US Stocks End March Higher Amid Tariff Uncertainty and Quarterly Losses

Market Performance and Volatility

• 📈 The S&P 500 and Nasdaq Composite experienced their worst quarterly performances since 2022, with the S&P 500 down 4.6% and the Nasdaq down 10.5% in the first quarter of 2025.
• 📉 The Dow Jones Industrial Average also slipped 1.3% for the quarter, despite closing up 1% on Monday.
• ⚠️ Market volatility is expected to continue due to a lack of clarity surrounding President Trump's economic policies and upcoming tariff announcements.

Key Stock Movements

• 📉 Magnificent Seven names like Tesla (down nearly 36%) and Nvidia (down nearly 20%) suffered steep quarterly losses.
• 💊 Shares of drug makers slid, with Moderna dropping nearly 9% and gene therapy companies Tass and Solid Biosciences falling significantly after reports of an FDA vaccine official's resignation.
• 🏢 Rocket Companies fell over 7% following news of its $9.4 billion acquisition of Mr Cooper Group, whose shares rose about 145%.

Economic Policy and Market Outlook

• 🗣️ President Trump announced that this week's tariff announcement will include duties on all nations, adding to existing tariffs on aluminum, steel, autos, and increased tariffs on Chinese goods.
• 🔍 Market strategists suggest that the current market is in an early stage of trying to make a bottom, but this testing process could take weeks or months.
• 💡 More clarity on the tariff front is needed for a sustained market rally.