to be larger and longer when they're associated with recessions.&#8221;



In a recent post on X, Sonders shared a compelling scatter plot showcasing this relationship using S&amp;P 500 bear market data spanning from 1946 to April 4, 2025. The chart shows bear markets that coincided with recessions and the bear markets that did not.



Bear markets occurring without a recession have historically been shallower and shorter in duration. These instances have a mean drawdown of 30%, spanning between 200 to 250 days. This magnitude and duration are shorter compared to their recession-linked counterparts.



The red circles on the chart, representing bear markets intertwined with economic recessions, are generally clustered towards the bottom-right quadrant. The mean drawdown for such instances shows more than 30% of correction, spanning nearly 400 days.



Notable historical examples like the 2000-2002 tech bubble burst and the 2007-2009 Global Financial Crisis, both accompanied by recessions, saw substantial drawdowns and extended periods of recovery. The longest instance of such a market accompanied by recession was in 1973, which lasted for about 650 days, pulling the index down nearly 50%.



The chart reinforces Sonders&#8217; core message: the presence of a recession acts as a significant amplifier of bear market pain and its longevity.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bear markets tend to be larger and longer when they're associated with recessions ⁦<a href="https://twitter.com/nberpubs?ref_src=twsrc%5Etfw">@nberpubs</a>⁩ <a href="https://t.co/ghzFLTwV9W">pic.twitter.com/ghzFLTwV9W</a>&mdash; Liz Ann Sonders (@LizAnnSonders) <a href="https://twitter.com/LizAnnSonders/status/1909526087052165433?ref_src=twsrc%5Etfw">April 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also: <a href="https://www.benzinga.com/25/04/44679385/market-enters-risk-off-mode-as-analyst-predicts-this-signal-flashing-warnings-similar-to-2020-and-2008-crisis">Market Enters &#8216;Risk-Off&#8217; Mode As Analyst Predicts This Signal Flashing Warnings Similar To 2020, 2008 Crisis</a>



Why It Matters: While past performance is no guarantee of future results, this historical analysis provides valuable context for investors navigating the current economic landscape.



Understanding the historical relationship between bear markets and recessions can help investors better assess potential risks and adjust their investment strategies accordingly. Following President Donald Trump&#8216;s tariff announcements last Wednesday, markets saw two straight days of losses on Thursday and Friday before closing mixed on Monday, intensifying the recent selloff.



As of Monday, only the Nasdaq 100 index was in the bear market territory, down by 21.56% from its previous high of 22,222.61 points. The S&amp;P 500 was nearing the bear market zone as it was 17.65% below its previous record high of 6,147.43 points. The Dow Jones, on the other hand, was down by 15.77% from its 52-week high of 45,073.63 points.



Goldman Sachs has further <a href="https://www.benzinga.com/25/04/44662991/goldman-sachs-raises-risk-of-recession-to-45-jefferies-calls-tariffs-a-free-hall-pass-for-tech-giants-to-reset-their-goals">increased its U.S. recession</a> forecast to 45% (from 35% on Sunday), citing tighter financial conditions and policy uncertainty, echoing <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44645681/jpmorgan-raises-recession-risk-to-60-as-largest-us-tax-hike-in-60-years-hits-global-economy?_gl=1&#x2A;1mnei8t&#x2A;_gcl_au&#x2A;NzQyMjgxNjUuMTczNzYwNzI4NQ..&#x2A;_ga&#x2A;ZGVsZXRlZA..&#x2A;_ga_V7ZK73W7N0&#x2A;MTc0NDAyMzE1Ny4yNDYuMS4xNzQ0MDIzMjMyLjAuMC4w">JPMorgan&#8217;s 60% global recession</a> odds from last week. However, Jefferies analysts propose that these very headwinds, including Trump&#8217;s tariffs, might give tech companies leeway to adjust their financial guidance.



Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, advanced in premarket on Tuesday. The SPY was up 2.53% to $517.15, while the QQQ advanced 2.49% to $434.23 according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/04/44678610/volatility-gauge-vix-spikes-118-in-3-days-tops-45-for-2nd-day-first-time-since-gfc-and-pandemic" target="_blank" rel="noreferrer noopener">Volatility Gauge VIX More Than Doubles In 3 Days: Crosses The 45 Mark For 2nd Day, 1st Time Since 2008 Financial Crisis</a></li>
</ul>



Photo: Shutterstock

Government

Regulations

Broad U.S. Equity ETFs

ETFs

Bear Markets Hit Harder And Last Longer During Recessions, Says Market Strategist: Here's A Historical Look At Bear Market Severity And Duration

U.S. consumers are reportedly rushing to Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) stores to purchase new iPhones ahead of potential price hikes caused by President Donald Trump's newly announced tariffs on Chinese imports.



What Happened: Following last week&#8217;s announcement of higher tariffs on Chinese goods, including a 25% levy on electronics, Apple customers have begun upgrading their iPhones in anticipation of a price increase, <a href="https://www.wsj.com/tech/apple-users-rush-to-upgrade-iphones-ahead-of-potential-tariffs-related-price-hikes-7640aa24?mod=tech_lead_pos2">reported</a> The Wall Street Journal.



 Joel Burke, a policy professional in Washington, D.C., is among the many who acted quickly. &#8220;You gotta take care of your own personal needs and there's no question in my mind that the prices are going to go up,&#8221; Burke said.



