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• Crude oil loses most since July 2022 as tariffs, OPEC output hike make 'perfect bearish cocktail'
  Crude oil fell sharply on Thursday to reach a pullback low of $66.17, before signs of support were seen....
  Crude oil fell sharply on Thursday to reach a pullback low of $66.17, before signs of support were seen. That low was a 17-day low, meaning that the decline took out the lows of the prior 16 days with little hesitation. Crude oil fell for most of Thursday’s session until a minor bounce started heading towards the close for the day.
  
  Nonetheless, at the time of this writing, sellers remain in control with crude oil continuing to trade in the lower third of the day’s price range. This very bearish behavior triggered a bearish reversal on the weekly chart and established a bearish outside week. A weekly close tomorrow, below last week’s low of $68.25, would confirm the bearish weekly signal.
  
  
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• S&P 500 logs worst day since 2020 as Trump's tariffs send U.S. stocks plunging
  Stocks closed sharply lower on Thursday as President...

  Stocks closed sharply lower on Thursday as President Donald Trump's latest tariffs rocked Wall Street, with the S&P 500 posting its worst daily drop since mid-2020, according to Dow Jones Market Data.

  
  

  Bond yields sank as investors flocked to haven government debt, fueled by growing worries that the U.S. economy could falter amid the uncertain backdrop for global trade.

  
  

  According to FactSet data, the Dow Jones Industrial Average shed 1,679.39 points, or 4%, to end at 40,545.93.

  
  

  According to Dow Jones Market Data, the S&P 500 skidded 274.45 points, or 4.8%, to 5,396.52, logging its biggest daily drop since June 11, 2020.

  
  

  The Nasdaq Composite Index shed 1,050.44 points, or 6%, to 16,550.61, its biggest daily drop since March 16, 2020.

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• From Twitter: Oil Prices Crash 7% on Trump Tariffs, OPEC Ramp-Up
  Oil prices dropped 6% on Thursday after...

  
  

  Oil prices dropped 6% on Thursday after OPEC+ accelerated its plan to increase oil output in May, compounding losses from US President Trump’s new tariffs, with Brent futures falling by $4.51 to $70.44. In today’s OPEC+ ministers’ meeting, countries decided to raise output by… pic.twitter.com/TRRrNnknEZ

  
  — Zoom News (@zoomnewskrd) April 3, 2025

  
  
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• Roughly 60 S&P 500 stocks are down 10% or more — that's 12% of the index
  Another ominous factoid has arrived courtesy of Farzin...

  Another ominous factoid has arrived courtesy of Farzin Azarm, a managing director at Mizuho Americas.

  
  

  Azarm pointed out in an email shared with MarketWatch that roughly 60 stocks in the S&P 500 were down 10% or more on Thursday. That's 12% of the entire index.

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• S&P 500 Plunges Over 3% as Markets Reel From Shock of Trump’s Tariffs
  Wall Street opened sharply lower on Thursday, following...

  Wall Street opened sharply lower on Thursday, following a slump in global markets, after President Trump announced a major round of tariffs on U.S. imports. The world’s biggest economies reacted swiftly to the new levies, which significantly escalated trade tensions with the United States, and some countries warned of retaliation.

  
  

  For weeks, Mr. Trump said he would impose “reciprocal tariffs” on allies and adversaries. Still, the tariffs announced on Wednesday were far higher than experts had expected, likely driving up prices for American consumers and manufacturers.

  
  Investors flocked to the safety of government bonds as stocks plummeted this morning, pushing up prices and lowering yields, reflecting the interest rate the government pays to borrow from investors. The 10-year yield, which underpins interest rates on things like mortgages and some business loans, is now close to 4 percent, down from nearly 4.8 percent in January.
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