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>



Image via Shutterstock

Analyst Color

Earnings

Equities

Market Summary

News

Guidance

Futures

Treasuries

Economics

Pre-Market Outlook

Markets

Analyst Ratings

General

AAPL

AMZN

CALM

LEVI

MRVL

MSFT

NVDA

TSLA

VSAT

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

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

Tech

Media

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

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>).



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.



See Also: <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">Apple Reportedly Plans To Move More iPhone Production To India Amid Trump Tariff Fears: Could This Solve The Potential 40% Price Hike?</a>



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><a href="https://www.benzinga.com/markets/25/04/44677685/dr-doom-roubini-warns-markets-delusional-about-fed-rescue-as-trump-xi-jinping-jerome-powell-locked-in-high-stakes-standoff">&#8216;Dr. Doom&#8217; Roubini Warns Markets &#8216;Delusional&#8217; About Fed Rescue As Trump, Xi Jinping, Jerome Powell Locked In High-Stakes Standoff</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

Asia

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

Trading Ideas

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;



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<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

Government

$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

Regulations

Broad U.S. Equity ETFs

Politics

Econ #s

ETFs

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:



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<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

Movers

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

Last week, the price of WTI crude oil recorded its largest weekly loss in two years after President Donald Trump announced a tougher-than-anticipated set of tariffs, prompting swift retaliation from China, the world's<a href="https://www.benzinga.com/25/04/44663034/asia-in-freefall-hang-seng-posts-worst-drop-since-1997-europe-market-tumbles-oil-slips-gold-eases-global-markets-today-while-us-slept"> largest importer of oil.&nbsp;</a>



WTI futures fell further on Monday to just above $60 per barrel, the lowest level since April 2021, as concerns that the escalating trade war could slow the global economy and weaken energy demand.



Economists at Goldman Sachs published a note on Sunday night raising their recession <a href="https://www.benzinga.com/25/04/44665493/us-recession-countdown-has-begun-as-trump-tariffs-push-odds-to-45-goldman-sachs-warns">probability forecast </a>from 35% to 45%, citing the sharp tightening of financial conditions and a spike in policy uncertainty.



Read Next:<a href="https://www.benzinga.com/government/regulations/25/03/44517885/trump-slaps-25-tariffs-on-autos-what-it-means-for-your-next-car-purchase"> Trump Slaps 25% Tariffs On Autos: What It Means For Your Next Car Purchase</a>&nbsp;



Energy analysts at Goldman Sachs followed by further reducing their year-end oil forecasts to $62 per barrel for Brent and $58 for WTI, with additional downside expected in 2026. The analysts noted recent GDP downgrades and forecasts of a "stagnating" U.S. economy.&nbsp;



Adding to the pressure on oil prices, last week, eight OPEC+ oil producers announced nearly triple the expected production increase to 411,000 barrels per day versus the anticipated increase of just under 140,000 barrels per day next month. 



At $60 per barrel for WTI crude, prices have fallen below the $65 threshold identified by the Federal Reserve Bank of Dallas as the break-even point for Permian Basin operators like Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>). 



However, Energy Secretary Chris Wright recently said that the U.S. shale sector is capable of ramping up oil production even if prices fall to $50 per barrel.&nbsp;



In the Federal Reserve Bank of Dallas' most recent quarterly survey, leaders in the oil and gas industry <a href="https://www.benzinga.com/markets/commodities/25/03/44522105/oil-and-gas-executives-rebuke-trumps-drill-baby-drill-agenda-we-want-more-stability">expressed frustration</a> with the Trump administration.



"The administration's chaos is a disaster for the commodity markets. ‘Drill, baby, drill' is nothing short of a myth and populist rallying cry. Tariff policy is impossible for us to predict and doesn't have a clear goal. We want more stability," one exploration and production executive said.



Shares of the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) ETF, which tracks the spot price of WTI crude oil, were down nearly 15% over the past week. At the time of publication on Monday, WTI crude was trading at $60.90 per barrel. 



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/news/large-cap/25/03/44537429/cathie-wood-doubles-down-on-2600-tesla-stock-price-prediction">Cathie Wood Doubles Down On $2,600 Tesla Stock Price Prediction</a></li>
</ul>



Image: Shutterstock

Specialty ETFs

Price Target

Commodities

Global

Oil Crashes To $60 Per Barrel As Global Recession Fears Grow

A chaotic and volatile session kicked off the new week on Wall Street, with a start that offers <a href="https://www.benzinga.com/markets">little reason for optimism.</a>



The S&amp;P 500 opened with a gap below 4,900 points, then fiercely rebounded in the first hour of trading before the gains swiftly evaporated. Sentiment further deteriorated after Donald Trump adopted a more aggressive tone toward China.



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.



He also indicated that all discussions with China regarding their requested meetings would be terminated, while negotiations with other countries that had expressed interest in talks would begin immediately.



The European Union signaled openness to implementing a zero-for-zero tariff agreement on industrial goods with the United States.



By 12:40 p.m. ET, the S&amp;P 500 was down 0.8%, the Nasdaq 100 fell 0.2%, and the Dow dropped 1.4%. Every sector remained in the red, with real estate and materials leading the losses.



In commodities, gold slipped 1.2%, heading for its third consecutive session of declines, while oil prices fell 2.3% to $60 a barrel, now down 16% from last week&#8217;s highs.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), which had been spared from last week&#8217;s global market rout, joined the bloodbath over the weekend, dropping 6.4% on Sunday and holding at $78,000 on Monday.



