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Stocks drop again

The S&P 500 extended last week's precipitous decline. All eyes are on next week's FOMC meeting.

MARKET RECAP

Stocks stumbled through a dismal week, with the S&P 500 and Nasdaq kicking off on shaky ground as lingering tariff fears fueled early losses. The S&P 500 fell nearly 3% on Monday, and ended the week in correction territory. Wednesday offered a flicker of relief as cooler-than-expected CPI data sparked a rally and eased inflation jitters. But it would be short-lived. The gains were quickly given back on Thursday as fresh tariff fears emerged. Weakness in the tech sector further contributed to the overall sentiment. Apple, for example, finished the week down over 8%. On Friday, the market rallied on news that a government shutdown would be reverted, though it wasn't enough to stop the S&P 500 from dropping over 2%. Overall, the energy minerals, utilities, and communications sectors led the pack, while consumer services, retail trade, and consumer durables lagged. Elsewhere, gold surged, buoyed by safe-haven demand, bitcoin mostly held within the prior week's trading range, and oil fell slightly on global growth concerns tied to the tariff overhang. Bond yields fell too, as investors sought safety from the uncertainty surrounding tariffs.

Past week Year-to-date 5-year
S&P 500 –0.9% –4.1% 144.0%
Oil (WTI crude) 0.8% –8.0% 199.7%
Gold (New York) 2.5% 12.5% 101.6%
Bitcoin 4.3% –10.4% 1,468.7%

Source: Yahoo Finance, as of March 14, 2025.

KEY DATA FOR THE WEEK OF MARCH 17

Investors eagerly await what could be the most consequential FOMC announcement in quite some time.

Qifu Technology (
) – Monday
Retail sales – Monday
XPeng  (
) – Tuesday
Housing starts and permits – Tuesday
PDD Holdings (
) – Wednesday
EIA petroleum status report – Wednesday
General Mills (
) – Wednesday
FOMC announcement – Wednesday
Accenture (
) – Thursday
Jobless claims – Thursday
Nike (
) – Thursday
Existing home sales – Friday
See the full earnings calendarLog In Required (login required). See the full economic calendar.

Source: Fidelity.com, as of March 14, 2025.

SCREEN OF THE WEEK

Here are 5 stocks from the Fidelity.com Stock Screener that made a new 52-week high during the week of March 10, 2025:

  • Root (ROOT)
  • Radius Recycling (RDUS)
  • TG Therapeutics (TGTX)
  • Franco-Nevada (FNV)
  • LexinFintech (LX)

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