See Also:&nbsp;<a href="https://www.benzinga.com/media/25/03/44508019/tesla-and-other-us-robotics-giants-demand-federal-strategy-to-compete-with-chinas-138-billion-push-warn-america-will-lose-the-race-without-it" target="_blank" rel="noreferrer noopener">Tesla And Other US Robotics Giants Demand Federal Strategy To Compete With China's $138 Billion Push — Warn America Will Lose The Race Without It</a>



Over the weekend, Apple stores in San Francisco also confirmed that customers mentioned tariffs as a reason for their purchases, the report noted, citing sales associates.



Ryan Reith, a senior research analyst for IDC, noted that Apple, like other hardware companies, typically keeps only four to eight weeks of inventory in stock, and with demand surging, the company may not have enough units to last until the expected <a href="https://www.benzinga.com/tech/25/03/44348175/apples-iphone-17-air-to-usher-in-new-era-of-slimmer-portless-models">new iPhone launch in September</a>.



Allison Post, a 69-year-old health writer, upgraded her six-year-old iPhone 8 after the tariff announcement. "The tariffs for sure pushed me out the door," she said, noting that she also convinced her husband to purchase a new MacBook. "Why pay what might turn out to be double?"



Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.



Why It Matters: According to TechInsights, the tariffs could raise the manufacturing cost of an iPhone by more than 45%, increasing the price from $580 to $850 per unit.



While it's unclear whether Apple will absorb these additional costs or pass them on to consumers, the possibility of price hikes has led many to act now.



Apple relies heavily on Chinese manufacturing for its iPhones, which account for approximately 50% of the company's revenue. iPhone sales for the <a href="https://in.benzinga.com/news/earnings/25/01/43355688/apple-q1-earnings-revenue-beat-eps-beat-iphone-sales-slip-installed-base-climbs-to-all-time-high-our-best-quarter-ever">first quarter totaled $69.14 billion</a>, a slight decrease from $69.7 billion during the same period last year.



Apple is also reportedly increasing its <a href="https://www.benzinga.com/25/04/44677880/apple-reportedly-plans-to-move-more-iphone-production-to-india-amid-trump-tariff-fearscould-this-solve-the-300-price-hike-on-550-hardware">iPhone production in India</a> to help cushion the financial blow from President Trump's rising tariffs on Chinese imports.



Price Action: Apple's stock has declined roughly 25.59% year-to-date, closing at $181.46 on Monday, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



Benzinga Edge Stock Rankings gives Apple (AAPL) a growth score of 45.04%. Curious how it stacks up against other stocks? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here for the full breakdown</a>.



Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/25/01/43373775/tim-cook-praises-chinas-deepseek-for-driving-efficiency-stresses-apples-prudent-and-deliberate-approach-toward-capital-expenditure" target="_blank" rel="noreferrer noopener">Tim Cook Praises China&#8217;s DeepSeek For Driving Efficiency, Stresses Apple&#8217;s ‘Prudent And Deliberate&#8217; Approach Toward Capital Expenditure</a></li>
</ul>



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Image via Shutterstock

Media

Apple Customers Flock To Stores As Tariffs Threaten To Drive iPhone Prices Up By 45%: Report

On Monday, April 7th, U.S. markets closed mixed; U.S. stocks dropped Monday as fears of economic slowdown and rising inflation grew, sparked by President Trump&#8217;s stance on tariffs against China.



The S&amp;P 500 and Dow hit new lows before briefly rallying, only to fall again. Market volatility soared, and investors lost confidence in Trump&#8217;s trade strategy, leading to massive losses and uncertainty.



In economic data, the Manheim Used Vehicle Value Index slipped by 0.7% in March compared to the previous month, continuing the same rate of decline seen in February.



Most S&amp;P 500 sectors fell Monday, led by real estate, materials, and utilities, while communication services and tech stocks ended higher.



The Dow Jones Industrial Average declined 0.91% to 37,965.60, the S&amp;P 500 dropped 0.23% to 5,062.25, while the Nasdaq Composite gained 0.10% to close at 15,603.26.



Global markets rebounded Tuesday after heavy losses, with Asian, European, and U.S. stocks stabilizing amid hopes for trade talks. Despite some optimism, volatility remained high as tariff tensions persisted.



Asia Markets Today



<ul>
<li>On Tuesday, Japan&#8217;s Nikkei 225 closed the session higher by 6.01% at 33,008.50, rebounding sharply from recent lows as investors snapped up oversold stocks, encouraged by signs of a Wall Street recovery. Gains were led by tech, semiconductor, and banking shares, while futures trading was briefly paused due to a circuit breaker trigger.</li>



<li>Australia&#8217;s S&amp;P/ASX 200 was up 2.27% and closed at 7,510.00, led by gains in the IT, Gold and Energy sectors.</li>



<li>India&#8217;s Nifty 50 was up 1.63% to 22,523.80, and Nifty 500 gained 1.81% to 20,472.30.</li>



<li>China&#8217;s Shanghai Composite rose 1.58% to 3,145.55, and Shanghai Shenzhen CSI 300 increased 1.71% to 3,650.76.</li>



<li>Hong Kong&#8217;s Hang Seng Index gained 1.51% to 20,127.68.</li>



<li>China and Hong Kong stocks rebounded Tuesday after a sharp selloff, supported by stronger regional markets and Beijing&#8217;s market-stabilizing efforts. Beijing vowed to resist U.S. &#8220;blackmail&#8221; as tariff tensions escalated, while China&#8217;s sovereign fund pledged continued market support.</li>
</ul>



Eurozone at 05:45 AM ET



<ul>
<li>The European STOXX 50 was up 0.93%.</li>



<li>Germany&#8217;s DAX gained 1.20%.</li>



<li>France&#8217;s CAC 40 rose 1.00%.</li>



<li>U.K.&#8217;s FTSE 100 index traded higher by 1.66%.</li>
</ul>



Commodities at 05:45 AM ET



<ul>
<li>Crude Oil WTI was trading higher by 0.23% at $60.82/bbl, and Brent was up 0.22% at $64.36/bbl.</li>



<li>Natural Gas slid 0.38% to $3.643.</li>



<li>Gold was trading higher by 1.59% at $3,020.79, Silver was up 1.90% to $30.165, and Copper rose 2.41% to $4.2860.</li>
</ul>



U.S. Futures at 05:45 AM ET



Dow futures were up 2.09%, S&amp;P 500 futures gained 1.61%, and Nasdaq 100 futures rose 1.34%.



