Leading cryptocurrencies extended losses Monday, mirroring the stock rout, as investors get jittery over recession concerns.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-4.54%</td><td>$76,982.36</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-9.88%</td><td>$1,821.41</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-11.00%</td><td>$0.1478</td></tr></tbody></table></figure>



What Happened: Bitcoin sank below $77,000 to hit a four-month low. The leading cryptocurrency was down 29% from its all-time high, wiping away nearly all of the gains since <a href="https://www.benzinga.com/opinion/24/11/41754497/how-to-trade-a-trump-win-and-a-trump-loss">Trump's victory</a> in the presidential elections.



Ethereum slipped below $1,800, its lowest since October 2023. Year-to-date, the second-largest cryptocurrency has plunged over 45%.



The downturn comes despite President Donald Trump signing an executive order for a <a href="https://in.benzinga.com/25/03/44183572/trump-establishes-strategic-bitcoin-reserve-funded-by-forfeited-assets-i-made-the-promise">Strategic Bitcoin Reserve</a> last week.



About $926 million was liquidated from the cryptocurrency market in the last 24 hours due to the slump, with $742 million in long positions getting erased.



That said, Bitcoin's recovery to $85,000 would liquidate about a billion in short positions.&nbsp;



Bitcoin's Open Interest fell 3.83% over the last 24 hours, while the number of traders positioned short on the asset soared to 52% of the total.



The Crypto Fear and Greed Index remained in the "Extreme Fear" zone, signaling anticipation of further downsides.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Movement (MOVE)</td><td>+7.89%</td><td>$0.4805</td></tr><tr><td>MANTRA (OM)</td><td>+2.79%</td><td>$6.25</td></tr><tr><td>Mantle (MNT)</td><td>+2.46%</td><td>$0.6795</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $2.54 trillion, contracting 4.25% in the last 24 hours.



Stocks came crashing down Monday. The Dow Jones Industrial Average tumbled 890 points, or 2.08%, to close at 41,911.71. The S&amp;P 500 slipped 2.69%, ending at 5,614.56, while the tech-heavy Nasdaq Composite plunged 4% to close at a six-month low of 17,468.32.



Concerns over the U.S. economy weighed on the market after Trump seemed to acknowledge the <a href="https://www.benzinga.com/25/03/44222440/financial-crime-weekly">possibility of a U.S. recession</a> in an interview over the weekend.



See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>



Analyst Notes: Well-known on-chain analytics firm CryptoQuant assessed whether the prevailing market phase was the beginning of a bear or bull dip.



"In a typical bull market, people move their sats in profit, resulting in an SOPR greater than 1, unlike in a bear market. From this perspective, the bull market still seems to be in play," the firm said, referring to the Spent Output Profit Ratio, a metric used to measure the profitability of transactions.



CryptoQuant also noted that the funding rates still resembled the 2020-21 bull market pattern.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Is it the beginning of a bear or bull dip? "For bulls to be convinced that the market has shifted, SOPR and funding rates need to drop below critical levels more frequently than before." – By <a href="https://twitter.com/aytekin466?ref_src=twsrc%5Etfw">@aytekin466</a> Full post &#x1f447;<a href="https://t.co/3kT2yfRD2E">https://t.co/3kT2yfRD2E</a> <a href="https://t.co/OuFXfI2JcH">pic.twitter.com/OuFXfI2JcH</a>&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1899121567818273099?ref_src=twsrc%5Etfw">March 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Arthur Hayes, co-founder of cryptocurrency exchange BitMEX and Chief Investment Officer at Maelstrom Fund, urged his followers to remain patient.



"BTC likely bottoms around $70,000. 36% correction from $110,000 ATH, v normal for a bull market," Hayes said.&nbsp;



Hayes urged that risk-averse investors wait until the central bank eases monetary policy before deploying capital.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The plan: Be fucking patient. <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> likely bottoms around $70k. 36% correction from $110k ATH, v normal for a bull market. Then we need stonks, <a href="https://twitter.com/search?q=%24SPX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPX</a> and <a href="https://twitter.com/search?q=%24NDX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NDX</a> to enter free fall. Then we need TradFi muppet to go under. THEN we get Fed, PBOC, ECB, and BOJ all easing to make…&mdash; Arthur Hayes (@CryptoHayes) <a href="https://twitter.com/CryptoHayes/status/1899261481805566368?ref_src=twsrc%5Etfw">March 11, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo by Avi Rozen on Shutterstock



