The Dow Jones Industrial Average was back near the highs of the day as the other major indexes remained weak in the final hour of trading Tuesday amid President Donald Trump's plans to start imposing tariffs on imports from Mexico and Canada. Among those taking a gut punch was Tesla, which fell sharply on the stock market today.
The Dow Jones managed a gain of 0.4% after whipsaw action throughout the session, getting help from component Home Depot. The blue chip index tested its 50-day moving average.
Stocks on the S&P 500 lost 0.4%, as the index held below its 50-day line and the 6,000 level. Meanwhile, the Nasdaq composite dropped another 1.4% and sank further below its 50-day line after Monday's 1.2% plunge.
Small caps also showed improvement from earlier in the session, after four days of steep drops. The Russell 2000 dipped 0.4% and remained well below its 200-day moving average.
Volume was higher on both the Nasdaq and the New York Stock Exchange vs. the same time Monday. On the Nasdaq exchange, falling stocks topped rising issues by more than 3-to-2. But on the New York Stock Exchange, gainers topped losers by 4-to-3.
Treasury Yields, Oil, Bitcoin All Down
The 10-year Treasury yield shed 10 basis points to 4.29%. And crude oil fell 2.3% to $69.07 a barrel Tuesday.
Meanwhile, bitcoin continued its slide and plunged 6.8% to sit under the $88,000 level. Bitcoin-related stocks and exchange traded funds fell, including the ProShares Bitcoin ETF, with a drop of more than 6%.
Cryptocurrency platform operator Coinbase Global lost 6.4% and is on pace for its seventh straight day of losses.
The Conference Board's consumer confidence report for February came in at 98.3 vs. the 103 expected and lagged January's revised 105.3 reading.
Stock Market Today: Tesla Drops Below The $1 Trillion Mark
Electric-vehicle giant Tesla was among those feeling the pain with shares plunging more than 8% at the close Tuesday. Tesla recorded its fourth-straight daily loss.
The electric vehicle giant saw its new vehicle registrations in the European Union and the U.K. fall sharply in January. This follows a similar drop in France during January. The stock's drop has now squeezed its valuation to below $1 trillion for first time in three months.
3:32 p.m. ET
Stock Market Today: These Techs Add To Losing Streaks
Meanwhile, some Big Tech names added to their own losing streaks. Meta Platforms retreated more than 1% as it was dethroned from its record high reached in mid-February. The IBD 50 and Big Cap 20 stock is on pace for a six-day losing streak.
Meta stock tested its 50-day line, seeking support. It has fallen around 11% from the February high and given back nearly all gains from the 638.40 buy point of a flat base breakout.
Palantir Technologies slid more than 3% as it looks to extend its losing streak to five days. Shares have dropped 30% from its all-time high reached Wednesday.
Lastly, Nvidia added to Monday's 3.1% loss, and was on track for its third straight day of losses.
Shares are in a choppy consolidation and below the 50-day line, though they are finding support at the 200-day line. The artificial intelligence giant reports its January-ended quarter results Wednesday after the market close.
2:04 p.m. ET
Four Big Losers Including Two IBD 50 Names
IBD 50 name Robinhood Markets fell again and is on pace for its sixth straight day of losses. Shares have given back around 32% after reaching a record high in mid-February. The stock violated its 50-day line on the stock market today. The online broker offers bitcoin trading through its platform and is sinking in sympathy with the drop in cryptocurrency.
Sempra plummeted more than 18% in enormous volume after the company sorely missed fourth-quarter sales and earnings estimates. In addition, it gave a full-year 2025 profit outlook that was well below forecasts. The natural gas and electricity stock flashed a sell signal after slicing through its 50-day and 200-day lines. Sempra was the biggest loser on the S&P 500 Tuesday.
Veracyte tumbled following the company's miss on fourth-quarter profit projections with higher sales. The cancer test developer dug deeper below its 50-day line but found support at its 200-day line. Shares had already triggered a sell signal in mid-February after violating its 50-day line.
IBD 50 component Grindr shares fell from the buy zone of an irregular base and are back below an 18.35 entry point. The online dating app stock tested its 50-day line, seeking support.
12:35 p.m. ET
Medical Name Soars On Buyout News
Solventum, a medical products stock, popped more than 9% in heavy volume and broke of out a cup-with-handle base with a 76.80 buy point. Shares are extended from a buy zone. The move came following news that Thermo Fisher Scientific announced it will buy Solventum's purification and filtration business for around $4.1 billion in cash, according to The Wall Street Journal.
Solventum stock reached a level not seen since its initial day of trading March 26. Thermo Fisher inched up modestly but remains below its 50-day line. Thermo Fisher shares have been on a downward spiral since the medical services provider reported its fourth-quarter earnings in late January. The stock has a weak 35 IBD Relative Strength Rating.
Goosehead Insurance trimmed larger morning gains but still managed a surge of nearly 16% in heavy volume after the insurance provider handily beat fourth-quarter profit and revenue estimates. The company also provided a full-year 2025 revenue outlook between $350 million and $385 million.
Shares jumped above the buy range from a 118.51 buy point out of a cup-with-handle base, according to its MarketSurge weekly chart. In addition, its relative strength line reached a 52-week high, as seen by the blue dot on the weekly chart.
ProAssurance popped more than 14% after the health care insurance provider crushed fourth-quarter earnings and sales expectations. Shares retook the 50-day line within a skewed consolidation pattern. The insurance stock has been on a downtrend since it peaked in November, as seen in its relative strength line.
11:07 a.m. ET
Hims & Hers Topples
Hims & Hers Health cratered in huge volume Tuesday despite the company reporting in-line earnings for the fourth quarter and higher sales than estimates.
Shares reached a new high Wednesday followed by two days of heavy selling before Monday's bounce. The IBD 50 stock got hit Friday on news that weight-loss drugs Ozempic and Wegovy made by Novo Nordisk are no longer in short supply.
Hims & Hers makes a knockoff version of Wegovy. Novo stock climbed 1.6% on the stock market today.
Tempus AI plummeted more than 15% in heavy trading after the medical artificial intelligence company missed fourth-quarter sales forecasts with a smaller-than-expected earnings loss. Shares have dropped around 34% from their record high, reached Feb. 14. The stock started trading on June 14, with an initial offering price of $37 per share.
Dow Jones component Home Depot surged after the home improvement retailer beat January fiscal fourth-quarter profit and revenue projections. But it predicted a 2% decline in fiscal 2025 earnings with sales mostly in line and same-store sales lagging. Shares are climbing off the bottom of an irregular base with a 439.37 buy point, with an early entry at 426.19.
Futures: Growth Still Struggles As Tesla, Hims Dive; Axon Jumps Late
Stock Market Today: DigitalOcean Rises As Trip.com Dives
DigitalOcean rallied after the firm topped fourth-quarter earnings and sales expectations. Shares reclaimed the 50-day and 21-day exponential moving averages on the stock market today.
The stock is back in the buy zone of a double-bottom base, after a drop of 20% over the last four trading sessions. It had given back nearly 14% from the 41.37 buy point, creating a round-trip sell signal. Digital Ocean offers cloud and artificial intelligence services.
Trip.com Group skidded in huge volume and undercut its 200-day line, triggering a sell signal. The China-based travel stock sank despite positive fourth-quarter earnings and sales results. But profit growth has been decelerating.
Follow Kimberley Koenig for more stock market news on X, the platform formerly known as Twitter, @IBD_KKoenig.
