Day Traders Diary

3/13/25

The major averages continue to correct continuing their three-week market correction due in part to the trade tariff threats from President Donald Trump. The Dow Jones Industrial Average fell 537 points, or 1.3%, marking its fourth day of declines and closing at 40,813. The S&P 500 fell 77 points or 1.3% while the Nasdaq declined 345 points or 1.96%.

Trump took to his Truth Social platform this morning to threaten 200% tariffs on all alcoholic products coming from countries in the European Union in retaliation for the bloc's 50% tariff on whisky. The constant talk of tariffs has created a lot of uncertainty among investors. So far this week, the S&P 500 and Nasdaq are down 4.3% and 4.9%. The Dow is off about 4.7%, tracking for its worst week since June 2022.

Weakness continues in the tech space with Adobe down 13% on earnings. Oracle fell 2% today and 4% earlier in the week following earnings. Only Intel was higher in the big cap tech space on news of a new CEO.

Gold had a good day today, touching and closing above 3000 for the first time, up 1.8% today.