Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, traded little changed ahead of Tuesday's open after President Donald Trump's tariffs triggered extreme stock market volatility.
Apple, Nvidia, Palantir Technologies and Tesla were big movers on the stock market today, as the Dow Jones Industrial Average sold off nearly 350 points.
Apple tumbled 3.7%, its lowest level since May 2. Shares of the iPhone maker have lost about 20% in just three trading sessions. Apple stock was up 0.5% late.
Nvidia reversed from early losses to rally 3.5%. And Nvidia stock added another 1.3% in extended trading.
Palantir stock jumped 5.2% Monday, still sharply below its 50-day line following recent heavy losses. Palantir tacked on 1.5% in evening action.
Finally, Tesla skidded 2.6%, falling sharply for a third straight session. Shares are more than 52% off their record high of 488.54, reached on Dec. 18. Tesla stock headed up 1.6% in evening trading.
The CBOE Volatility Index, known as the VIX, spiked above 60 for the first time since August. The fear gauge could be signaling at least a short-term market bottom soon, but it wouldn't have to be right away and it wouldn't have to last.
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Trump Tariffs
Midday Monday, President Trump threatened an additional 50% tariff on China, posting on Truth Social.
"Therefore, if China does not withdraw its 34% increase above their already long-term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th," he said. "Additionally, all talks with China concerning their requested meetings with us will be terminated! Negotiations with other countries, which have also requested meetings, will begin taking place immediately."
President Trump said Sunday evening that he's "not intentionally engineering" a market sell-off. But he added, "Sometimes you have to take medicine."
He added that he won't make deals with other countries unless the bilateral trade deficits are eliminated.
President Trump's 10% baseline tariffs on all trading partners started Saturday, with the much-higher bilateral rates for most partners beginning April 9.
Trump announced the massive tariff hikes last week, pushing average U.S. rates to the highest in a century. Those and other Trump tariffs are expected to have a massive impact on the economy and prices, significantly raising the risk of recession or stagflation.
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Dow Jones Futures Today: Oil Prices, Treasury Yields
On Monday, the Dow Jones Industrial Average declined 0.9%, or 349 points, while the S&P 500 fell 0.2% and the Nasdaq edged higher.
Ahead of Tuesday's opening bell, Dow Jones futures, along with S&P 500 futures and tech-heavy Nasdaq 100 futures, were little changed. Remember that overnight action in Dow Jones futures and elsewhere doesn't necessarily translate into actual trading in the next regular stock market session.
On Monday, the 10-year U.S. Treasury yield jumped to 4.15%. And oil prices dropped, as West Texas intermediate futures settled around $61 a barrel.
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Stocks To Watch: Ollie's, Spotify
Among the best stocks to watch Monday, Ollie's Bargain Outlet topped a 115.42 buy point in a double bottom last week, according to IBD MarketSurge. But shares are about 6% below their entry, as they declined another 4.6%.
Meanwhile, Spotify rallied 3.1% Monday. Shares of the music streaming giant are building a double bottom with a 621.20 buy point.
But with the stock market in correction mode, investors should be avoiding new purchases. Instead, investors should place these leaders on a watchlist for review until the overall environment improves.
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What To Do Now After Dow Jones Falls
Following Monday's stock market action, now is an important time to read IBD's The Big Picture column for the updated exposure level.
On Monday's "IBD Live" show, the team discussed the current trading conditions of the stock market action.
An essential resource for daily breakouts is IBD MarketSurge's "Breaking Out Today" list. It shows MarketSurge Growth 250 stocks that are breaking out past buy points. Meanwhile, the MarketSurge "Near Pivot" list shows more stocks nearing buy points in bases.
To find more stock ideas, check IBD Stock Lists like the IBD 50, Big Cap 20 and Stocks Near A Buy Zone. These features identify bullish patterns and buy points and are available to check every day.
Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
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