US Indices Decline, Sector Weakness, Market Movers, Commodities Fluctuations, Mortgage Rates Drop, and Bitcoin Trends

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Index Update

US markets fell Tuesday, with the Dow (-1.14%), S&P 500 (-0.76%), and Nasdaq (-0.18%) declining. All 11 S&P 500 sectors ended lower, led by industrials, consumer staples, and healthcare. Tech giants Apple (-2.9%), Alphabet (-1.1%), and Oracle (-3.1%) saw losses. Sentiment weakened after Trump announced doubled tariffs on Canadian steel and aluminum, though Ontario later paused its electricity surcharge.

Market Movers

On Tuesday, the top gainers were 2seventy bio, Inc. (+76.07%), followed by LifeMD, Inc. (+25.06%). On the contrary Intuitive European Wax Center, Inc. (-46.77%) and Arvinas, Inc. (-39.64%) declined the most the same day.

Commodities Update

WTI crude oil rose toward $67 per barrel, driven by a weaker US dollar and reduced oversupply forecasts from the EIA. However, prices remained near multi-year lows due to trade uncertainties, OPEC+ output hikes, and rising US crude stocks. Increased Russian exports following a Ukraine truce also added pressure on prices.

Macro Update

US 30-year fixed mortgage rates fell to 6.67% (lowest since October) in the week ending March 7, 2025, down from 6.73% the previous week and 6.84% a year ago. Jumbo loan rates dropped to 6.68% (-15bps), while FHA-backed mortgage rates declined to 6.34% (-8bps), according to the Mortgage Bankers Association.

Futures Update

US stock futures rose as investors awaited inflation data, which could influence Federal Reserve policy amid inflation control and tariff-related economic risks.

Bitcoin traded at $82,701 on March 12, down 0.11% from the previous session. Over the past four weeks, it declined 14.41%,but gained 13.05% over the last 12 months.

U.S. stocks finished lower on Tuesday after a session marked by significant volatility, with all major averages ultimately closing in the red despite a recovery in the afternoon. Concerns over the global economic outlook and the possibility of a U.S. recession, fueled by the ongoing trade war, weighed on investor sentiment. The S&P 500 dropped by 42.47 points, or 0.76 percent, ending at 5,572.08, while the Nasdaq declined by 32.23 points, or 0.18 percent, to close at 17,436.10. The S&P 500 is currently testing crucial support levels, indicating the potential for a short-term relief rally. Additionally, the 14-period RSI is below the neutral midpoint, implying a possible uptick, with key resistance at 5,850 and support near 5,537.