Multiple economists emphasized that March's cooling may be temporary, as President Donald Trump's reinforced tariffs and trade measures could reverse progress by raising consumer prices.
Snowflake Inc (NYSE:SNOW) shares are trading lower, pulling back from a broad market surge on Wednesday that lifted stocks across the board. The company on Thursday announced that it received Department of Defense (DOD) Impact Level 5 (IL5) authorization.
Despite the panic or dread that many people felt, the recent drop does not predict an economic recession nor further stock market declines, though they are certainly possible.
Hitting a new 52-week low can be a pivotal moment for any stock.
These floors often mark either the beginning of a turnaround story or confirmation that a company faces serious headwinds.
The Industrial Select Sector SPDR Fund declined 2.2% Thursday morning. Investors moved to lock in profits despite a surprisingly soft inflation report that reinforced Wednesday's bullish macro shift.
The benchmark index tumbled more than 1,060 points before recouping some of the losses, as traders evaluate the future course of action with respect to the Trump administration’s tariff action.
