Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were mixed ahead of Tuesday's stock market open.
Nvidia, Palantir Technologies and Tesla were big losers on the stock market today, as the Dow Jones Industrial Average plunged nearly 900 points.
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- and 200-day moving averages and more than 30% off their 52-week high. Nvidia stock fell 0.7% in extended trading.
Meanwhile, Palantir dived 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 lost another 2% after the close.
Finally, Tesla plummeted 15.4%, its lowest close since Oct. 23. Shares are more than 54% off their record high of 488.54, reached on Dec. 18. Tesla stock dropped 0.8% in evening trading.
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Trump Comment Sparks Stock Market Rout
In a Fox News interview that aired Sunday, President Donald Trump declined to rule out a recession this year, saying "There is a period of transition" that will eventually pay off for the economy.
Last week, Trump imposed 25% tariffs on Canada and Mexico, along with a further 10% hike on Chinese goods. He quickly provided one-month exemptions for autos and many other goods from Canada and Mexico. But the tariffs and related uncertainty appear to have dented investor and business confidence.
Commerce Secretary Howard Lutnick said Sunday that he expects 25% tariffs on steel and aluminum to go into effect as scheduled on Wednesday. Meanwhile, a slew of tariff deadlines loom April 2, including the Canada and Mexico exemptions.
Up next, the February consumer price index on Wednesday will headline the coming week's economic data. Wall Street expects further disinflation, as concerns shift from higher prices to lower growth.
But markets care more about the Federal Reserve's primary inflation rate, the core PCE price index, due on Thursday. It combines inputs from the CPI and the producer price index. In January, a hot core CPI reading was offset by some tame PPI data, especially cooling health care services inflation.
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Dow Jones Futures Today: Oil Prices, Treasury Yields
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%.
Ahead of Tuesday's opening bell, Dow Jones futures reversed from losses to move up 0.1% vs. fair value, while S&P 500 futures declined 0.2%. Tech-heavy Nasdaq 100 futures were off 0.3% vs. fair value. 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 ticked lower to 4.21%. And oil prices dropped, as West Texas intermediate futures settled around $66 a barrel.
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Earnings Movers: Oracle
Late Monday, Oracle reported weaker-than-expected fiscal third quarter earnings and sales results. And shares tumbled more than 3% in extended trading.
Earnings season slows this week, but Adobe is a big tech name reporting. Dick's Sporting Goods leads a slew of retailers due to report.
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What To Do Now After Dow Jones Sell-Off
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.
On Monday's "IBD Live" show, the team discussed the current trading conditions of the stock market action.
Due to the persistent weak action among the major stock indexes and top growth stocks, investors should be mostly, if not entirely, in cash. That's a key element of risk management during weak stock market environments.
Instead, investors should be creating and monitoring watchlists of stocks that are holding up better than the rest. They could be market leaders when the market trend shifts.
Nvidia, Palantir, Google Highlight Vicious Volatility. Now What?
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.
