Day Traders Diary

3/18/25

The major averages renewed their downward trend after two strong days with nearly 1000 points to the upside for the Dow. The Dow Jones Industrial Average fell 260 points, or 0.6%. The S&P 500 fell 60 points or 1.07% while the Nasdaq Composite dropped 304 points or 1.7%.

The tech sector continued its slide with Tesla down Tesla down 5% while Nvidia and Meta fell 3% RBC Capital Markets lowered their price target on Tesla citing rising competition in the EV space. Tesla' s stock is down 35% over the past month.

Last week, the S&P 500 officially entered correction territory last week, having its worst week in the last year. The tech-heavy Nasdaq still sits in a correction, down over 10% from all time highs.

Bonds were quiet ahead of the Fed meeting tomorrow. The Fed and Chairman Jerome Powell are expected to keep rates unchanged.