“I thought February was supposed to be a slow month for market chaos?” Yeah me too, but once again, Wall Street just got bodied from all angles with the center being Nvidia, Tesla, a consumer confidence nosedive, and Trump pounding tariffs every which way he can.
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In short, the Nasdaq tanked 1.35%, led by Nvidia (-2.8%) and Tesla (-8%) getting absolutely wrecked. Meanwhile, the S&P 500 (-0.5%) took a hit for the fourth straight session, while the Dow (+0.4%) somehow made it out alive from this horror movie. For Nvidia, we have the earnings drop on Wednesday that already has investors sweating bullets over AI chip demand–to which I say, read our latest article on how DeepSeek just made AI stronger.
However, when it comes to Tesla, shares cratered more than 8% after European sales collapsed 45% in January. Turns out, when you slash prices every other week, people start waiting for the next discount instead of buying cars. Duhhh. Speaking of consumers craving discounts, consumer confidence just suffered its biggest drop in nearly four years. Inflation fears? Yes. Recession paranoia? Double yes.
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People are fully convinced the economy is about to get smoked, and when consumers start clutching their wallets like it’s the Great Depression, that’s bad news for basically everyone. Retailers, automakers, and everyone else (except toilet paper, folks)--nobody is safe.
In crypto land, Bitcoin dropped below $90K for the first time since November, briefly touching $86K before stabilizing around $88K. Ether also took a 6% dump, which had Coinbase and Strategy getting body bagged as well (down -6.42% and -11.41%, respectively).
What’s more is that Donnie Politics has confirmed that tariffs on Mexico and Canada are coming next week. Naturally, this has investors freaking out over what this means for economic growth. So yeah, between tech stocks getting annihilated, consumer confidence collapsing, and Trump stirring up trade wars, the market is fragile AF right now.
Meaning, if Nvidia’s earnings don’t absolutely crush the ungodly level of expectations Wall Street has set—we’re in for a bloodbath, people. 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.
Stocks.News holds positions in Tesla as mentioned in the article.
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