Read Next:    



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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44229559/coinbase-to-introduce-24-7-crypto-futures-plans-perpetual-style-contracts-for-us-market">Coinbase To Introduce 24/7 Crypto Futures, Plans Perpetual-Style Contracts For US Market</a></li>
</ul>

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Bitcoin, Ethereum, Dogecoin Sink Deeper As Recession Worries Overshadow Crypto Market: Arthur Hayes Has This Advice For Risk-Averse Traders

On Monday, Cathie Wood&#8216;s Ark Invest made significant trades involving Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) , Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Tempus AI Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>), and Robinhood Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>). These trades occurred against a backdrop of market volatility, with recession fears and economic concerns impacting investor sentiment.



Wood predicts a &#8220;deflationary boom&#8221; in the <a href="https://www.benzinga.com/markets/equities/25/03/44239278/cathie-wood-stands-by-deflationary-boom-call-as-gene-munster-compares-market-turmoil-to-dot-com-bubble">second half of the year</a>, seeing the current market turmoil as the final phase of a rolling recession. She believes this will give Trump's administration and the Fed more flexibility than investors expect. Her prediction was made on a day when the <a href="https://www.benzinga.com/news/large-cap/25/03/44237691/magnificent-7-sheds-over-750-billion-in-market-cap-in-one-day-is-big-techs-honeymoon-over">Magnificent 7 shed over $750 billion</a> in market cap as U.S. markets saw a major sell-off.



The Tesla Trade



Ark Invest&#8217;s flagship fund, ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), acquired 68,164 shares of Tesla on Monday. The purchase comes as Tesla&#8217;s stock faces pressure due to <a href="https://in.benzinga.com/25/03/44232237/whats-going-on-with-tesla-shares-monday">increased competition</a> from Chinese EV manufacturers and declining demand in Europe. Tesla shares closed at $222.15, down 15.43% from the previous session. Additionally, ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>) added 11,154 Tesla shares. The two transactions amounted to $17.62 million. Notably, Tesla was the largest loser among the Magnificent 7 stocks in Monday&#8217;s sell-off.



The Palantir Trade



Ark Invest also increased its holdings in Palantir by purchasing 123,667 shares through ARKK. Palantir&#8217;s stock, which closed at $76.38, saw a 10.05% decline amid broader market downturns. Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) also added 28,567 shares of Palantir, highlighting Ark&#8217;s strategic focus on data analytics and AI-driven companies. The total purchase value was $11.63 million. Palantir was one of the companies that <a href="https://in.benzinga.com/general/market-summary/25/03/44227856/nasdaq-sp-500-hit-6-month-lows-as-recession-fears-grow-whats-driving-markets-monday">led tech stocks lower</a> in Monday&#8217;s sell-off.



The Coinbase Trade



Amidst a turbulent day for crypto stocks, Ark Invest seized the opportunity to buy 52,753 shares of Coinbase through ARKK. Coinbase shares fell 17.58% to $179.23, influenced by Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) drop and <a href="https://www.benzinga.com/25/03/44225814/bitcoins-drop-shakes-crypto-stocks-coin-hood-mara-riot-dip-but-are-traders-seeing-a-bargain">exclusion from the S&amp;P 500</a>. The purchase was worth approximately $9.46 million. ARKF also acquired 11,605 shares, reinforcing Ark&#8217;s bullish stance on the cryptocurrency exchange. All in all, Ark bought $11.53 million worth of Coinbase shares on Monday.



The AMD Trade



Ark Invest&#8217;s interest in the semiconductor sector was evident with the acquisition of 94,377 AMD shares through ARKK. AMD&#8217;s stock closed at $96.63, down 3.67%. The transaction was valued at about $9.12 million. Additional purchases were made by ARKQ and ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>), with 17,271 and 30,235 shares, respectively. ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>) also purchased 5,668 AMD shares. The four transactions were worth $14.62 million in total. On Monday, Alibaba Group unveiled the XuanTie C930 processor, the pivot of China toward <a href="https://www.benzinga.com/markets/emerging-markets/25/03/44229408/alibaba-unveils-new-ai-chip-to-power-chinas-open-source-tech-push-challenge-us-chip-giants">open-source chip technology architecture</a> challenges AMD&#8217;s control on the x86 chip standard. 