Forex at 05:45 AM ET



<ul>
<li>The U.S. Dollar Index declined 0.25% to 103.24, USD/JPY was up 0.19% to 147.18, and USD/AUD gained 0.08% to 1.6551.</li>



<li>The U.S. dollar fell Tuesday as hopes of tariff talks lifted global stocks and risk currencies. Safe havens like the yen rose, while China&#8217;s yuan hit a 2023 low amid trade tensions.</li>
</ul>



Photo via Shutterstock

Asia

Emerging Markets

Eurozone

Commodities

Forex

ADIV

AGOV

ASHR

BBEU

BOIL

CQQQ

EEMA

FLAX

IEMG

IEUR

KDIV

SPEM

USDU

Global Markets Rebound In Relief Rally, Gold Back To $3,000

Jim Cramer expressed skepticism about Monday&#8217;s market rebound, calling it &#8220;strange&#8221; following nine consecutive down days in futures trading.



What Happened: &#8220;We don&#8217;t want to see the futures up this much. So strange. We have come in down every night for 9 nights. Now the futures are up huge. Where are the sellers. Things aren&#8217;t &#8216;better&#8217; now unless we are at levels people, at last, like,&#8221; CNBC&#8217;s &#8216;Mad Money&#8221; host Cramer wrote on X on Monday.



Investors should note that despite Cramer&#8217;s weekend warnings of a potential &#8220;Black Monday&#8221; scenario reminiscent of the 1987 crash, U.S. markets managed to avoid a complete meltdown.



The Dow Jones Industrial Average dropped 349 points, or 0.91%, to close at 37,965 after falling more than 1,700 points earlier in the session. The S&amp;P 500 slipped 0.23% to finish at 5,062.25, recovering from a session low that saw a 4.7% decline. 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We don&#39;t want to se the futures up this much. So strange. We have come in down every night for 9 nights. Now the futures are up huge. Where are the sellers. Things aren&#39;t &quot;better&quot; now unless we are at levels people, at last, like.&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1909410023681204517?ref_src=twsrc%5Etfw">April 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Meanwhile, the Nasdaq Composite edged up 0.1% to 15,603 as investors scooped up shares of tech giants such as Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>).



Don&#8217;t Miss:



<ul>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart, and Target —<a href="https://benzingapartners.go2cloud.org/aff_c?offer_id=518&amp;aff_id=1&amp;tblci=GiDztrPhRgf66i_FsvfOfYo_Yn9p12IB6nL8nUpMGNC31yDvwVook6q8vfDMmLc4MO-ISg"> Many are rushing to grab 4,000 of its pre-IPO shares for $0.26/share</a>.</li>



<li>Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://benzingapartners.go2cloud.org/aff_c?offer_id=523&amp;aff_id=1&amp;tblci=GiDztrPhRgf66i_FsvfOfYo_Yn9p12IB6nL8nUpMGNC31yDvwVook6q8vfDMmLc4MO-ISg"> your last chance to become an investor for $0.80 per share.</a></li>
</ul>



The dramatic <a href="https://www.benzinga.com/news/25/04/44671308/stock-market-surge-evaporates-as-headline-roulette-plagues-traders-fake-news-white-house-says-in-response-to-90-day-tariff-pause">intraday recovery came amid speculation</a> of a <a href="https://www.benzinga.com/news/25/04/44671308/stock-market-surge-evaporates-as-headline-roulette-plagues-traders-fake-news-white-house-says-in-response-to-90-day-tariff-pause">possible 90-day tariff pause</a> by President Donald Trump&#8216;s administration, which briefly sent stocks surging. However, the White House later told CNBC that reports of a tariff reprieve were &#8220;fake news,&#8221; causing indexes to pull back.



Why It Matters: Before Monday&#8217;s session, Cramer had drawn parallels to the 1987 crash, noting similar market patterns. &#8220;Same damned pattern; that thursday, that friday&#8230;.. that Monday?&#8221; he posted on X over the weekend, though he acknowledged that circuit breakers implemented since 1987 could &#8220;slow things down&#8221; <a href="https://in.benzinga.com/markets/25/04/44659901/jim-cramer-sees-same-pattern-as-1987-black-monday-crash-wonders-what-happens-on-monday">during any potential crash</a>.



The market volatility follows Trump&#8217;s recent announcement of sweeping reciprocal tariffs on numerous countries, which sparked the worst week for stocks since the COVID-19 pandemic and raised concerns about inflation, weakened demand, and recession risks.



By Monday evening, futures had rebounded sharply, signaling continued volatility in an uncertain trading environment. S&amp;P 500 Index Futures rose 1.34% to 5,165, Dow Jones Industrial Average Futures jumped 1.73% to 38,826, and Nasdaq-100 Futures gained 1.14% to 17,763, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.