<h2 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h2>



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Major Indices</td><td>Price</td><td>Chg %</td></tr><tr><td>Nasdaq 100</td><td>17,363.12</td><td>-0.2%</td></tr><tr><td>S&amp;P 500</td><td>5,026.51</td><td>-0.9%</td></tr><tr><td>Russell 2000</td><td>1,806.00</td><td>-1.2%</td></tr><tr><td>Dow Jones</td><td>37,781.52</td><td>-1.4%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated at 12:40 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) eased 0.7% to $502.84.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 1.2% to $378.31.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;eased 0.2% to $421.93.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.9% to 179.64.</li>



<li>The&nbsp;Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 0.1%; the&nbsp;Real Estate&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) lagged, down 2.2%.</li>
</ul>



<h3 class="wp-block-heading">S&amp;P 500&#8217;s Major Gainers</h3>



<ul>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) up 9.03% to $32.51</li>



<li>Dollar Tree, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) up 5.61% to $71.34</li>



<li>Hewlett Packard Enterprise (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) up 5.16% to $13.45</li>



<li>Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) up 4.74% to $61.89</li>



<li>EQT Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>) up 4.65% to $48.26</li>



<li>Arista Networks Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) up 4.65% to $67.36</li>



<li>Microchip Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>) up 4.64% to $37.90</li>
</ul>



<h3 class="wp-block-heading">S&amp;P 500&#8217;s Major Losers</h3>



<ul>
<li>Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) down 5.39% to $32.91</li>



<li>Eversource Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ES#NYSE">ES</a>) down 5.12% to $55.35</li>



<li>Genuine Parts Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPC#NYSE">GPC</a>) down 5.07% to $110.88</li>



<li>Lamb Weston Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>) down 5.03% to $56.03</li>



<li>AutoZone, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>) down 4.96% to $3,472.18</li>



<li>NIKE, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) down 4.80% to $54.50</li>



<li>The Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) down 4.77% to $337.01</li>
</ul>



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/04/44667862/oil-crashes-to-60-per-barrel-as-recession-fears-grow">Oil Crashes To $60 Per Barrel As Global Recession Fears Grow</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Large Cap

$BTC

ANET

DLTR

LRCX

MCHP

SMCI

XLRE

Wall Street Turmoil Deepens As Trump Threatens Massive China Tariffs, Bitcoin Wobbles At $78K: What's Driving Markets Monday?

Goldman Sachs economists have sounded the alarm on the U.S. economy, launching what they termed a &#8220;countdown to recession&#8221; as Donald Trump's aggressive tariff policy derails economic forecasts.



In a note shared Monday, the Goldman Sachs economic team led by Jan Hatzius downgraded its U.S. gross domestic product forecast for year-end 2025 to just 0.5% year-over-year, down from 1.7% previously. 



The downgrade follows a combination of shocks, including higher tariffs announced by the Trump administration, tightening financial conditions and rising geopolitical friction, that the bank says are disproportionately affecting lower-income Americans and threatening to derail the U.S. economy.



Traders on CFTC-regulated betting platform Kalshi currently price in a 66% chance of a U.S. recession this year, up from 40% last week.



<iframe loading="lazy" src="https://kalshi.com/external-widgets/events/RECSSNBER-25/markets/RECSSNBER-25?color_scheme=light&#038;widget_size=large&#038;utm_campaign=benzinga_widget" width="552px" height="400px" style="border:0"></iframe>



<h3 class="wp-block-heading">Trade War Reloaded? What's Behind The Rising Recession Call</h3>



Goldman Sachs said its baseline scenario still assumes some moderation in tariff implementation. Still, if most of the April 9 tariffs are enacted as planned, the effective U.S. tariff rate could surge by 20 percentage points.



"Our forecast had already assumed forceful retaliation by foreign governments, but we had not accounted for the effects of a consumer-led response," the team said, pointing to anticipated foreign consumer boycotts and reduced tourism flows to the United States, which alone could shave 0.1 to 0.2 percentage points off 2025 GDP.



Additionally, uncertainty around trade policy is compounding the issue. "Much of the very recent rise in uncertainty was related to President Trump's ‘reciprocal' tariff plan," Goldman said, adding that despite having more details, ambiguity around international responses and the scope of future tariff increases remains high.



<h3 class="wp-block-heading">Investment And Hiring Set To Stall</h3>



Business investment, a key driver of economic growth, is now expected to flatline over the next 12 months. According to Goldman Sachs' models, there is now a 45% probability that capital expenditures will decline during that period.



The economic team also sees looming pressure on federal, state and local government spending, especially in sectors like healthcare, education and infrastructure, which is amplifying the drag on the economy.



"We now expect roughly flat business investment over the next year," Goldman said, noting that tightening financial conditions and tariff-driven uncertainty discourage companies from expanding or hiring.



Consumer spending, which makes up about 70% of the U.S. economy, is also under threat. As labor supply growth slows and job creation weakens, Goldman expects a meaningful deceleration in household consumption.



"Tariffs reduce real disposable income," the bank said, implying that higher prices for imported goods will weigh on consumer purchasing power, especially among lower-income households.



The combination of weaker hiring, stagnant investment and declining consumer confidence creates a toxic mix for growth, one that might push the economy into contraction territory if shocks continue to build.



<h3 class="wp-block-heading">Recession Risk Spurs Hedging Shift</h3>



The rise in recession probability is not just a warning signal — it&#8217;s a tactical call for investors to rethink their hedging strategies. 



