The Nasdaq Composite Index plunged 4% on March 10, marking its biggest drop in 2.5 years as recession fears intensified.
The Dow Jones Industrial Average (-2.08%) and the S&P 500 (-2.7%) also saw significant losses, while Bitcoin (BTC) slipped back to the $79K range.
※ What’s causing this market crash?
Investors panicked after President Donald Trump hinted at a possible economic recession, saying he “does not rule it out.”
■ Nasdaq Plummets 4% – Tech Stocks Hit Hard!
▼ On March 10, the Nasdaq Composite Index closed at 17,468.32, down 4.0% from the previous session.
▼ Largest single-day drop since September 13, 2022
▼ Down 13.4% from its all-time high of 20,173.89 (Dec 16, 2024)
● Biggest tech stock losers
• Tesla (TSLA): -15.43%
• Nvidia (NVDA): -5.07%
• Palantir Technologies (PLTR): -10.05%
• Broadcom (AVGO): -5.39%
• Philadelphia Semiconductor Index (SOX): -4.85%
● The market was already declining last week (March 4-8):
✔️ S&P 500: -3.1% (biggest weekly drop since September 2024)
✔️ Dow Jones: -2.4%
✔️ Nasdaq: -3.5%
■ Did Trump’s Comments Spark the Market Panic?
● Donald Trump (March 9, Fox News Interview):
• “I am doing very important work… but a transition period is necessary.“
• Investors saw this as Trump not ruling out a recession, fueling uncertainty.
●White House National Economic Council (NEC) Chair Kevin Hassett (CNBC Interview):
• “We are considering the possibility of a GDP decline in Q1. It would be a temporary issue.“
※ Market analysts fear Trump’s policies might trigger a “Trump Session” (Trump-driven recession).
■ Bitcoin & Crypto Stocks Plunge as Well
●Bitcoin drops back to $79K
• As of March 11, 7:10 AM (ET), BTC is trading at $79,390
●Crypto-related stocks also took a massive hit:
• MicroStrategy (MSTR): -16.7% ($239.27)
• Coinbase (COIN): -17.6%
※ Why is crypto falling?
Trump’s administration included Bitcoin in its Strategic Reserve, but only from government-seized assets – disappointing crypto investors.
■ Conclusion: Where is the Market Headed?
• Nasdaq crashes 4% – biggest single-day drop in 2.5 years
• Trump hints at recession → market panic spreads
• Bitcoin & crypto stocks plunge alongside tech stocks
• Future market direction depends on upcoming economic data & Trump’s policies
§ Will the market rebound, or is a deeper correction coming? Investors must stay alert!