Read Next:



<ul>
<li>Invest in the future of digital engagement —<a href="https://benzingapartners.go2cloud.org/aff_c?offer_id=559&amp;aff_id=1&amp;tblci=GiDztrPhRgf66i_FsvfOfYo_Yn9p12IB6nL8nUpMGNC31yDvwVook6q8vfDMmLc4MO-ISg"> own a piece of the $100 billion Metaverse for $500</a>.</li>



<li>The $1.3 billion startup investment boom:<a href="https://benzingapartners.go2cloud.org/aff_c?offer_id=551&amp;aff_id=1&amp;aff_sub=advertorial&amp;tblci=GiDztrPhRgf66i_FsvfOfYo_Yn9p12IB6nL8nUpMGNC31yDvwVook6q8vfDMmLc4MO-ISg"> How this company's explosive growth is opening doors for everyday investors with a new $500 minimum</a>.</li>
</ul>



Image via Shutterstock



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

PLTR

Jim Cramer Says Market Rebound Feels 'Strange' After Nine Nights Of Losses: 'Things Aren't Better' As Stock Futures Surge Over 1%

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly shifting more of its iPhone production to India to mitigate the financial impact of President Donald Trump's escalating tariffs on Chinese goods, potentially <a href="https://www.benzinga.com/tech/25/04/44655937/trump-tariffs-could-spike-iphone-prices-to-almost-2300-if-apple-decides-to-pass-on-the-costs-to-buyers">offsetting the projected 30% to 40% price</a> increase on its device.



What Happened: Apple plans to ship more iPhones from India to the U.S. to avoid the high costs caused by new tariffs on Chinese-made products, <a href="https://www.wsj.com/tech/apple-iphone-production-china-tariffs-6cc37f40">reported</a> the Wall Street Journal, citing people familiar with the matter.



The move comes after Trump's new tariff package raised duties on Chinese imports to at least 54%, significantly affecting tech companies that rely on Chinese-made components.



See Also:&nbsp;<a href="https://www.benzinga.com/media/25/03/44508019/tesla-and-other-us-robotics-giants-demand-federal-strategy-to-compete-with-chinas-138-billion-push-warn-america-will-lose-the-race-without-it" target="_blank" rel="noreferrer noopener">Tesla And Other US Robotics Giants Demand Federal Strategy To Compete With China&#8217;s $138 Billion Push — Warn America Will Lose The Race Without It</a>



The tariff on Chinese goods could increase Apple's hardware cost for an iPhone 16 Pro by around $300. The iPhone 16 Pro Max, currently $1,599, might reach nearly $2,300 with a 43% price hike.



Experts warn that this price hike could make the device less competitive in the U.S. market.



Bank of America analyst Wamsi Mohan notes that Apple was already on track to manufacture 25 million iPhones in India this year, with about 10 million intended for the local Indian market.



If Apple redirects these production units to the U.S., it could supply up to 50% of the American market's demand for the device.



Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.



Why It Matters: The iPhone is Apple's flagship product, accounting for roughly half of the company's total revenue. In the first quarter, <a href="https://in.benzinga.com/news/earnings/25/01/43355688/apple-q1-earnings-revenue-beat-eps-beat-iphone-sales-slip-installed-base-climbs-to-all-time-high-our-best-quarter-ever">iPhone sales came in at $69.14 billion</a>, down from $69.7 billion in the same period last year.



Apple has been working to expand its manufacturing footprint in India for several years, starting with older models and gradually incorporating newer ones.



While India's tariffs are more favorable than China's, Apple's primary manufacturing base remains in China due to the country's robust supplier network and skilled labor force.



Although Apple has made efforts to diversify its supply chain, with additional production in India and other countries like Vietnam, Trump's new tariffs continue to challenge the company's ability to maintain competitive pricing.



Price Action: Apple's stock has dropped approximately 25.59% so far this year, closing at $181.46 on Monday, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



Benzinga Edge Stock Rankings assigns Apple (AAPL) a growth score of 45.04%. Want to see how it compares to other stocks? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here for the full breakdown</a>.



Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/25/01/43373775/tim-cook-praises-chinas-deepseek-for-driving-efficiency-stresses-apples-prudent-and-deliberate-approach-toward-capital-expenditure" target="_blank" rel="noreferrer noopener">Tim Cook Praises China's DeepSeek For Driving Efficiency, Stresses Apple's ‘Prudent And Deliberate' Approach Toward Capital Expenditure</a></li>
</ul>



Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: Shutterstock

Apple Reportedly Plans To Move More iPhone Production To India Amid Trump Tariff Fears: Could This Solve The Potential 40% Price Hike?

The CNN Money Fear and Greed index showed some easing in the overall fear level, while the index remained in the &#8220;Extreme Fear&#8221; zone on Monday.



U.S. stocks settled mixed on Monday, with the Dow Jones index falling for the third straight session.



Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares fell around 2.6% on Monday, while Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) lost 3.7% during the session.



On Truth Social, Trump stated that China had imposed retaliatory tariffs of 34%, on top of what he described as already record-setting tariffs, despite prior warnings that such measures would be met with significantly higher U.S. tariffs. He added that if China did not reverse the 34% hike by April 8, the United States would respond with additional tariffs of 50%, effective the following day.



On the economic data front, the Manheim Used Vehicle Value Index fell 0.7% month-over-month in March, matching the pace of decline in the previous month.



Most sectors on the S&amp;P 500 closed on a negative note, with real estate, materials, and utilities stocks recording the biggest losses on Monday. However, communication services and information technology stocks bucked the overall market trend, closing the session higher.