Goldman Sachs analyst Karen Reichgott Fishman said the combination of diminishing U.S. economic exceptionalism and increased risk of recession supports a strategic move into safe-haven currencies.



"The loss of U.S. exceptionalism and higher recession risk argue for a shift in hedging strategy," Fishman said. "We think U.S. investors should be better off adding JPY, CHF, and even EUR exposure as protection."



Since last week&#8217;s tariff announcement, the Invesco CurrencyShares Japanese Yen Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXY#NYSE">FXY</a>) has risen by 3%, while the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 13%.



Read now: 



<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/04/44662164/us-stock-futures-slump-following-massive-tariff-induced-selloff-experts-warn-of-a-brewing-great-depression-like-pattern">US Stock Futures Drop Following Massive Tariff-Induced Selloff: Experts Warn Of A Brewing &#8216;Great Depression-Like&#8217; Pattern</a></li>
</ul>



Photo: Shutterstock

US Recession 'Countdown' Has Begun As Trump Tariffs Push Odds To 45%, Goldman Sachs Warns

Jamie Dimon, CEO of&nbsp;JPMorgan Chase &amp; Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), cautioned that the tariffs imposed by President Donald Trump could trigger inflation and decelerate the U.S. economy.



What Happened: In his yearly letter to shareholders, Dimon discussed the implications of Trump&#8217;s tariff policy announced on April 2. He warned of potential short-term effects, including inflationary impacts on both imported and domestic goods, reported <a href="https://www.cnbc.com/2025/04/07/jamie-dimon-trump-tariffs-inflation-economy.html?">CNBC</a>.&nbsp;&#8220;We are likely to see&nbsp;inflationary outcomes, not only on&nbsp;imported goods but on domestic&nbsp;prices, as input costs rise&nbsp;and demand increases on domestic&nbsp;products,&#8221; Dimon said.



Dimon expressed worries about the tariffs&#8217; potential to hinder economic growth.&nbsp;&#8220;Whether or not the menu&nbsp;of tariffs causes a recession&nbsp;remains in question, but it&nbsp;will slow down growth,&#8221; he&nbsp;stated.



Dimon also highlighted the uncertainties stemming from Trump&#8217;s tariff policy, such as its effects on global capital flows, the strength of the dollar, corporate earnings, and potential reactions from trading partners. He called for a swift resolution, stating,&nbsp;&#8220;The quicker this issue is&nbsp;resolved, the better because some&nbsp;of the negative effects increase&nbsp;cumulatively over time and would&nbsp;be hard to reverse.&#8221;



Following the negotiations, Dimon hopes that the tariffs will ultimately yield long-term benefits for the U.S.



The JPMorgan CEO warned that inflation could be more persistent than anticipated, leading to high interest rates even as the economy slows.



Despite recent declines, Dimon noted that stock and debt prices are still elevated. &nbsp;"Markets still seem to be pricing assets with the assumption that we will continue to have a fairly soft landing. I am not so sure," he wrote to the shareholders.



SEE ALSO:&nbsp;<a href="https://benzinga.com/25/04/44662021/is-tesla-cybertruck-the-biggest-automotive-blunder-in-decades-after-fords-edsel-its-a-huge-swing-and-a-huge-miss" target="_blank" rel="noreferrer noopener">Is Tesla Cybertruck The Biggest Automotive Blunder In Decades After Ford&#8217;s Edsel? &#8216;It&#8217;s A Huge Swing And A Huge Miss,&#8217; Says Expert</a>



Why It Matters: Dimon is the first major Wall Street bank CEO to publicly comment on Trump&#8217;s extensive tariff policy amid a global market downturn. Notably, the JPMorgan CEO&#8217;s remarks represent a gradual departure from his January position, where he suggested that people should "get over" tariff concerns and that they are beneficial for national security. 



By March, in a conversation with Adobe&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) CEO Shantanu Narayen at Adobe's annual summit, Dimon characterized the economy as being in a "soft landing" phase, &#8220;but there&#8217;s a lot of turbulence out there.&#8221; He underscored the <a href="https://www.benzinga.com/markets/25/03/44411483/jamie-dimon-says-theres-a-lot-of-turbulence-out-there-amid-trump-tariffs-inflation-woes-and-geopolitical-risks">uncertainty surrounding</a> President Donald Trump‘s proposed tax plan and the potential ramifications of tariffs on the global economy.



While Dimon did not point to a recession, JPMorgan Chase analyst Maia G. Crook raised the probability of a U.S. recession to 60%, up from 40% last month, calling it the &#8220;largest U.S. tax hike in nearly 60 years.&#8221;



<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/general/market-summary/25/04/44660779/sp-500-dow-jones-on-course-to-mimic-rare-consecutive-losses-not-seen-since-the-great-depre" target="_blank" rel="noreferrer noopener">S&amp;P 500, Dow Jones On Course To Mimic Rare Consecutive Losses Not Seen Since The Great Depression: What&#8217;s Driving the Fear?</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.

ADBE

Jamie Dimon, Once A Tariff Supporter, Warns Trump's New Policy Could Stall US Growth, Stoke Inflation: 'The Quicker The Issue Is Resolved, The Better'

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) just bit into <a href="https://www.benzinga.com/topic/death-cross">a Death Cross</a>, and Wall Street is reaching for the antacids. 



The Cupertino, California-based company&#8217;s stock has plunged 22.75% year to date. At $183.59, it is well below every major moving average and the technical picture looks grim.



