IXIC: Nasdaq Crash Drags Tech Index into Correction. Trump Blames Globalists for Selloff

Trump’s tariffs are already choking off international trade and he’s threatening things will get even worse. What’s next?

👇 Nasdaq Suffers Worst Session of 2025

• The Nasdaq Composite IXIC had its worst session of the year on Thursday when fears of crippling tariffs crushed investors’ ambitions to bet on risk assets. The tech-heavy index lost 2.6% on the day and — what’s worse — dived into correction territory, wiping out more than 10% from its record-high level hit in mid-December.
• The drop pressured Wall Street’s beloved tech gauge to languish around levels before Donald Trump’s election day. And that’s when things really took off. The other two major averages haven’t been spared the traders’ wrath either.

📢 ”I Think It’s Globalists”

• The Dow Jones Industrial Average DJI lost 1% yesterday and is now down 6% from its record high. The 30-stock index is still holding on to some minor postelection gains. The broad S&P 500 shed 1.8% yesterday and is now lower by 7% from its all-time peak and has also erased all its postelection gains.
• In a press event Thursday, a reporter asked Donald Trump why it appears that his tariffs are sinking the stock market. “I think it’s globalists that see how rich our country’s going to be, and they don’t like it,” the US President said. (American titans Vanguard and BlackRock are the largest shareholders of the S&P 500.)

📺 Nonfarm Payrolls Ahead

• Looking ahead, besides fresh news on tariffs (Europe still hasn’t been pulled into the storm) traders will be watching for the regular churn-out of economic reports. The nonfarm payrolls are on deck for release today. It will be the first full month under Trump and expectations aren’t too high.
• Analysts are eyeballing 159,000 new jobs created in February, a bit higher than January’s 143,000 hires. Brace for volatility as this one can go both ways — protect your trades so you don’t get overly exposed to market swings.