The Dow Jones closed lower by around 349 points to 37,965.60 on Monday. The S&amp;P 500 fell 0.23% to 5,062.25, while the Nasdaq Composite gained 0.10% at 15,603.26 during Monday's session.



Investors are awaiting earnings results from Walgreens Boots Alliance Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>), RPM International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPM#NYSE">RPM</a>), and Cal-Maine Foods Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CALM#NASDAQ">CALM</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 4.4, the index remained in the &#8220;Extreme Fear&#8221; zone on Monday, versus a prior reading of 4.0.



The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/04/44669062/top-3-health-care-stocks-that-may-crash-in-q2">Top 3 Health Care Stocks That May Crash In Q2</a> </li>
</ul>



Photo via Shutterstock

Dow Falls For 3rd Session Amid Trump's Tariff Threats As Apple, Tesla Decline: Greed Index Remains In 'Extreme Fear' Zone

Digital asset investment firm Galaxy Digital&nbsp;announced Monday that it has secured approval from&nbsp;the U.S. Securities and Exchange&nbsp;Commission for its S-4 registration statement, paving the way for its domestication&nbsp;to Delaware and Nasdaq listing.



What Happened: Galaxy CEO Mike Novogratz shared the news in an X post, deeming it a &#8220;big milestone&#8221; for the company.



&#8220;We're on track to list on Nasdaq shortly after our shareholder vote on May 9, contingent on completing our reorganization,&#8221; Novogratz said.



Post the approval of shareholders and the Toronto Stock Exchange, where it is currently listed, the firm anticipates listing on the Nasdaq Stock Exchange under the ticker GLXY. 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Big milestone for <a href="https://twitter.com/galaxyhq?ref_src=twsrc%5Etfw">@GalaxyHQ</a>! Our registration statement is now effective with the SEC. We're on track to list on Nasdaq shortly after our shareholder vote on May 9, contingent on completing our reorganization. Let's go! <a href="https://t.co/bbIgQNnMxH">https://t.co/bbIgQNnMxH</a>&mdash; Mike Novogratz (@novogratz) <a href="https://twitter.com/novogratz/status/1909353554730426651?ref_src=twsrc%5Etfw">April 7, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/04/44674867/is-now-the-time-to-buy-bitcoin-tariffs-recession-fears-and-predictions-for-btcs-comeback" target="_blank" rel="noreferrer noopener">Is Now the Time To Buy Bitcoin? Tariffs, Recession Fears and Predictions for BTC&#8217;s Comeback &#8211; Benzinga</a>



Galaxy is headquartered in New York City, with its registered office in the Cayman Islands. The firm offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization.



Why It Matters: This development comes after Galaxy Digital <a href="https://in.benzinga.com/markets/cryptocurrency/25/03/44534582/galaxy-digital-to-pay-200-million-in-terra-luna-settlement-with-new-york-attorney-general">agreed to pay $200 million</a> to settle allegations that it failed to disclose its financial interests while promoting the now-defunct Terra (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/luna/usd">LUNA</a>) cryptocurrency. 



Galaxy&#8217;s U.S. listing ambitions coincided with similar moves by other major cryptocurrency-related companies. Circle, the issuer of the world's second-largest stablecoin, USD Coin (CRYPTO: USD), f<a href="https://in.benzinga.com/markets/cryptocurrency/25/04/44600089/circle-issuer-of-the-worlds-second-largest-stablecoin-files-for-ipo-amid-trumps-support-for-dollar-pegged-cryptos">iled for an IPO</a> last week to list its shares on the New York Stock Exchange&nbsp;under the ticker symbol &#8220;CRCL.&#8221;



Cryptocurrency exchange Kraken <a href="https://in.benzinga.com/markets/cryptocurrency/25/03/44217932/crypto-exchange-kraken-sets-sights-on-2025-initial-public-offering">was also preparing to go public</a> as early as the first quarter of next year.



Read Next:&nbsp;



<ul>
<li><a href="https://benzinga.com/markets/cryptocurrency/25/04/44672120/xrp-down-10-in-a-single-day-is-the-worst-over" target="_blank" rel="noreferrer noopener">XRP Down 10% In A Single Day: Is The Worst Over?</a></li>
</ul>



Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>



Photo courtesy: Shutterstock

Cryptocurrency

$LUNA

Another Crypto Firm Set To Go Public: Galaxy Digital Foresees Nasdaq Listing Soon After SEC Approves Delaware Move

U.S. President Donald Trump doubled down on his aggressive trade tariff strategy on Monday while signaling openness to potential "fair deals" with several countries during a high-profile meeting at the White House with <a href="https://www.benzinga.com/topic/israel">Israeli Prime Minister Benjamin Netanyahu.</a>



Netanyahu announced that Israel is committed to eliminating all trade barriers and tariffs with the United States, pledging to erase Israel's trade surplus and deepen bilateral commerce.



"We want to eliminate the trade deficits with the U.S.," Netanyahu said. "We will eliminate any trade barriers. We are going to eliminate the tariffs—and rapidly."



Trump praised the Israeli leader's announcement but didn't offer reciprocal tariff reductions, instead promising, "We'll take good care of our dear friends." 



Still, the president made it clear that no country would be exempt from the broader reset in America's global trade posture.



<h3 class="wp-block-heading">Tariffs Here To Stay And Possibly Permanently</h3>



"We have been ripped off by a lot of countries over the years," Trump said. "We can't do it anymore."