The Tempus AI Trade saw Ark Invest purchasing 122,875 shares of Tempus AI through the ARKK ETF. This acquisition follows a previous buy as Ark continues to capitalize on opportunities within the AI sector. The stock closed at $45.17, marking an 8% decline. Based on Monday&#8217;s closing price, Ark purchased $5.55 million worth of Tempus AI shares. Wood has been <a href="https://www.benzinga.com/25/03/44183861/cathie-wood-smelling-ai-opportunity-ark-invest-buys-tempus-ai-dip-scoops-up-over-13-m-worth-of-stock">loading up</a> on Tempus AI stocks; last week, Ark acquired stock worth $13.23 million.



The Robinhood Trade involved Ark Invest acquiring 269,864 shares of Robinhood via the ARKK ETF. Robinhood&#8217;s shares fell 19.79% to close at $35.63 amid broader financial sector concerns. The purchase, valued at about $9.61 million, suggests Ark&#8217;s confidence in Robinhood&#8217;s long-term potential despite short-term market volatility. Robinhood shares dropped amid <a href="https://www.benzinga.com/trading-ideas/movers/25/03/44235019/robinhood-shares-are-down-today-whats-going-on">market volatility</a> triggered by Trump&#8217;s tariff imposition on Canada and Mexico.



Other Key Trades:



<ul>
<li>Sold Block Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYZ#NYSE">XYZ</a>) stock worth $20.61 million through ARKK and ARKW.</li>



<li>Sold Uipath Inc. (PATH) stock through ARKK, ARKQ and ARKX.</li>



<li>Purchased Ibotta Inc (IBTA) shares through ARKW and ARKF.</li>



<li>Purchased Shopify Inc (SHOP) stock through ARKK and ARKF.</li>
</ul>



Image via Shutterstock



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/03/44239298/bitcoin-ethereum-dogecoin-sink-further-as-recession-worries-plague-crypto-market-arthur-hayes-has-this-advice-for-risk-averse-traders-in-the-ongoing-slump">Bitcoin, Ethereum, Dogecoin Sink Deeper As Recession Worries Overshadow Crypto Market: Arthur Hayes Has This Advice For Risk-Averse Traders</a></li>
</ul>



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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Cathie Wood Goes On Shopping Spree Amid Tech Bloodbath Monday: Loads Up On Tesla, Palantir, Coinbase And These Stocks

Shares of Magnificent Seven technology companies soared in 2023 and 2024 due to <a href="https://www.benzinga.com/news/large-cap/24/07/39937929/magnificent-7-still-comprise-over-30-of-s-p-500-despite-tech-correction">optimism about artificial intelligence</a> and favorable macroeconomic conditions.



After <a href="https://www.benzinga.com/general/market-summary/25/03/44227856/nasdaq-sp-500-hit-6-month-lows-as-recession-fears-grow-whats-driving-markets-monday">historic price action</a> Monday, has the music finally stopped for Big Tech&#8217;s rally?



What Happened: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) saw one of its biggest down days in recent years during the Monday trading session. The index as a whole fell 2.66%; at one point, it traded down around 3.5% before rallying.



The Magnificent Seven comprises around 30% of the index, according to data from Benzinga Pro. On Monday, shares of the companies posted major losses.



<ul>
<li>Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) fell 4.85%</li>



<li>Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) fell 3.34%</li>



<li>NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) fell 5.07%.</li>



<li>Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) fell 4.52%</li>



<li>Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), the only component to outperform the S&amp;P 500, fell 2.36%</li>



<li>Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) fell 4.42%</li>



<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell by a staggering 15.43%</li>
</ul>



Collectively, the seven companies shed around $750 billion in market capitalization in a single day.



While the S&amp;P 500 has not yet entered correction territory, the tech-focused Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) crossed the 10% threshold indicating a correction.



Why it Matters: An investor who bought $100,000 worth of each of the seven companies at the beginning of the year would be left with around $59,720.72 today.



Tesla&#8217;s stock has wiped out more than half of its value since all-time highs in December. The Austin, Texas-based company&#8217;s meteoric rise in the aftermath of the 2024 election was perhaps tied to optimism about CEO Elon Musk&#8216;s political influence in the Trump Administration.



