Stock Market News·2025-10-10 18:07Market Overview - The U.S. stock market experienced a significant downturn on October 10, 2025, with major indexes declining sharply after President Trump threatened a "massive increase" in tariffs on Chinese imports, disrupting a period of relative calm on Wall Street [1][3] - The Nasdaq Composite led the losses, falling nearly 2.6%, while the S&P 500 dropped around 1.7% to 2%, marking its worst daily performance since April [2][3] - The Dow Jones Industrial Average also declined between 1.05% and 1.3%, with a drop of as much as 644 points earlier in the session [2] Sector Performance - Technology stocks were heavily impacted, with Nvidia (NVDA) and Advanced Micro Devices (AMD) experiencing significant declines of approximately 2.5% and 6-7% respectively [4][14] - Rare earth stocks surged, with MP Materials gaining 11% and USA Rare Earth climbing 15%, driven by supply concerns due to China's export restrictions [4] - Other sectors, including retail, faced considerable selling pressure amid the broader market downturn [4] Bond and Commodity Markets - The yield on the 10-year Treasury note fell to 4.05% from 4.14%, indicating a flight to safety among investors [5] - Oil prices decreased, with Brent crude dropping 3.3% to $63.08 per barrel, influenced by a ceasefire in Gaza [5] Upcoming Market Catalysts - The ongoing U.S. government shutdown is delaying crucial economic data releases, but the Bureau of Labor Statistics plans to recall furloughed employees to produce the September Consumer Price Index report [6] - Earnings season is set to begin, with major banks like JPMorgan (JPM) and Citigroup (C) expected to report quarterly results, amid concerns of softer revenue figures due to renewed trade tensions [7] - The International Monetary Fund (IMF) will release its October 2025 World Economic Outlook on October 14, and the Federal Reserve's upcoming meeting is anticipated to result in a 95% chance of a rate cut [8] Company Spotlight - Nvidia (NVDA) shares fell approximately 2.5% despite earlier hitting an all-time high, while Advanced Micro Devices (AMD) saw a decline of nearly 6-7% [14] - Tesla (TSLA) also experienced a drop in stock price amid the market downturn [14] - Levi Strauss & Co. (LEVI) shares dropped between 10% and 12.3% despite reporting stronger-than-expected quarterly profits [14] - Applied Digital (APLD) saw its stock soar after reporting strong earnings and new data center deals [14] - Mosaic (MOS) experienced a nearly 8% drop following a downgrade from RBC Capital due to a surprise phosphate production cut [14] - Qualcomm (QCOM) shares fell 1% as China initiated an investigation into the company for suspected antimonopoly law violations [14] - Other companies affected by trade war fears included Amazon (AMZN), Meta Platforms (META), and several others, all experiencing declines in their stock prices [14]