Asked whether he would consider a pause in tariffs, Trump firmly replied, "We are not looking into that. We want to sign fair deals with countries." 



He indicated that the tariffs are not just staying—they may become permanent unless foreign governments meet U.S. demands. "Virtually every country wants to negotiate," Trump said. "They are all offering things to us because they are experiencing a lot of hurt."



Trump portrayed the current global environment as a unique opportunity to restructure the U.S. economy through aggressive trade actions. "We have an opportunity to reset the table on trade. It's the only chance we have."



According to Trump, the United States was the richest and strongest power on earth between 1870 and 1913 &#8211; a period he credited to the nation's reliance on high tariffs and absence of income taxes, which he suggested created the ideal foundation for industrial dominance.



"If there are no fair deals, nations can't participate in the U.S. economy," Trump warned. "We're going to get fair deals with every nation."



<h3 class="wp-block-heading">Japan And China Face Sharp Criticism</h3>



Several nations were singled out for criticism, with Japan and China receiving particular attention. Trump noted ongoing trade imbalances with Japan, suggesting that while Japanese vehicles dominate the U.S. market, American cars still face significant restrictions entering Japan.



With respect to China, the tone shifted from frustration to confrontation.



Trump accused China of applying tariffs "34% above what their stupid tariff rate is" and warned that a 50% U.S. surcharge would be added on top of existing tariffs if Beijing does not reduce its barriers by April 8.



He called China "essentially a closed country" but added that he hoped to maintain good relations with President Xi Jinping.



<h3 class="wp-block-heading">The European Union Targeted For ‘Unfair' Trade Practices</h3>



As for the EU, Trump dismissed its zero-for-zero tariff proposal as insufficient. "It's not enough," he said.



&#8220;The EU was formed to damage the U.S. They took advantage of us." He cited a $350 billion trade deficit with the bloc and accused it of blocking U.S. goods through monetary and non-monetary tariffs.



"They don't take our cars, our agricultural products, they don't take anything," Trump said.



He further criticized EU regulatory standards, describing them as covert trade barriers. "They come up with rules and standards—non-monetary tariffs—which block us," Trump argued, while also accusing European officials of manipulating their currency to gain export advantages.



He indicated that energy will be a critical weapon in future trade negotiations. "They need our energy, and they will commit to buy our energy. We have more energy than any other country on earth," Trump said.



<h3 class="wp-block-heading">Iran's Nuclear Program And A Clear Red Line</h3>



While the spotlight remained on tariffs, Trump also briefly addressed national security, particularly Iran. Asked whether the U.S. would consider military action to stop Iran's nuclear program, Trump replied with a warning that hinted at the use of force. 



"If the talks aren't successful with Iran, I think Iran is going to be in great danger," he said. "They can't have a nuclear weapon. That's all there is."



<h3 class="wp-block-heading">Market Reactions</h3>



The S&amp;P 500 — tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) — slipped 0.2% in a volatile session that saw the index swing more than 400 points, or roughly 8%, intraday. 



The Nasdaq 100 unexpectedly closed in the green, rising 0.2% and snapping a two-day losing streak. Meanwhile, the Dow Jones Industrial Average fell 1%, extending its three-day decline to 10% — the sharpest drop since March 2020.



Read now: 



<ul>
<li><a href="https://www.benzinga.com/25/04/44673238/apple-faces-eps-hit-from-tariffs-while-doubleverify-and-viant-stay-shielded-with-virtual-revenue-models-analyst">Analyst Forecasts Tariffs Impact On Apple&#8217;s Profit And Highlights 2 Software Stocks That Are Safeguards</a></li>
</ul>



Photo: Shutterstock

Politics

Econ #s

Trump Vows To 'Reset' Global Trade, Warns Iran Faces 'Great Danger' If Talks Fail

Despite Wall Street continuing to tumble at the start of the second quarter of 2025, a small group of S&amp;P 500 stocks has remained nearly untouched by the chaos triggered by <a href="https://www.benzinga.com/topic/tariffs">Donald Trump's tariff policies.</a>



Stocks that delivered standout gains in the first quarter have held their ground through the opening week of the second quarter, showing resilience as the broader market sank under pressure from tariffs and softening earnings outlooks.



The five best-performing S&amp;P 500 names in Q1 2025 — CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), Philip Morris International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>), Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), Cencora Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COR#NYSE">COR</a>) and Vertex Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) — have seen only minimal declines in recent days, defying a sharp 10% drop in the S&amp;P 500 index fueled by mounting trade tensions and concerns over recession. 



<h3 class="wp-block-heading">Quarterly Stars In A Cloudy Market</h3>



Let's break it down:



<ul>
<li>CVS Health soared 50.9% in Q1, posting its best quarterly gain since 1975. While the S&amp;P 500 dropped 10% in the first week of April, CVS is only down 5% in Q2.</li>



<li>Philip Morris jumped 31.9% last quarter, reaching multiple record highs and logging its second-best quarter since going public in 2008. PM is down 4.8% thus far in April.</li>



<li>Newmont rode the gold wave. With gold prices up 19%, the mining giant surged 29.7%, its strongest 3-month performance since early 2020. NEM fell 7.2% in Q2, yet showed a more contained drop than the broader market.</li>



<li>Cencora, formerly AmerisourceBergen, posted a 23.8% rise, and remains up 0.2% this month, dodging the tariff-driven downturn.</li>



<li>Vertex Pharmaceuticals climbed 21% in Q1, and has stayed flat so far in Q2, showing impressive stability in biotech.</li>
</ul>



<h3 class="wp-block-heading">But How Much More Room To Run?</h3>



Despite their impressive runs, future gains may be limited. Analyst consensus shows only Newmont and CVS have potential upside of 25.8% and 13.2%, respectively, based on median price targets. 



