Nasdaq Dips 6% Following Trump's Tariffs As Nvidia, Apple Decline: Investor Sentiment Plunges, Greed Index Remains In 'Extreme Fear' Zone

Market Sentiment - The CNN Money Fear and Greed index showed a sharp decline in overall market sentiment, remaining in the "Extreme Fear" zone with a current reading of 7.7, down from 18.6 [1][6][7] - U.S. stocks settled lower, with the Nasdaq Composite dipping around 6% during the session following new trade tariffs announced by President Trump [1][4] Company Performance - Apple Inc. shares dipped approximately 9.3%, marking its worst day since March 2020 [1] - Nvidia Corp. tumbled 7.8%, while Amazon.com Inc. dropped 9% on the same day [1] - Lamb Weston Holdings Inc. shares gained 10% after reporting better-than-expected third-quarter financial results and issuing FY25 sales guidance above estimates [2] Economic Data - U.S. initial jobless claims fell by 6,000 to 219,000, better than market estimates of 225,000 [3] - The U.S. trade deficit shrank to $122.7 billion in February, compared to$130.7 billion in the previous month and versus market estimates of a $123.5 billion gap [3] - The ISM services PMI dipped to 50.8 in March, down from 53.5 in February and below market estimates of 53 [3] Sector Performance - Most sectors on the S&P 500 closed negatively, with consumer discretionary, energy, and information technology stocks recording the biggest losses [4] - Consumer staples stocks bucked the overall market trend, closing higher [4] - The Dow Jones closed lower by around 1,679 points to 40,545.93, while the S&P 500 dipped 4.84% to 5,396.52, and the Nasdaq Composite tumbled 5.97% to 16,550.61 during the session [4]