Musk could be hindering Tesla&#8217;s operations with his political activism. Sales of the company&#8217;s electric cars <a href="https://www.benzinga.com/25/02/43765071/teslas-california-sales-hit-four-year-low-amid-political-concerns-researcher-says-left-leaning-customers-are-turning-away-from-ev-giant">cratered in areas</a> that voted against Trump. Foreign markets have been even less favorable —&nbsp;in Europe, <a href="https://www.benzinga.com/news/25/03/44209579/unprecedented-slide-tesla-sales-plummet-45-in-europe-as-musks-net-worth-dives-5-2b-in-a-week">sales of Teslas</a> fell 45% in one week.



Nvidia&#8217;s stock has similarly posted massive losses in recent weeks, losing over $800 billion in value since Trump&#8217;s inauguration. <a href="https://www.benzinga.com/markets/equities/25/03/44101132/tech-sector-hammered-as-trumps-tariff-plans-spark-market-selloff-nvidia-arm-super-micro-lead-tech-bloodbath">Trump&#8217;s tariff plans</a> and repudiation of <a href="https://www.benzinga.com/general/market-summary/25/03/44135177/trump-seeks-to-end-chips-act-who-stands-to-lose-heres-a-list-of-beneficiaries-that-could-be-affected">the CHIPS Act</a> may have scared off investors.



Before Trump&#8217;s second term, many market commentators saw the <a href="https://www.benzinga.com/top-stories/24/06/39365183/warning-flags-expert-says-nvidia-in-bubble-ish-territory-points-to-potential-market-pullback">Magnificent Seven&#8217;s valuations</a> as unsustainable in the long run. Even after the February and March sell-off, the companies&#8217; median price-to-earnings ratio is 35. Tesla is still trading more than 100 times over earnings.



Bettors on Polymarket <a href="https://x.com/Polymarket/status/1899154423764418622">peg</a> the odds of a recession in 2025 as 38%.



Also Read:



<ul>
<li><a href="https://www.benzinga.com/trading-ideas/25/03/44226602/walmart-ceo-says-consumers-changing-spending-due-to-inflation-egg-prices-the-money-runs-out-before-the-month-is-gone-people-are-buying-smaller-pack-sizes">Walmart CEO Says Consumers Changing Spending Due To Inflation, Egg Prices: &#8216;The Money Runs Out Before The Month Is Gone … People Are Buying Smaller Pack Sizes&#8217;</a></li>
</ul>



Photo: Gguy via Shutterstock



CORRECTION: The amount an investor would have left after an $100,000 is not $595,720.72.

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Magnificent 7 Sheds Over $750 Billion In Market Cap In One Day: Is Big Tech's Honeymoon Over? (CORRECTED)

Global geopolitical tensions reached a new high after the contentious February 28 <a href="https://www.benzinga.com/news/25/03/44064861/trump-cancels-news-conference-with-zelenskyy-after-tense-meet-in-oval-office-report">Oval Office meeting</a> between Ukrainian President Volodymyr Zelenskyy and US President Donald Trump.



A trend toward less US military support for Ukraine was evident for many investors long before that meeting, as European stocks soared in early 2025, especially those in the defense sector.&nbsp;



The DAX index in Germany rose to new all-time highs this year, for example, as Europe begins reshuffling policy plans in view of a reduction in U.S. military support. Germany has led the charge so far, announcing a 500 billion euro (about $535 billion) stimulus package aimed at bumping up defense and reinvigorating the country's stale economy.&nbsp;



<h2 class="wp-block-heading">Six European Defense Stocks Set To Keep The Rally Going</h2>



One aspect of the German stimulus package that seems to intrigue investors is the defense spending boost, which gets around the country's ‘debt brake' designed to limit government spending. The debt brake caps spending at a percentage of national GDP. The new agreement calls for all defense spending beyond 1% of German GDP to not be counted against this cap, which is music to the ears of European defense companies, whose stocks have been sizzling since late 2024.&nbsp;



It&#8217;s important to keep in mind that as foreign stocks, they trade using ADRs on OTC marketplaces. Be sure to understand the risks of buying international companies via OTC marketplaces before investing.



