And just like that, the market decided it was time to nosedive again. The Dow tumbled 260 points, the S&P 500 slid 1%, and the Nasdaq took the worst beating, dropping 1.7%. If you were hoping for a smooth recovery rally, well… embrace the suck. 

(Source: Giphy) 

Especially if you are a Tesla investor. Elon’s electric empire is down another 5%, thanks to RBC slashing its price target. The reason? Rising EV competition. Apparently, when every automaker on the planet starts flooding the market with cheaper, government-subsidized electric cars, Tesla isn’t the only game in town anymore. The stock has now plunged 36% in a month, which means if you bought calls in February, you’re currently experiencing a spiritual awakening about risk management.

Additionally, despite CEO Jensen Huang rolling out more AI-powered everything at GTC, Nvidia still took a hit (-3.3%), all while Palantir got body-slammed -4% due to Jefferies still calling foul. The firm reiterating its "underperform" rating, as they showcased another example of Wall Street not buying the whole “government contracts will make us AI gods" pitch. As a result, the entire sector is getting dunked on, and ain’t nobody is safe. 

(Source: Giphy) 

So what’s really spooking investors this time? Well, a few things. For instance, money is flowing out of last year’s winners (readL tech) and into whatever hasn’t been obliterated yet. Some call it a market rotation, others call it "I’m tired of losing money on Tesla." 

On the other hand, Trump is still playing will-they-won’t-they with tariff exemptions on imports from Canada and Mexico. Meanwhile, Jay Powell and the gang are wrapping up a two-day Fed meeting. The markets expect no rate cuts yet, but you better believe everyone is watching his tone, his posture, his eyebrow raises—literally anything for clues on when the first cut might come.

(Source: Giphy) 

In the end, today wasn’t a full-blown meltdown, but the market is definitely testing investors’ gag reflexes. Tech stocks are getting smacked, Tesla is still in a free fall, and every trader with a X account is pretending they saw it coming. Spoiler: They didn’t. For now, all eyes are on the Fed. If Powell sounds even slightly less hawkish, we might get a relief rally. If not? More red candles, more pain, and more wannabe traders saying, "I told you so." Until next time… 

If you read all of this, congrats for having a 10 second attention span (better than me). As always, here’s our heatmap for today.

P.S. You know that feeling when an insider sells $2.5 million shares of a chip stock that’s “supposed” to be the next Nvidia? If you don’t, then you need to join Stocks.News premium asap to get the first-hand look at these massive insider transactions before the rest of the retail world catches on. Spoiler: The stock has soared 400% over the last 12 months—so why in the hell is the Chief Technology Officer of this high-flying stock dumping his bags now? 

Stocks.News holds positions in Tesla as mentioned in the article.