<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=0407"><img loading="lazy" decoding="async" width="629" height="491" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07083607/Screenshot-2025-04-07-at-6.05.56-PM.png" alt="" class="wp-image-859850" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07083607/Screenshot-2025-04-07-at-6.05.56-PM.png 629w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07083607/Screenshot-2025-04-07-at-6.05.56-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=0407">Chart created using Benzinga Pro</a>



If charts could scream, this one would be yelling "bearish."



We Saw It Coming: <a href="https://www.benzinga.com/trading-ideas/technicals/25/04/44629335/apple-stock-slammed-by-trump-tariffs-is-a-death-cross-next">Apple Stock Slammed By Trump Tariffs: Is A Death Cross Next?</a>



<h2 class="wp-block-heading">Apple Stock: A Technical Meltdown In The Making</h2>



The Apple stock chart reads like a cautionary tale. The stock is now firmly under its five, 20 and 50-day exponential moving averages, a pattern that signals strong selling pressure. Its simple moving averages aren't faring any better: the eight-day, 20-day, 50-day and even the 200-day averages all tower above Apple stock, painting a consistent — and bleak — technical narrative.



The Moving Average Convergence Divergence (MACD) sits at a deeply negative 8.16, flashing a red light for future downside. And if that weren't enough, the Relative Strength Index (RSI) is a paltry 23.45 &#8211; officially in oversold territory. 



Translation? The bulls are on vacation, and the bears are moving in.



<h2 class="wp-block-heading">Tariffs Take A Bite Out Of Apple</h2>



The technical weakness coincides with fundamental fears: tariffs. Apple stock tumbled 6.3% after Wedbush Securities analyst Daniel Ives, a longtime Apple bull, slashed his price target from $325 to $250,<a href="https://www.msn.com/en-us/money/savingandinvesting/apple-stock-bull-slashes-price-target-over-trump-s-tariff-armageddon/ar-AA1CrD2i?ocid=finance-verthp-feeds"> reported</a> IBD. He warned that President Donald Trump&#8216;s so-called &#8220;tariff Armageddon&#8221; could wreak havoc on Apple's cost structure and consumer demand.



Apple is uniquely exposed with around 90% of iPhones still manufactured in China, and hefty portions of Mac and iPad production also tied to the region. Even though the company has tried to diversify its supply chain, it's still knee-deep in Chinese assembly lines—exactly where Trump's tariffs hit hardest.



<h2 class="wp-block-heading">The Cross Isn't Golden</h2>



Apple&#8217;s current trajectory flashes every warning sign in the book — from moving average breakdowns to a gut-punched RSI. While long-term investors may still see value, the short-term chart is a bearish playground. And unless the tariff clouds clear, this tech titan might be headed for more turbulence.



So, is it time to panic? Not necessarily. 



But when Apple makes a Death Cross, you might want to keep your finger near the power button.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/04/44649868/magnificent-7s-3-trillion-club-is-vacant-as-apple-stock-stumbles">Magnificent 7&#8217;s $3 Trillion Club Is Vacant As Apple Stock Stumbles</a></li>
</ul>



Image: Shutterstock

Technicals

Apple Stock's Death Cross: Is The iPhone Maker Heading For A Rotten Summer?

U.S. stock futures fell sharply on Monday after two days of decline last week. Futures of major benchmark indices were over 3% lower in premarket trading.



The selloff that started on Thursday intensified on Friday as China introduced its retaliatory measures to U.S. tariffs. As of Friday, the S&amp;P 500 was nearing the bear market zone as it closed 17.46% lower than its previous record high of 6,147.43 points.



Dow was 14.99% down from its 52-week high of 45,073.63 points, whereas the Nasdaq 100 was already in the bear market territory, 21.71% lower from its high of 22,222.61 points.



The hopes of a Fed &#8216;put&#8217; remained on standby as Jerome Powell said Friday that "It is too soon to say what will be the appropriate path for monetary policy.&#8221;



The 10-year Treasury bond yielded 3.93% and the two-year bond was at 3.51%. However, the CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections rose, showing markets pricing a 48.4% likelihood of the Federal Reserve easing the current interest rates 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>-3.61%</td></tr><tr><td>S&amp;P 500</td><td>-3.74%</td></tr><tr><td>Nasdaq 100</td><td>-4.26%</td></tr><tr><td>Russell 2000</td><td>-4.82%</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, declined in premarket on Monday. The SPY was down 4.01% to $485.03, while the QQQ declined 4.26% to $404.65, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



U.S. stocks closed Friday lower, with all sectors in the red. Financials, energy, and information technology led the S&amp;P 500 sector declines.



Friday&#8217;s economic data showed strong March nonfarm payroll growth grew 228,000, exceeding expectations, though the unemployment rate unexpectedly rose to 4.2%, and average hourly earnings increased as predicted by 0.3% monthly, and 3.8% year-over-year.



The S&amp;P 500 Index recorded its worst weekly decline since March 2020. With the S&amp;P 500 plunging 10.5% over Thursday and Friday, this marks only the fourth time such a sharp two-day drawdown has occurred in modern market history—joining October 1987, September 2008, March 2020, and now April 2025.



<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>-5.82%</td><td>15,587.79</td></tr><tr><td>S&amp;P 500</td><td>-5.97%</td><td>5,074.08</td></tr><tr><td>Dow Jones</td><td>-5.50%</td><td>38,314.86</td></tr><tr><td>Russell 2000</td><td>-4.37%</td><td>1,827.03</td></tr></tbody></table></figure>



Insights From Analysts:



The S&amp;P 500 and Dow are showing a worrying pattern of steep, consecutive drops, reminiscent of the Great Depression, according to the experts.