<h2 class="wp-block-heading">Rheinmetall AG </h2>



Rheinmetall AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RNMBY#OTC">RNMBY</a>) has been the face of the European defense rally so far. The stock has more than doubled in the last 12 months, including a 90% gain year-to-date (YTD). Rheinmetall is one of Germany's leading providers of military vehicles, weapons, ammunition and electronics for defense. The Dusseldorf-based company has existed since 1889 and employs more than 24,000 people.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcz_vG_KlxR1YFjEzC7CM5uirLdtpbjuTsj1DEa5dom-LiAvPzKDxxGg-QOEWA3cq3hC67yj-R92podeAkV2ykefZNcLkN1UI3IBZVO_wht8e15qkjdiyZYiIcR856Uojng01QU4g?key=bRH-zOh8yeo-luC60d2Cc_7K" alt=""/></figure>



Rheinmetall's stock trades on the DAX exchange in Germany but American investors can find it on the OTC markets trading as RNMBY. The company's valuation has gotten stretched during this recent rally, with a P/E ratio approaching 100 and a price-to-sales rate of 5.87. The company's forward P/E of 37.6 is in line with competitors like Saab and Rolls-Royce. It recently reported the USD equivalent of $955 million in free cash flow and 40% year-over-year (YoY) revenue growth. The stock ended Friday's session on a 6.5% drawdown as investors took profits amidst a choppy trading day. Some see this as an opportunity for a new entry as technical trends remain in place.&nbsp;



<h2 class="wp-block-heading">BAE Systems plc </h2>



BAE Systems (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAESY#OTC">BAESY</a>) had just completed its first ‘lost year' since COVID as 2024 drew to a close, but the recent rally has taken the British defense firm back to new all-time highs. BAE's stock closed at $57 on the final day of 2024 trading &#8211; a mere $1 above the price it opened on the first 2024 trading day. But 2025 has been a fresh start and the company is up nearly 45% YTD.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdNq-SXMbawg2AA0la6ht2uny1OZywnTvqRudwtgUdvTE2bqX8QO8tr1Ho-mF9F7hFXtAkqYsl68mDauucE_PDYWV6eX1pQ5lTv2MbXQIBZXwiFMTA-fxTD0eCYwu47s1hEdBXnAQ?key=bRH-zOh8yeo-luC60d2Cc_7K" alt=""/></figure>



Despite the parabolic move, BAESY remains an undervalued stock compared to peers like Rheinmetall and Saab. The stock trades at just 22 times forward earnings, 1.87 times sales and sits on a massive free cash pile equivalent to $3.5 billion. Profit growth accelerated in 2024 following a sluggish 2023. The company's 7.4% profit margin is one of the sector's best figures. It also pays a 2% dividend yield, tops amongst today&#8217;s picks.



The stock could get a boost from political tailwinds in 2025 as well. Like Germany, the UK is preparing for more accommodative fiscal policy to boost its economy, especially the defense sector.



<h2 class="wp-block-heading">Leonardo S.P.A. </h2>



Leonardo SPA (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FINMY#OTC">FINMY</a>) trades on the Italian stock exchange, and like other European defense firms, it started 2025 with a bang. Shares are up more than 72% so far this year, with possibly more room to run as the EU's fiscal plans come into focus.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeVnLhxuMB974uvA6X4FLkAq4Z3Xq4j7WWoeKicj2H3PT3zxbJ1n0hSiuP-aFMS7j6YWc_krkegiFes7ztcafUozkkyE5vPhBzTefPbOkQoLyACPMSlpFIyrNpyjAn7b0KCdbVYLg?key=bRH-zOh8yeo-luC60d2Cc_7K" alt=""/></figure>



Leonardo SpA has seven different business divisions, including Helicopters, Aeronautics, Electronics and Defense Systems. The firm is one of Italy's largest, with nearly 60,000 employees and a $27 billion market cap. The stock finished 2024 up more than 50% on the year, its share price has already gone from $13 to $23 in 2025.



Like BAE Systems, Leonardo remains undervalued compared to some of its more high-flying peers. Trading at 23 times forward earnings and just 1.4 times sales, the company has posted 21% YoY revenue growth. Shares pulled back on Friday, which could signify investors taking profits as the Relative Strength Index (RSI) veered into overbought territory. A minor correction could create an opportunity for new investors.



