Day Traders Diary

4/16/25

The sell off snowballed today started by write downs from the chip market for trade tariff restrictions. The Dow Jones Industrial Average lost 699 points, or 1.73%, closing at 39,669. The S&P 500 dropped 2.24% or 120 points while the Nasdaq Composite pulled back 516 points or 3%, closing in on bear market territory again.

Shares of Nvidia sank 6.9% after the chip giant said it will post a $5.5 billion quarterly charge related to exporting its H20 graphics processing units to China and other nations. The company said in a filing that the U.S. government required a license to send chips from the U.S. to China. The stock was also under pressure after The New York Times reported that President Donald Trump's administration was taking steps to crack down on Chinese startup DeepSeek. AMD fell 6% after taking a $800 write down for export restrictions.

The benchmark 10-year's yield rose slipped about 4 basis point to 4.28%. The 2-year Treasury yield declined 4 basis point to 3.78% as March retail sales data showed consumer spending was resilient last month, in spite of weakening sentiment. The Fed Chairman also spoke today regarding tariffs but had little clarity.

Gold continues to shine, up 3% to new highs as a safe haven for global investors. Oil rose 2% while bitcoin rose half a percent.