Carson Research&#8217;s chief market strategist, Ryan Detrick, noted on X that a 4% drop in the S&amp;P 500 on Monday would be its third straight over 4% loss, a pattern seen only three times before, all during the Great Depression.



<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">Should the S&amp;P 500 close down 4% tomorrow, that would be three days in a row it was down at least 4%. That has only happened three times in history and all were during the Great Depression. <a href="https://t.co/jEIsgoMl49">pic.twitter.com/jEIsgoMl49</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1909077635960832211?ref_src=twsrc%5Etfw">April 7, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



White Oak Consultancy&#8217;s Jason Goepfert pointed out that Dow futures suggest a third consecutive loss exceeding 3%, a pattern seen only four times during the Great Depression.



The Sentimentrader graph shared by hi, shows varied Dow performance in the weeks and months following these rare historical sell-off signals, highlighting market uncertainty even after such events.



<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">Futures indicate another loss in the Dow Industrials greater than -3%. Futures are finicky, but that&#39;d be its 3rd consecutive loss greater than -3%. Since 1896 &#8211; 129 years of history &#8211; this only occurred during the Great Depression. <a href="https://t.co/egAOcqLBC0">pic.twitter.com/egAOcqLBC0</a>&mdash; Jason Goepfert (@jasongoepfert) <a href="https://twitter.com/jasongoepfert/status/1909042602210423192?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, according to Craig Shapiro from 3-Circle Investments by The Bear Traps Report, the absence of this perceived "Trump put" or "Fed put" could trigger a swift and significant market downturn.



Shapiro argues the market sought assurance from Trump or the Fed, but recent events show both safety nets are further away than expected. He predicts Fed intervention only if the Treasury market becomes unstable.



Shapiro warned, "All this being said, the lack of the ‘put' for now means I think we are going to go significantly lower very quickly until UsT market dysfunction starts and the Fed says ‘no mas' because this will eventually bleed into economic activity and exacerbate the slowdown."



Despite growing skepticism, Stephanie Link, the chief investment strategist and the head of investment solutions at Hightower Advisors, said, &#8220;Buy.&#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">Sentiment is everything. I think I've blocked more angry folks than I've ever have done in the past few days. And I'm just trying to help. Thanks all. Buy.&mdash; Stephanie Link (@Stephanie_Link) <a href="https://twitter.com/Stephanie_Link/status/1908702854203703670?ref_src=twsrc%5Etfw">April 6, 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 this week:



<ul>
<li>On Monday, Fed Governor Adriana Kugler will speak at 10:30 a.m. ET.</li>
</ul>



<ul>
<li>February&#8217;s consumer credit data will be released by 3:00 p.m. ET.</li>
</ul>



<ul>
<li>On Tuesday, 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>



<ul>
<li>On Wednesday, February&#8217;s wholesale inventories data will be released by 10:00 a.m., and Richmond Fed President Tom Barkin will speak at 11:00 a.m. ET.</li>
</ul>



<ul>
<li>Minutes of Fed&#8217;s March FOMC meeting will be out by 2:00 p.m. ET.</li>
</ul>



<ul>
<li>On Thursday, the initial jobless claims data for the week ended April 5 and the headline and core consumer price index data for March will be announced by 8:30 a.m. ET.</li>
</ul>



<ul>
<li>Fed Governor Michelle Bowman will testify to the Senate, while Kansas City Fed President Jeff Schmid will speak at 10:00 a.m. ET.</li>
</ul>



<ul>
<li>Also, Philadelphia Fed President Patrick Harker and Chicago Fed President Austan Goolsbee will both speak at noon.</li>
</ul>



<ul>
<li>March&#8217;s monthly U.S. federal budget data will be out by 2:00 p.m. ET.</li>
</ul>



<ul>
<li>On Friday, the headline and core producer price index data for March will be released by 8:30 a.m. ET.</li>
</ul>



<ul>
<li>April&#8217;s preliminary consumer sentiment data will be announced, while St. Louis Fed President Alberto Musalem speaks at 10:00 a.m. ET.</li>
</ul>



<ul>
<li>New York Fed President John Williams will speak at 11:00 a.m. ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>Levi Strauss &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>) dropped 4.54% in premarket on Friday ahead of its earnings call after the closing bell. Analysts expect a quarterly earnings of 28 cents per share on revenue of $1.54 million.</li>
</ul>



<ul>
<li>Dave &amp; Buster&#8217;s Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAY#NASDAQ">PLAY</a>) declined 3.36% as Wall Street expects it to report earnings of 71 cents per share on revenue of 550.37 million after the closing bell.</li>
</ul>



<ul>
<li>Greenbrier Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBX#NYSE">GBX</a>) tumbled 14.49% ahead of its earnings call after the closing bell. Analysts expect a quarterly earnings of $1.78 per share on revenue of $898.53 million.</li>
</ul>



<ul>
<li>Chanson International Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHSN#NASDAQ">CHSN</a>) surged 140.07% as it reported a year-over-year increase in FY24 financial results.</li>
</ul>



<ul>
<li>China Pharma Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPHI#NYSE">CPHI</a>) fell 13.91% after reporting a 1-for-10 reverse stock split.</li>
</ul>



<ul>
<li>CECO Environmental Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CECO#NASDAQ">CECO</a>) slumped 54.55% as May River Capital acquired its Global Pump Solutions, including the Dean, Fybroc, and Sethco pump brands, now operating as Tusk Industrial.</li>
</ul>



<ul>
<li>Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) lost 6.74% after its first quarter 2025 trading update cited higher upstream taxes and increased working capital, offsetting strong gas and oil trading.</li>
</ul>



<ul>
<li>Heavyweights, Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) slid 5.13%, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) fell 4.34%, Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) was 4.26% lower, Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) dropped 4.40%, and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) plummeted 7.65%.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 3.79% to hover around $59.57 per barrel.



