Day Traders Diary

4/10/25

The major averages gave back some of their historic gains from Wednesday closing down over 3% in the S&P 500 and down over a 1000 points in the Dow after announcing a 90-day reprieve on some of his "reciprocal" tariffs to all countries except for China.

The Dow Jones Industrial Average dropped 1,014 points, or 2.5%. The S&P 500 fell 188 points or 3.4% while the Nasdaq Composite slid 737 points or 4.3%.

Tech led the sell off with Apple and Tesla down 4% and 8%, respectively. Nvidia and Meta both fell 6%.

Thursday's market moves pared back a portion of the gains from Wednesday's historic surge, in which the S&P 500 soared more than 9% for its third-largest gain in a single day since World War II. The Dow also saw its biggest percentage advance since March 2020, while the Nasdaq scored its biggest one-day gain since January 2001 and second-best day on record.

After some volatile days, bond yields were quiet today. The 10-year Treasury yield was down a  basis point to 4.38%. The 2-year Treasury yield dropped more than 12 basis points to 3.827%.

In the commodity space, oil was down 4% as the energy sector fell 6%. Gold was up 3% as one of the few commodities that was higher. Bitcoin fell 3%.