#MarketAlert | Many stocks have recovered from over 10% to as much as 24% from March lows
Take a quick look at the top gainers from the recent market slump👇#Nifty #StockMarket #StockMarketIndia pic.twitter.com/uD5nGOB0A1
— ET NOW (@ETNOWlive) March 24, 2025
Stocks rallied on Friday, clawing back some of the steep losses seen over the week as investors got a reprieve from tariff-related headlines. The Dow Jones Industrial Average rose 674.62 points, or 1.65%, to close at 41,488.19. The S&P 500 climbed 2.13% to end at 5,638.94, and the Nasdaq Composite advanced 2.61% to settle at 17,754.09.
Big tech shares that were rattled earlier this week saw a sharp recovery on Friday. Apple shares popped more than 5%, Amazon jumped nearly 4%, and Microsoft gained close to 3%.
Stock Market: Investors gain Rs 22.12 lakh crore in 5 days as Sensex zooms 3076 points or 4%#StockMarket https://t.co/q4E0QUcjZd
— ET NOW (@ETNOWlive) March 22, 2025
Stocks bounced after a lack of new headlines out of the White House related to tariffs, easing concerns around escalating tensions for the time being.
Investors might also be scooping up shares after a stock market pullback on Thursday. Friday’s rally, however, couldn’t spare the three major averages from weekly losses. The Dow fell roughly 3.1% for its worst week since March 2023.
Even though the S&P 500's 6.1% decline is the worst start since 2020, the decline isn't unprecedented.@PhilBlancato tells @USAToday that since 1928, there have been 17 years with similar drops, and 10 of those years ended positively. https://t.co/wt6nSsQuyu
— Osaic (@osaic_inc) March 21, 2025
The S&P 500 and the Nasdaq both dropped more than 2% and posted their fourth consecutive losing week. Adding to Friday’s positive sentiment was Senate Minority Leader Chuck Schumer, D-N.Y., expressing optimism following the approval of a Republican government funding bill. However, data released Friday from the University of Michigan confirmed that consumer confidence has suffered from ongoing tariff-related uncertainty, dropping to 57.9, lower than the 63.2 economists had expected.
“Consumer sentiment came in worse, inflation expectations are rising.
Tech stocks lead market rebound
You would think that the market would be off.
So a lot of folks are watching to see if this rally has any breadth or legs,” said Thomas Martin, portfolio manager at Globalt Investments. Investors are gearing up for the Federal Reserve’s policy meeting scheduled for next week, where fed funds futures are pricing in a hold on interest rates. Despite Tesla’s bounce on Friday, the electric vehicle maker is poised to extend its historic weekly losing streak.
While shares rose around 4% in Friday’s session, Tesla has tumbled more than 4% this week. If that holds, it would mark the stock’s eighth-straight down week — a new record. Every sector in the S&P 500 was seeing gains on Friday, boosting the broad market index’s recovery from the week’s sizable declines.
Gains were led by energy and information technology stocks, with each rising nearly 3%. They were followed by a more than 2% increase from financials and consumer discretionary names. Shares of data management company Rubrik rose almost 28% during Friday’s session, which put the stock on pace for its largest percentage increase in a single day ever.
The stock’s next best day on record was Dec. 6, 2024, when it climbed 20.4%. Friday’s gains add to the stock’s substantial rise in recent months, as it’s seen a more than 131% increase over the past six months.