Gold Spot US Dollar declined 0.25% to hover around $3,029.67 per ounce. Its fresh record high stood at $3,168.04 per ounce. The U.S. Dollar Index spot was higher by 0.35% at the 102.660 level.



Asian markets fell sharply on Monday. 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 fell. European markets also crashed in early trade.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/04/44661029/trump-and-fed-stand-firm-lack-of-a-put-could-drive-the-market-lower-very-quickly-warns-expert">Lack Of &#8216;Trump Put&#8217; Could Drive Market Lower &#8216;Very Quickly,&#8217; Says Expert, As Fed Chair Jerome Powell Stands Ground On Rate Cuts</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Macro Notification

CECO

CHSN

CPHI

PLAY

SHEL

US Stock Futures Drop Following Massive Tariff-Induced Selloff: Experts Warn Of A Brewing 'Great Depression-Like' Pattern

Magnificent 7 stocks, which are the heavyweights in the benchmark indices of the U.S. stock market, declined in premarket on Monday, extending the fall from the tariff-induced selloff last week.



What Happened: Shares of Elon Musk&#8216;s Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Mark Zuckerberg&#8216;s Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) dropped the most by 5.19%% and 2.47%, respectively, as of the publication of this article.



The other components of the Magnificent 7 were all down over 1%. Tesla and Jensen Huang&#8216;s Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) have had the steepest fall on a year-to-date basis in 2025.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Stocks</td><td>Monday Premarket</td><td>YTD Performance</td></tr><tr><td>Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td><td>-3.34%</td><td>-31.81%</td></tr><tr><td>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</td><td>-2.96%</td><td>-22.75%</td></tr><tr><td>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</td><td>-1.43%</td><td>-14.03%</td></tr><tr><td>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</td><td>-2.51%</td><td>-22.35%</td></tr><tr><td>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)</td><td>-2.05%</td><td>-22.50%</td></tr><tr><td>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td><td>-2.47%</td><td>-15.77%</td></tr><tr><td>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td><td>-5.19%</td><td>-36.87%</td></tr></tbody></table></figure>



The market has been witnessing a staggering crash since Thursday, after President Donald Trump unveiled tariffs on U.S. trading partners on Wednesday after the close. Top analysts and economists have issued recession warnings following the introduction of these policy changes.



Goldman Sachs increased its recession probability forecast to <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?">45% from 35%</a> on Sunday, following a prior hike a month ago, attributing the increased risk to tighter financial conditions and higher policy uncertainty, a view shared by JPMorgan, which raised its global <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">recession odds to 60%</a> last week. However, Jefferies analysts suggest these factors, including Trump&#8217;s tariffs, could offer tech companies a &#8220;Free Hall Pass&#8221; to revise their financial guidance



As reported <a href="https://markets.businessinsider.com/news/stocks/tariffs-free-hall-pass-to-reset-big-tech-profit-guidance-2025-4">by</a> Business Insider, the firm&#8217;s lead analyst, Brent Thill, suggests companies can leverage this crisis to set lower, more attainable estimates, potentially boosting investor sentiment and stock performance. 



See Also: <a href="https://www.benzinga.com/25/04/44662164/us-stock-futures-slump-following-massive-tariff-induced-selloff-experts-warn-of-a-brewing-great-depression-like-pattern">US Stock Futures Slump Following Massive Tariff-Induced Selloff: Experts Warn Of A Brewing &#8216;Great Depression-Like&#8217; Pattern</a>



Why It Matters: The movement in these seven stocks has a huge impact on the overall market as they comprise nearly 32% of the S&amp;P 500&#8217;s weight.



As of Friday, the S&amp;P 500 was nearing the bear market zone as it closed 17.46% lower than its previous record high of 6,147.43 points.



Dow was 14.99% down from its 52-week high of 45,073.63 points, whereas the Nasdaq 100 was already in the bear market territory, 21.71% lower from its high of 22,222.61 points.



The hopes of a <a href="https://www.benzinga.com/25/04/44661029/trump-and-fed-stand-firm-lack-of-a-put-could-drive-the-market-lower-very-quickly-warns-expert">Fed &#8216;put&#8217; remained on standby</a> as Jerome Powell said Friday that "It is too soon to say what will be the appropriate path for monetary policy.&#8221;



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, declined in premarket on Monday. The SPY was down 2.10% to $494.66, while the QQQ declined 2.24% to $413.21, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/04/44662730/bill-ackman-slams-commerce-secretary-lutnick-for-ignoring-stock-market-crash-he-and-cantor-are-long-bonds">Bill Ackman Slams Commerce Secretary Howard Lutnick For Ignoring Stock Market Crash: &#8216;He And Cantor Are Long Bonds&#8217;</a></li>
</ul>



Image via Shutterstock

GOOG

Tesla, Nvidia, Apple And Other 'Magnificent 7' Peers Tank In Monday Premarket: What's Going On?

Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) is the latest investment bank to predict a recession for the U.S. economy over the next 12 months, with the odds being raised to 45%, from its previous prediction of 35%. Amidst <a href="https://www.benzinga.com/25/04/44662164/us-stock-futures-slump-following-massive-tariff-induced-selloff-experts-warn-of-a-brewing-great-depression-like-pattern">all this chaos and uncertainty</a>, however, there is a silver lining for the tech giants and their executives.



What Happened: On Sunday night, Goldman Sachs published a note raising its recession probability forecast from 35% to 45%, citing the sharp tightening of financial conditions and a spike in policy uncertainty. Just a month ago, it raised the probability from 20% to 35%, stating that economic fundamentals weren&#8217;t as robust as in the prior years.



See More: <a href="https://www.benzinga.com/25/04/44662249/end-of-cheap-clothing-era-tariffs-to-hit-apparel-industry-hard">Tariffs Threaten To End Era Of Cheap Clothing — Apparel Industry Faces Major Price Shock Under Trump Policy</a>



The bank now follows JPMorgan Cash &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), which <a href="http://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">made a similar prediction last week</a>, hiking the odds of a global recession to 60%.



While none of this sounds good, Jefferies Financial Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JEF#NYSE">JEF</a>) analysts believe that this, along with the Donald Trump administration&#8217;s tariffs, can be a &#8216;Free Hall Pass&#8217; for tech companies to revamp their financial guidance.



According to the firm&#8217;s lead analyst Brent Thill, companies can use this crisis to aim for &#8216;lower estimates that are more achievable and can help boost investor sentiments and stock performance,&#8217; as <a href="https://markets.businessinsider.com/news/stocks/tariffs-free-hall-pass-to-reset-big-tech-profit-guidance-2025-4">reported</a> by Business Insider. 



The firm&#8217;s analysts then cut their Price Targets for Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), among 29 leading tech stocks.



Why It Matters: The analysts noted that besides the obvious first and second order impacts of the tariffs, both Meta and Amazon generate significant revenue from Chinese advertisers trying to reach global audiences, which is now under pressure.



However, analysts have asked the tech giants to use this as an opportunity to reset their guidance to move conservative figures, something that better reflects new market realities.



Read More:



<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/04/44661978/bill-ackman-blames-market-collapse-on-tariff-timing-says-trump-advisor-should-be-fired-now-predicts-a-lot-more-than-5-dip">Bill Ackman Blames Market Collapse On Tariff Timing, Says Trump Advisor &#8216;Should Be Fired Now:&#8217; Predicts &#8216;A Lot More Than 5%&#8217; Dip</a></li>
</ul>



Photo courtesy: Shutterstock

Social Media

Goldman Sachs Raises Risk Of Recession to 45%: Jefferies Calls Tariffs a 'Free Hall Pass' For Tech Giants To Reset Their Goals

A report&nbsp;indicated that new tariff policies could lead to increased costs for American households, while President Donald Trump continues to advocate tariffs as a solution to U.S. trade deficits



What Happened: A Yale budget lab report suggests that U.S. households will face increased costs due to these tariffs. Families are projected to face an average additional cost of $3,800 this year as a result of the overall 2025 tariffs, which are expected to increase price levels by 2.3% in the short term. 



Meanwhile, the April 2 &#8216;Liberation Day&#8217; tariffs alone are likely to increase the average cost of $2,100 per household in 2025. The report also stated that households at the lowest end of the income distribution face annual losses of $1,700.



Both the April 2 tariffs and the combined 2025 tariffs impact the clothing and textile sector, causing apparel prices to increase by 17% under the full set of tariffs, stated the Yale report.



However, Trump took to his Truth Social and pushed for tariffs as a means to address trade deficits with nations such as China and the European Union. He argued that the tariffs already in place have generated substantial revenue—tens of billions of dollars—for the country, and criticized the Biden administration for&nbsp;trade surpluses favoring foreign nations. He also promised a swift reversal of this trend.



<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="612" height="288" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07055131/image-53.png" alt="" class="wp-image-859562" style="width:508px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07055131/image-53.png 612w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07055131/image-53-300x141.png 300w" sizes="(max-width: 612px) 100vw, 612px" /></figure>



SEE ALSO:&nbsp;<a href="https://benzinga.com/general/market-summary/25/04/44660779/sp-500-dow-jones-on-course-to-mimic-rare-consecutive-losses-not-seen-since-the-great-depre" target="_blank" rel="noreferrer noopener">S&amp;P 500, Dow Jones On Course To Mimic Rare Consecutive Losses Not Seen Since The Great Depression: What&#8217;s Driving the Fear?</a>



Why It Matters: The proposed tariffs have sparked concerns about potential inflation. Federal Reserve Chair Jerome Powell hinted at this possibility in a&nbsp;<a href="https://www.benzinga.com/government/regulations/25/04/44648681/powell-cites-tariff-driven-inflation-risks-shrugs-off-trumps-call-for-perfect-time-to-cut-rates">speech</a>&nbsp;earlier this month. He indicated that higher tariffs could complicate the path toward price stability, raising the risk of both slower growth and rising inflation.



Furthermore, billionaire entrepreneur Mark Cuban has warned that even American-made goods will see price hikes due to tariffs. In a <a href="https://www.benzinga.com/news/25/04/44656363/stock-up-now-says-mark-cuban-he-warns-that-even-american-made-goods-will-see-price-hikes-soon">Bluesky post</a>, Cuban urged Americans to stock up on essentials before prices rise further. He suggested that even if goods are made in the U.S., retailers will increase the price and blame it on tariffs.



