3/10/25

US stocks sink in biggest tech rout since 2022

The S&P 500 sank 2.7% in its worst day of the year, the Nasdaq 100 gave back 3.8% in its worst session since 2022, and the Russell 2000 fell 2.7%.

The rout in momentum stocks continues to be at the heart of the market’s struggles, though increasing fears about a US economic downturn are causing broader pain.

Tech, consumer discretionary, communication services, and financials were the worst-performing sectors. Financials erased all their year-to-date gains with Monday’s retreat. Utilities were the best-performing sector.

Tesla got slammed in its worst day since 2020 to make it the worst-performing stock in the S&P 500 so far this year. Palantir’s rapid unwind continued, with the stock down double digits.

Airlines continue to be rattled by the overhang from tariffs and fears of a slowing US consumer, with Delta Air Lines, United, Southwest Airlines, and American Airlines all sharply lower. Gaming stocks were in the same boat, with Nintendo, Sony, and Microsoft falling as levies threaten to push console costs upward.

Semi stocks took another shellacking, with Nvidia and Broadcom each off 5%.

It was also a rough day for crypto-adjacent stocks: Strategy’s plan to accumulate even more bitcoin was not well received given the plunge in digital assets, and Robinhood tumbled partially in sympathy with the crypto space, but also amid a settlement with Finra and S&P’s decision not to add it to the benchmark US stock index, as some had hoped.

(Sherwood Media is an independently operated subsidiary of Robinhood Markets Inc.)

Elsewhere, in gambling, DraftKings was routed as the downdraft in the stock market may weigh on Americans’ appetite for wagers.

Novo Nordisk tumbled after trials for its latest weight-loss shot disappointed.

Traders didn’t love Rocket Cos’ acquisition of real estate listing platform Redfin in an all-stock deal.

Some ports in a storm for investors included consumer staples and defense stocks like Conagra and Northrop Grumman.

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Nia Warfield, Luke Kawa

S&P 500 goes nowhere, Nasdaq 100 hits another record, small-caps tumble

Warner Bros. Discovery led gains for the second day in a row, and only three S&P 500 sector ETFs finished in the green.

Horse Ranch In Zhangye

markets

9/12/25

Rocket lab soars to new record close amid rally for retail faves

Rocket Lab ripped by roughly 10% Friday to close at a new all-time high, riding an upturn of retail enthusiasm for a coterie of tech-themed favorites, even as the broader market was more or less flat on the day.

Goldman Sachs’ basket of “retail favorites” — its heaviest weights are Reddit, AppLovin, and Tempus AI — was the second-biggest gainer among the company’s flagship US equity baskets on Friday, rising about 1.6%. The S&P was almost dead flat.

It’s not Rocket Lab’s first retail rodeo, as the money-losing company has more than doubled this year and is up nearly 700% over the last 12 months.

Oracle Wall Street Revisions

Analysts revise up anything and everything they thought about Oracle

After the company’s bombshell earnings this week, Wall Street thinks Oracle’s trajectory has changed.

Matt Phillips9/12/25

markets

9/12/25

Six Flags pops after reiterating its guidance as theme park attendance rebounds

Six Flags shares rose more than 7% today after the company reported a rebound in attendance and early season pass sales heading into the fall. The nine-week period ended August 31 saw 17.8 million guests, up about 2% from the same stretch last year, with stronger momentum in the final four weeks.

More importantly, Six Flags reaffirmed its full-year adjusted EBITDA guidance of $860 million to $910 million, showing confidence that its cost and operations strategy can stay strong for the duration of the year. Riding that wave, Six Flags also said early 2026 season pass unit sales are pacing ahead of last year, and average season pass prices are up about 3%.

The good vibes come despite a drop in in-park per-capita spending, especially from admissions, where promotions and changes to attendance mix (which parks or days guests visit) have weighed. Earlier this week, the amusement giant signed a new agreement that extended its position as the exclusive amusement park partner for Peanuts™ in North America through 2030.

Despite the rally, Six Flags shares are down about 52% year to date.

markets

9/12/25

Rivian turns red on the year, squeezed by a recall and the looming end of the EV tax credit

Shares of EV maker Rivian are down more than 5% on Friday following the company’s recall of 24,214 vehicles due to a software issue. The stock move erases Rivian’s year-to-date gain and turns the company negative on the year.

Rivian’s 2025 model year R1S and R1T are affected by the defect, which was identified after a vehicle’s hands-free highway assist software failed to identify another vehicle on the road, causing a low-speed collision. Rivian said it’s released an over-the-air update to fix the issue.

The recall marks Rivian’s fifth this year, affecting nearly 70,000 of its vehicles.

Rivian’s shares are down more than 20% from their 2025 high, which came prior to the passage of President Trump’s “big, beautiful bill.” Through the legislation, the $7,500 EV tax credit is set to expire at the end of the month.

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