The Dow Jones Industrial Average and other major stock indexes traded lower Tuesday after President Donald Trump unveiled his latest tariffs on Canada. Nvidia, Palantir Technologies and Tesla were among those that rebounded on the stock market today.
Early Tuesday, the Dow Jones Industrial Average fell 1%, or more than 400 points, while the S&P 500 dropped 0.7%. The tech-heavy Nasdaq composite moved 0.4% lower in morning trades.
The 10-year Treasury yield ticked higher to 4.23% early Tuesday. And oil prices rose, as West Texas Intermediate futures traded near $66.85 per barrel.
Among exchange traded funds, the Invesco QQQ Trust gained 0.5%, while the SPDR S&P 500 ETF inched down after the open.
Nvidia tumbled more than 5% Monday, hitting new recent lows and closing at its lowest level since Sept. 9. Shares are sharply below their 50-day and 200-day moving averages and more than 30% off their 52-week high. Nvidia stock gained 2.4% in morning trading.
Also on Monday, Palantir plunged more than 10%, closing at its lowest level since Jan. 27. The stock broke its 50-day line last week, a key sell signal. Palantir stock rose 4% after the market open.
Finally, Tesla plummeted 15.4% on Monday, its lowest close since Oct. 23. Shares are more than 54% off their record high of 488.54, reached on Dec. 18. Tesla stock moved up 4.8% in early trading.
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New Trump Tariffs, JOLTS Report, Earnings Movers
Just after the market open Tuesday, President Trump ordered an additional 25%-50% tariff on all steel and aluminum coming into the U.S. from Canada. The tariffs will go into effect Wednesday morning, according to President Trump's post on Truth Social.
The Labor Department's Job Openings and Labor Turnover Survey, or JOLTS report, showed that job openings unexpectedly rose to 7.74 million in January. They were expected to decline to 7.5 million in January vs. December's 7.6 million reading as the labor market cools, according to Econoday estimates.
Late Monday, Oracle reported weaker-than-expected earnings and sales for its fiscal third quarter. And shares fell 3% in morning trading.
Other key earnings reports affecting Tuesday trading include Asana, Delta Air Lines and Dick's Sporting Goods.
Asana shares crashed by more than 27% after the software maker's fiscal 2026 revenue outlook came in well below expectations. Further, Asana's co-founder and chief executive, Dustin Moskovitz, plans to retire.
Delta Air Lines tumbled more than 3% after cutting its first-quarter earnings forecast below estimates, while shares of Dick's Sporting Goods declined nearly 2% in early action.
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Stock Market Today: Dow Jones Sells Off
On Monday, the Dow Jones Industrial Average sold off 2.1%, or 890 points, while the S&P 500 lost 2.7% and the Nasdaq tumbled 4%. Following Monday's stock market sell-off, 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 Tradeweb Markets, Uber Technologies, Veeva Systems and Eli Lilly.
Along with Apple and Nvidia, Dow Jones components making notable moves Monday were Amazon.com, Microsoft and McDonald's.
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: McDonald's Breaks Out Past Buy Point
Dow Jones component McDonald's is breaking out past a cup-with-handle's 311.59 buy point, according to MarketSurge pattern recognition, despite a 1.3% drop Monday. Shares lost 1.5% in morning action Tuesday.
Outside the Dow, Tradeweb Markets is tracing a cup with handle that has a 140.48 entry and is seeing firm support at its 50-day line so far. Shares rose 1.1% Tuesday.
Uber has a handle entry at 82.10 and shares are testing their 50-day line amid the ongoing pullback. The stock was a recent IBD Stock Of The Day. Uber stock was up 0.5% Tuesday.
Finally, Veeva stock slipped 2.9% Monday, falling just below an early entry at 240.95. Shares are forming a cup base that has a 258.93 buy point. Shares of the software leader declined 2% Tuesday morning.
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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.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Uber Technologies | 82.10 | Cup with handle | |
| McDonald's | 311.59 | Cup with handle | |
| Veeva Systems | 258.93 | Cup base | |
| Tradeweb Markets | 140.48 | Cup with handle |
Source: IBD Data as of March 11
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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 triggered a sell signal in recent weeks, falling sharply below a 233 buy point and the 200-day line. Amazon moved up 2.3% early Tuesday.
Apple, which took a dive Monday, is trying to stem its sell-off at the 200-day line. Apple stock lost 2.2% in morning trades Tuesday.
Finally, software giant Microsoft rose 0.7% Tuesday. Shares hit a new 52-week low Monday, with a 3.3% drop.
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.
