LemonTradesWhy is the stock market going down today?
Or up. The reasons behind today’s move in US stocks: the headlines the LemonTrades desk scored highest for the S&P 500, Nasdaq and Dow, and what yields, the dollar and the biggest stocks are doing.
- Nasdaq
- +1.06%
- Dow
- +0.68%
- Russell 2000
- +0.27%
- VIX
- 16.68 −1.53%
- 10-year yield
- 5.146%
- Market
- Closed now
The S&P 500 futures is down 0.63% today. The S&P 500 has fallen 0.6% or more on 18.0% of trading days over the last ten years, about 45 days a year.
- Tech is lagging: the Nasdaq futures is −1.31% against −0.35% for the Dow, so big tech is leading the selling.
- The 10-year Treasury yield is up 6 basis points at 5.15%. Rising yields usually weigh on stocks, especially tech.
- Alphabet (−1.6%) is doing the most damage among the biggest stocks.
The reasons: today’s top headlines
The headlines from the last 24 hours that the desk scored highest for US stocks, 0 to 10, with how each one pushes the market.
- Wed 8:00 PMIran war live: IRGC vows invasion as defence doctrine turns ‘offensive’
Escalating war fears and surge in oil prices pressure equity sentiment.
- Wed 4:29 PMIBM beats on top and bottom lines as CEO Krishna touts 'Super Intelligence' traction
IBM is a major component and strong earnings lift the index.
- Wed 4:10 PMTesla beats on earnings and revenue
Tesla's earnings beat boosts heavyweight tech sentiment in after-hours trading.
- Wed 4:07 PMMeta Q3 beats on revenue and EPS as $9.9B legal charge lifts full-year expense outlook
Meta's earnings beat and expense guidance sway tech index futures.
- Wed 4:07 PMMeta Boosts Bet on AI With New Spending Outlook, Stock Offering
Higher tech capex and share offering can impact tech index sentiment.
- Wed 4:07 PMMeta Boosts Bet on AI With Spending Outlook, New Stock Class
Heavyweight Meta's capex plans significantly influence tech index performance.
- Wed 4:06 PMTesla earnings are out – here are the numbers
Tesla's earnings results impact major tech and broad market index performance.
- Wed 4:03 PMTexas Instruments Forecast Tops Estimates After Demand Picks Up
Strong semiconductor demand outlook boosts broader tech and chip equities.
The desk’s alerts
Breaking stories and sharp index moves from the last three days, written up by the desk.
- Wed 8:32 PMIRGC shifts to 'offensive' doctrine, vows invasion amid Iran war
Al Jazeera's Iran war live coverage reports the IRGC has vowed invasion as its defence doctrine turns 'offensive', signalling a potential escalation beyond defensive operations.
- Wed 4:32 PMIBM beats revenue and earnings estimates; CEO touts AI traction
IBM reported quarterly results that beat on both revenue and earnings. CEO Arvind Krishna highlighted traction in what he called 'Super Intelligence' AI offerings.
- Wed 4:12 PMTesla beats on earnings and revenue
Tesla reported quarterly earnings and revenue above expectations, CNBC reports. No figures were given in the headline.
- Wed 4:10 PMMeta raises AI spending outlook, announces stock offering
Meta boosted its AI investment with a new spending outlook and announced a stock offering, per Bloomberg. No figures were given in the headline.
The biggest stocks today
Seven companies make up about a third of the S&P 500’s value, so their moves can carry the whole index.
| Company | Price | Today |
|---|---|---|
| NvidiaNVDA | $221.94 | +2.52% |
| AppleAAPL | $343.91 | +1.23% |
| MicrosoftMSFT | $532.95 | +0.15% |
| AmazonAMZN | $262.52 | −0.09% |
| AlphabetGOOGL | $334.76 | −1.63% |
| MetaMETA | $697.52 | +0.44% |
| TeslaTSLA | $386.40 | +3.39% |
Rates, the dollar and commodities
| Market | Level | Change | Today |
|---|---|---|---|
| VIXthe fear gauge | 16.68 | −0.26 | −1.53% |
| 10-year Treasury yieldin % | 5.146% | +0.063 | +1.24% |
| US Dollar IndexDXY | 101.58 | −0.11 | −0.11% |
| WTI crude oilfutures | 98.53 | +0.82 | +0.84% |
| Goldspot, per ounce | 4,091.63 | −47.51 | −1.15% |
| Bitcoinspot | 82,836.93 | −1,937.63 | −2.29% |
Every index and its futures on one page: stock market live today.
Why the stock market goes down
- Hot inflation or a strong jobs report, which can mean higher rates for longer.
- Rising Treasury yields: the 10-year yield above 5% makes bonds a real alternative to stocks.
- A hawkish Fed: rate hikes, or fewer cuts than expected.
- Disappointing earnings or guidance from the biggest companies.
- Shocks: tariffs, wars, oil spikes, a bank or credit scare.
Is today’s drop unusual?
Down days are normal: the S&P 500 falls on a bit under half of all trading days, and drops of 10% or more (a correction) have come roughly once every year or two on average. A single day rarely tells you the trend; what matters is whether the reason lasts.
Coming up that could move stocks
Nothing big on the calendar for the next week yet.
Questions
Why is the stock market down today?
The S&P 500 futures is down 0.63% today. The headlines above are the likeliest reasons.
Is the stock market open today?
The US stock market is not open yet. It opens today at 9:30 AM ET.
How do I get alerts when the market moves?
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Market news and analysis, not financial advice. AI can misread a headline, so check the source before acting on anything important. Prices and news may be delayed.