For the others, the path forward looks far less compelling. With valuations already stretched and macroeconomic risks mounting — from renewed trade tensions to signs of weakening corporate margins — the potential for further gains could quickly evaporate if analysts begin slashing forecasts in the coming weeks.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><thead><tr><th>Company</th><th>Q1 2025 Price Change</th><th>YTD Price Change</th><th>Median Target Upside</th></tr></thead><tbody><tr><td>CVS Health (CVS)</td><td>+50.9%</td><td>+43.71%</td><td>+13.16%</td></tr><tr><td>Philip Morris (PM)</td><td>+31.9%</td><td>+26.02%</td><td>+2.86%</td></tr><tr><td>Newmont Corporation (NEM)</td><td>+29.7%</td><td>+21.77%</td><td>+25.77%</td></tr><tr><td>Cencora Inc. (COR)</td><td>+23.8%</td><td>+23.78%</td><td>+0.68%</td></tr><tr><td>Vertex Pharmaceuticals (VRTX)</td><td>+21.0%</td><td>+19.20%</td><td>+6.66%</td></tr></tbody></table><figcaption class="wp-element-caption">Data as of April 7, 2025</figcaption></figure>



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44667104/speculators-raise-wagers-on-fed-emergency-rate-cuts-as-theories-of-self-induced-crash-gather-pace">Emergency Fed Rate Cut Odds Spike As Trump Says &#8216;No Inflation,&#8217; Calls for Immediate Action</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Education

VRTX

These 5 S&P 500 Winners Held Strong In Q1 — Can The Rally Continue?

Following the Trump Administration announcing <a target="_blank" href="https://www.benzinga.com/topic/tariffs" rel="noreferrer noopener">wide-ranging tariffs</a> on all imported products, with rates starting at 10% and going higher depending on the country, Needham published last Thursday, Friday, and Monday&#8217;s initial reactions to their coverage areas on who has the most exposure.



Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) stock <a target="_blank" href="https://www.benzinga.com/analyst-ratings/price-target/25/04/44651515/apple-analyst-holds-the-line-after-300-billion-rout-what-could-turn-stock-around" rel="noreferrer noopener">fell nearly 10% Thursday</a>, losing about $300 billion of market cap, owing to new tariffs. However, unless Apple gets an exemption, analyst Laura Martin calculated that Apple&#8217;s adjusted EPS will fall by over $2, down 28% from the analyst&#8217;s current fiscal 2025 EPS estimate of $7.32.



Also Read: <a target="_blank" href="https://www.benzinga.com/news/global/25/04/44645946/microsoft-halts-data-center-expansions-due-to-semiconductor-tariff-concerns-ai-overcapacity-fears" rel="noreferrer noopener">Microsoft Halts Data Center Expansions Due To Semiconductor Tariff Concerns, AI Overcapacity Fears</a>



By implication, Wall Street is betting there is a 30% chance Apple will get an exemption because Trump gave it an exemption in 2018.



The company committed to spending $500 billion in the U.S. over 4 years, creating 20,000 new jobs, and it is the most iconic U.S. brand in the world.



EPS down 28% is not the worst case. China retaliates against the U.S. by banning all or some Apple product sales in China, which were 17% of Apple&#8217;s total sales in fiscal 2024, which can pose a bigger threat.



Martin noted that DoubleVerify Holdings, Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DV#NYSE">DV</a>) business model is based on a fixed fee, not a revenue share of ad spending. The analyst noted that 100% of DoubleVerify&#8217;s revenue is virtual.



As per Martin, 30% of the company revenue is from outside the U.S., which is yet to be impacted. DoubleVerify verifies advertising in both Walled Gardens and the Open Internet, so if advertising happens anywhere, DoubleVerify should earn its fees.



DoubleVerify is well diversified across verticals, without significant exposure to industrials, autos, or durables, which are the most at risk from tariffs and fundamental growth drivers like new customers from moat, more up-sells of additional products to existing customers, incremental traction on DoubleVerify&#8217;s Meta pre-bid product, and new business wins could offset tariff-related weakness.&nbsp;&nbsp;



The impact of new tariffs on Viant Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DSP#NASDAQ">DSP</a>) is 100% advantageous (i.e., virtual), with no hard goods. Viant Technology is missing the three most tariff-exposed ad categories: industrials, durables, and national autos.



Viant Technology&#8217;s largest ad categories are U.S. healthcare, U.S. universities, education, and travel/hospitality. Together, local autos plus CPG were less than 20% of total ad revenue in 2024, Martin estimated. So far, prior tariffs have only negatively impacted ad spending on avocados from Mexico.



Price Action: AAPL stock is trading lower by 4.89% to $179.26 at the last check on Monday.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/asia/25/04/44668137/nio-power-in-deal-talks-with-tesla-battery-supplier-catl" target="_blank" rel="noreferrer noopener">Nio Power In Deal Talks With Tesla Battery Supplier CATL</a></li>
</ul>



Image via Shutterstock

Analyst Forecasts Tariffs Impact On Apple's Profit And Highlights 2 Software Stocks That Are Safeguards

Bets on an emergency Federal Reserve rate cut are rising sharply Monday, as mounting fears of a looming U.S. recession and sudden, severe stock market crashes &#8211; already erasing trillions in market value &#8211; prompt speculators to anticipate swift central bank action <a href="https://www.benzinga.com/topic/federal-reserve">ahead of scheduled meetings.</a>



On the CFTC-regulated prediction market platform Kalshi, contracts betting on "the number of emergency rate cuts this year" have gained notable traction in recent hours.



