Dow Tumbles Over 600 Points, Checkpoint Therapeutics, Robinhood NASDAQ Stocks Create Market Chaos: Nasdaq Slumps 700 Points

10 March, 2025 | 3 Min Read

tickers affected by this

ticker	polarity	why?
RDFN	positively	If the article is about ticker RDFN, according to the information provided Redfin (RDFN) is getting a boost since Rocket Companies (RKT) agreed to a new all-stock acquisition. This acquisition would not only benefit Redfin but also may cause Rocket Companies stock to be sold more because it will worsen its acquisitions even more. Mutual fund companies will start selling off more Rocket Companies shares, so the acquiring company will pay the stocks in full causing more shares to be sold and therefore RDFN stocks to rise.
NPWR	positively	NET Power (NPWR) may see a positive impact from the current market conditions and rising inflation expectations. With energy leading the sectors and oil prices stabilizing, the company operations, which might be in perpendicular to energy and oil can potentially benefit lower input costs or higher demand for its services and products. Additionally, a downturn in the broader market could present opportunities for companies to acquire assets at lower valuations should they need to expand their business.
CKPT	positively	Checkpoint Therapeutics (CKPT) may be positively affected by the market downturn, as volatility can present opportunities for speculative investments. If CKPT has strong fundamentals or positive catalysts (such as upcoming clinical trial readouts or partnership announcements), investors seeking to capitalize on discounted valuations might drive up the stock price. Additionally, if the broader market pullback is seen as a temporary correction, there might be optimism that a recovery could benefit CKPT, thus positively influencing its stock performance in the short term
HOOD	negatively	The decline in the Nasdaq Composite and broader market sentiment, coupled with the significant drop in tech stocks, could negatively impact HOOD, as negative market sentiment typically reduces investor appetite for risky assets. Additionally, the surge in U.S. consumer inflation expectations to 3.1% could further pressure HOOD, as higher inflation often leads to increased interest rates, making borrowings more expensive for companies with significant debt. Furthermore, the drop in silver prices, which HOOD has historically correlated with based on speculative market trends, could imply potential negative movement in the stock price.

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summary

U.S. Stocks Tumble Mid-Morning, Nasdaq Falls 700 Points

U.S. equities slid midway through the trading day, with the Nasdaq Composite plunging more than 700 points, marking a significant downturn. The Dow Jones Industrial Average fell 1.43% to 42,190.51, while the Nasdaq Composite dipped by 3.90% to 17,486.28. The S&P 500, too, experienced a drop, falling 2.46% to 5,628.52. Leading and lagging sectors: Energy leads, tech drops. Oil slides 0.9% to $66.45, silver slumps 0.5% to $32.635 while gold trades near $2,914.90.

Notable Discoveries

Stocks on the rise and decline include Mineralys Therapeutics (MLYS) surging 53% and NET Power (NPWR) plunging 58% following earnings misses. Redfin (RDFN) got a boost after Rocket Companies (RKT) agreed to a new all-stock acquisition.

European and Asian Markets

Globally, European markets also witnessed declines, with the eurozone’s STOXX 600, Germany’s Dax 40, and France’s CAC were unfriendly. London’s FTSE 100 also dropped 0.80%. In Asia, markets closed mostly negative, with Japan’s Nikkei exceptions rising 5.38 while Hong Kong and Shanghai witnessed their pronounced dropped by 3.85% and 0.86% respectively.

U.S Inflation Expectations Rise

U.S. consumer inflation expectations for the year ahead increased to 3.1% in February from 3% in the prior three months. Unchanged financial press scrolling