The Dow Jones Industrial Average and other major stock indexes fell Tuesday with the Federal Reserve's two-day policy meeting set to get underway. On the losing end was Tesla, which tumbled on an analyst's price-target cut, while Nvidia sold off ahead of a critical address from Chief Executive Jensen Huang.
Early Tuesday, the Dow Jones Industrial Average fell 0.5%. The S&P 500 lost 1.1%. And the tech-heavy Nasdaq composite declined 1.8%.
The 10-year Treasury yield ticked higher to 4.31% early Tuesday. And oil prices rose, as West Texas Intermediate futures traded near $68.35 per barrel.
Among exchange traded funds, the Invesco QQQ Trust lost 1.8%, while the SPDR S&P 500 ETF fell 1.1% after the open.
Tesla stock tumbled 4.8% on Monday, erasing Friday's rebound. Shares are more than 51% off their record high of 488.54, reached on Dec. 18. Tesla stock skidded nearly 6% in morning trading Tuesday after RBC Capital lowered its price target from 440 to 320, but kept its outperform rating.
Meanwhile, the company raised the China price of its new Model Y Long Range by RMB 10,000 ($1,380) to RMB 313,500 on Tuesday. And Tesla China EV registrations picked up along with most other electric car makers in China.
Further, Nvidia declined nearly 2% Monday. Shares have rebounded a bit from their March 11 lows, but are still holding below their 50-day and 200-day moving averages. Nvidia stock sold off almost 4% in early trading Tuesday.
CEO Huang is due to give the keynote speech at GTC later Tuesday. He plans to discuss what's next in agentic artificial intelligence, robotics and accelerated computing. Analysts also expect Nvidia to unveil its GB300 AI chip at the show.
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Fed Meeting Kicks Off
The Fed's two-day policy meeting was set to kick off Tuesday, with an interest-rate decision set for Wednesday.
Along with its policy update, the Fed is expected to release new quarterly projections on interest rates, unemployment and inflation for 2025 and beyond. Markets currently expect the Fed to wait until June to cut rates again, with just 31% odds of a cut in May.
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Stock Market Today: Dow Jones Rises
On Monday, the Dow Jones Industrial Average rallied 0.9%, or 353 points, while the S&P 500 gained 0.6% and the Nasdaq rose 0.3%.
Following the recent market rebound, now is an important time to read IBD's The Big Picture column for the updated exposure level.
Among the best companies to watch in the current stock market are Aon, Berkshire Hathaway, Tradeweb Markets and Uber Technologies.
Along with Apple and Nvidia, Dow Jones components making notable moves this week were Amazon.com, Microsoft and Travelers.
Check out IBD MarketSurge's "Breaking Out Today" list for top growth stocks that are moving above correct buy points. Check for potential breakouts on the "Near Pivot" list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
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Dow Jones: Travelers Hits Buy Point
Dow Jones component and insurance giant Travelers broke out past a 263.08 handle buy point Monday, according to MarketSurge chart analysis. Shares dipped 0.1% Tuesday.
Outside the Dow, Tradeweb Markets is breaking out past a cup-with-handle's 140.48 entry. Meanwhile, the RS line triggered the blue dot, which is a sign of strong stock market outperformance. Shares edged lower Tuesday.
Warren Buffett's Berkshire Hathaway rallied 1.6% Monday, moving out of the buy range above a 491.67 cup-base entry. Shares added 0.5% Tuesday morning.
Uber has a handle entry at 82.10 and shares are looking for much-needed support at their 50-day line amid the ongoing pullback. The ride-share giant was a recent IBD Stock Of The Day. Uber stock fell 0.9% Tuesday.
Finally, IBD Leaderboard stock Aon is trying to find support around a 395.33 buy point in a cup base following a recent breakout move. Its RS line hit a new high last week. Shares lost a fraction in morning trades Tuesday.
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Stock Market Today: Companies To Watch
These are four stocks in or near buy zones in today's stock market, including a Dow Jones leader and the Warren Buffett-led stock.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Uber Technologies | 82.10 | Cup with handle | |
| Travelers | 140.48 | Handle entry | |
| Berkshire Hathaway | 491.67 | Cup base | |
| Tradeweb Markets | 140.48 | Cup with handle |
Source: IBD Data as of March 17
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Dow Jones Leaders: Amazon, Apple, Microsoft
Magnificent Seven stocks continue to face heavy selling pressure as investors rotate out into fresh sectors or defensive names. Dow Jones component Amazon is below its 200-day line following big losses in recent weeks. Amazon moved down 2.9% early Tuesday.
Apple, which rose for a second straight session Monday, remains far below its 200-day line amid recent losses. Apple stock fell 0.4% in morning trades Tuesday.
Finally, software giant Microsoft dropped 1.5% Tuesday. Shares hit a new 52-week low last week, but are rebounding.
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
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