Odds eyeing two emergency cuts equivalent to 50 basis points in rate easing have spiked to 10% from nearly null chances a week ago. The last time the Fed executed an emergency cut was in March 2020, when it slashed rates by 50 basis points amid the escalating COVID-19 crisis.



A $10 bet on two emergency rate cuts—equivalent to a half-point drop in interest rates—would return $90 if realized. 



Meanwhile, Fed futures are now pricing in five rate cuts by the end of the year, according to the CME FedWatch tool.



Traders are growing wary of cracks in the U.S. economy. The sudden rise in rate cut wagers reflects a broader fear: that either markets or the macroeconomic picture could deteriorate so quickly that the Fed is forced to step in ahead of schedule.



<iframe loading="lazy" src="https://kalshi.com/external-widgets/events/KXEMERCUTS-25?color_scheme=light&#038;widget_size=medium&#038;variant=a&#038;ids=KXEMERCUTS-25-T0&#038;ids=KXEMERCUTS-25-T2&#038;ids=KXEMERCUTS-25-T1&#038;utm_campaign=benzinga_widget" width="488px" height="196px" style="border:0"></iframe>



<h3 class="wp-block-heading">Conspiracy Theories of A Self-Engineered Recession Emerge</h3>



Fueling the speculative fire are political theories that the Trump administration may be intentionally inducing a recession. 



The logic? Lower inflation, lower interest rates and stronger control over monetary conditions.



On Monday, Trump took to Truth Social with a bold message: "Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION." He also emphasized the revenue generated from tariffs, claiming the U.S. is "bringing in Billions of Dollars a week from the abusing countries."



Last Friday, Trump openly urged Fed Chair Jerome Powell to act swiftly. "This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates. He is always &#8216;late,&#8217; but he could now change his image, and quickly."



Peter Navarro, former trade adviser, downplayed the recession fears entirely, stating, "Any discussion of recession seems silly at this moment."



Larry Tentarelli, chief technical strategist at Blue Chip Daily Trend Report, now sees a 50% base-case probability for a 2025 recession — especially if the "tariff news cycle remains unchanged." 



Tentarelli warns that the absence of a so-called "Fed put" — the idea that the Fed will always step in to stabilize markets — leaves the economy more exposed than usual.



Goldman Sachs has revised its recession odds up to 45%, while JPMorgan has gone even higher, projecting a 60% chance.



<h3 class="wp-block-heading">Yardeni Pushes Back On Political Manipulation Narrative</h3>



Not all agree with the conspiracy framing. Market veteran Ed Yardeni dismissed the theory that Trump is engineering a downturn to drive rates lower. 



Still, he outlined how the idea has gained traction. First, a recession could weaken the dollar, stimulate exports and shrink the U.S. trade deficit.



Subsequently, Trump's tariffs could push manufacturers back to U.S. soil while reducing the foreign demand for American agricultural products.



In the end, lower inflation from these forces could justify a looser Fed policy and potentially lower mortgage rates.



Still, Yardeni warned that even if these theories are unfounded, the consequences of poor economic management are real and potentially devastating.



&#8220;We believe that Wall Street and Main Street prosper and suffer together. The Trump administration disagrees,&#8221; he said in a note Monday.



The S&amp;P 500 index—as tracked by the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)—has lost 13% since Trump&#8217;s tariff announcement last Wednesday, notching one of the deepest and fastest selloffs in modern history.



<h3 class="wp-block-heading">Stock Market Exposure Raises Stakes For American Households</h3>



The stock market's vulnerability is perhaps the most immediate concern. According to Gallup's latest poll, 62% of U.S. adults hold some form of stock market investment. 



That figure jumps to 87% among upper-income Americans earning more than $100,000 a year, while 65% of middle-income earners also have market exposure. Among lower-income households earning below $40,000, the rate falls to 25%.



Data from the Federal Reserve shows that U.S. households and nonprofit organizations now hold a record 43.5% of their financial assets in equities. This heavy concentration means that a sharp drop in stock prices could have outsized effects on consumer spending and confidence. 



At the end of 2024, American households held $46.8 trillion in corporate equities and mutual funds. Of that, Baby Boomers alone controlled $25.2 trillion. A 20% decline in equity prices would wipe out $9.4 trillion in household wealth — including $5 trillion from Baby Boomer portfolios, many of which are meant to fund retirements.



This sets up a dangerous dynamic: if equity markets keep falling, the resulting negative wealth effect could lead to a deep contraction in consumption, hitting middle- and lower-income households the hardest.



The confluence of economic signals, political pressure and financial market stress is pushing the Federal Reserve closer to a moment of reckoning. 



Whether the recession is engineered or not, the damage is mounting. 



Read now: 



<ul>
<li><a href="https://www.benzinga.com/25/04/44662991/goldman-sachs-raises-risk-of-recession-to-45-jefferies-calls-tariffs-a-free-hall-pass-for-tech-giants-to-reset-their-goals">Goldman Sachs Raises Risk Of Recession to 45%: Jefferies Calls Tariffs a &#8216;Free Hall Pass&#8217; For Tech Giants To Reset Their Goals</a></li>
</ul>



Photo by Orhan Cam on Shutterstock

Macro Economic Events

Federal Reserve

Emergency Fed Rate Cut Odds Spike As Trump Says 'No Inflation,' Calls for Immediate Action

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