Global markets have been on a rollercoaster ride due to President Donald <a href="https://in.benzinga.com/media/25/04/44657800/trumps-tariffs-stir-global-markets-wall-street-loses-2-trillion-and-more-this-week-in-economics" target="_blank" rel="noreferrer noopener">Trump&#8217;</a><a href="https://in.benzinga.com/media/25/04/44657800/trumps-tariffs-stir-global-markets-wall-street-loses-2-trillion-and-more-this-week-in-economics" target="_blank" rel="noreferrer noopener">s new trade tariffs</a>. 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 mirror the S&amp;P 500 and Nasdaq-100 indexes, respectively, slipped in premarket trading Monday. SPY fell 4.01% to $485.03, while QQQ dropped 4.26% to $404.65, according to <a href="http://pro.benzinga.com">Benzinga Pro data.</a>



<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/25/04/44661347/xrp-futures-traders-bet-on-cryptos-price-increase-despite-a-20-fallheres-what-analysts-predict" target="_blank" rel="noreferrer noopener">XRP Futures Traders Bullish On Coin&#8217;s Price Increase Despite A 20% Fall — Analyst Terms Decline As &#8216;Small Speed Bump&#8217; &#8211; Benzinga</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.

Trump Tariffs Could Cost American Families $3,800 More Per Year — But President Says They're 'Bringing Tens Of Billions Of Dollars Into The US'

On Friday, April 4th, U.S. markets closed sharply lower, marking Wall Street&#8217;s second consecutive day of steep losses. The Nasdaq officially entered a bear market, while the Dow slipped into correction territory amid intensifying global trade tensions.



President Trump&#8217;s sweeping tariffs sparked fears of a global recession, erasing trillions in market value. Investor panic surged as volatility spiked, and world leaders scrambled to coordinate responses to the escalating trade conflict.



In economic data, March U.S. nonfarm payrolls jumped by 228,000, beating forecasts and the recent average. February&#8217;s figure was revised down to 117,000. Unemployment rose slightly to 4.2%, against expectations of no change. Average hourly earnings grew 0.3% month-over-month and 3.8% year-over-year, just below the 3.9% forecast.



Most S&amp;P 500 sectors fell Friday, led by financials, energy, and tech, amid heightened volatility, while consumer staples rose as investors turned to defensive assets.



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The Dow Jones Industrial Average tumbled 5.5% to 38,314.86, while the S&amp;P 500 dropped 5.97% to 5,074.08. The Nasdaq Composite also fell sharply, losing 5.82% to close at 15,587.79.



Asia Markets Today



<ul>
<li>On Monday, Japan&#8217;s Nikkei 225 closed the session lower by 7.68% at 31,187.50, hitting a 1.5-year low, as fears of a global recession from Trump&#8217;s new tariffs triggered a broad selloff, especially in banks and chip-related stocks.</li>



<li>Australia&#8217;s S&amp;P/ASX 200 was down 4.23% and closed at 7,343.30, led by losses in the Energy, IT, and Consumer Discretionary sectors.</li>



<li>India&#8217;s Nifty 50 was down 2.84% to 22,252.90, and Nifty 500 declined 3.07% to 20,164.35.</li>



<li>China&#8217;s Shanghai Composite fell 7.34% to 3,096.58, and Shanghai Shenzhen CSI 300 declined 7.05% to 3,589.44.</li>



<li>Hong Kong&#8217;s Hang Seng Index plummeted 13.2% to 19,828.30, marking its worst single-day drop since 1997. Escalating U.S.-China tariffs intensified trade war fears, sparking a broad selloff in tech and growth-linked sectors and roiling global markets.</li>
</ul>



Eurozone at 05:45 AM ET



<ul>
<li>The European STOXX 50 was down 5.63%.</li>



<li>Germany&#8217;s DAX declined 5.84%.</li>



<li>France&#8217;s CAC 40 fell 5.76%.</li>



<li>U.K.&#8217;s FTSE 100 index traded lower by 4.74%.</li>



<li>European markets tumbled as Trump&#8217;s unwavering tariff stance and rising U.S.-China tensions deepened fears of a global recession. Already grappling with weak industrial data, Europe faced added pressure from looming EU retaliatory tariffs and sharp losses in banking and energy stocks.</li>
</ul>



Commodities at 05:45 AM ET



<ul>
<li>Crude Oil WTI was trading lower by 3.89% at $59.58/bbl, and Brent was down 3.67% at $63.16/bbl.</li>



<li>Oil prices fell as U.S.-China trade tensions stoked recession fears, weakening demand outlook. Additionally, Saudi price cuts and OPEC+ plans to boost output intensified pressure on crude benchmarks.</li>



<li>Natural Gas slid 3.08% to $3.719.</li>



<li>Gold was trading higher by 0.21% at $3,041.50, Silver was up 3.22% to $30.170, and Copper fell 1.28% to $4.3420.</li>



<li>Gold prices fell to a three-week low as investors liquidated positions to cover losses from a broader market selloff, which was driven by Trump&#8217;s sweeping tariffs and rising global recession fears despite gold&#8217;s safe-haven status.</li>
</ul>



U.S. Futures at 05:45 AM ET



Dow futures were down 3.05%, S&amp;P 500 futures declined 3.13%, and Nasdaq 100 futures slid 3.46%.



Forex at 05:45 AM ET



The U.S. Dollar Index declined 0.11% to 102.88, USD/JPY was down 0.59% to 146.03, and USD/AUD gained 0.54% to 1.6626.



Photo by Skorzewiak via Shutterstock

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