<h2 class="wp-block-heading">Thales S.A. </h2>



Thales S.A. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/THLEF#OTC">THLEF</a>) is a French aerospace company specializing in defense equipment, including combat systems, surveillance, training simulations, avionics equipment and more. With over $22 billion in annual revenue and more than 83,000 employees, Thales is one of the largest defense contractors in Europe. It has also been one of the best-performing stocks on the French CAC index, with a nearly 83% gain YTD.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXezuK4B9ff5pjf8XJDIkfIdzZsIOpy0sk5sinnM-gHVA4HBfwv3cT5UPmc0XuCHg2vfpn9TFelhQIv2STCxRUxNH_uOSk9Uzr6F7BqDiHEJqdhHi29TMDsQqQzP5w9-fAzxFVRUIg?key=bRH-zOh8yeo-luC60d2Cc_7K" alt=""/></figure>



The stock looks pricey at the moment with a P/E ratio over 50, but it trades at just 23 times forward earnings and has more than $2 billion in free cash flow. In its most recent report, the company stated YoY quarterly earnings growth of 7.4% and pays a 1.46% dividend yield, which is bested only by BAE Systems&#8217; 2% yield amongst our defense stock picks.



<h2 class="wp-block-heading">Rolls-Royce Holdings plc </h2>



When investors think of Rolls-Royce (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RYCEY#OTC">RYCEY</a>), they usually picture the car driven by their favorite athlete, but the company makes more than just high-performance sports cars. It operates in multiple divisions: Civil Aerospace, Defense, Power Systems and New Markets. Rolls-Royce is the largest stock by market cap on our list at $87 billion. The company earns more than $24 billion in annual revenue.&nbsp;



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdLlyU-1_uQUcX4tMiQoR16J13Q7MWEyfv43FSZCoOPnHcZZovjaMJhOYU5hE9BD3k9edK9s2LnvZr0lMzSdd5vpV2ySGgpN-KYKqtkL2idrO4jzja32wfc-yhOv_V_0dauMV75?key=bRH-zOh8yeo-luC60d2Cc_7K" alt=""/></figure>



Rolls Royce stock is up 51% this year, which lags behind other soaring European defense contractors, though that gap could soon be closed. The company's 13.3% profit margin dwarfs most competitors in the defense industry; the stock trades at 28 times earnings. It also has an impressive $3.74 billion in free cash flow ready for deployment, which is not a bad situation to find yourself in when the government is expanding fiscal policy.



<h3 class="wp-block-heading">And Before We Go&#8230; </h3>



<h2 class="wp-block-heading">Live On Wednesday: How To Trade This Week's Market Chaos</h2>



Markets are in turmoil—are you positioned and ready to react? Join Chris Capre on March 12 at 6 PM ET for a live session where he'll show you how to track institutional moves, execute precise trades and navigate wild price swings with confidence.&nbsp;Sign up right <a href="https://bzresearch.myclickfunnels.com/chris-capre-webinar-wed-mar12-2025-registration">HERE</a>



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6 Defense Stocks To Watch After Trump Halts Weapons Shipments To Ukraine

The U.S. and China are in early talks for a potential &#8220;birthday summit&#8221; between President Donald Trump and Chinese leader <a href="https://www.benzinga.com/topic/china">Xi Jinping in June</a>.



What Happened: <a href="https://www.wsj.com/world/china/u-s-china-discuss-a-trump-xi-summit-for-june-04610b8f?mod=hp_lead_pos2">According </a>to the Wall Street Journal, the discussions come as the Trump administration <a href="https://www.benzinga.com/topic/trump-tariffs">escalates tariffs and trade</a> measures against China, aiming to gain leverage in negotiations.



The summit, timed around the leaders&#8217; June birthdays—Trump on June 14, 1946, and Xi on June 15, 1953—could introduce goodwill amid trade tensions that have rattled global markets. Both leaders have shown interest in a summit since Trump's November election victory, though no firm plans have been made.



Beijing is reportedly keen to negotiate, hoping a summit might slow additional U.S. tariffs and technology restrictions. China's recent export data fell below expectations, and the country faces deflation. The Trump administration recently raised tariffs on Chinese imports to around 35%, citing China's role in the U.S. fentanyl crisis, WSJ reports.



See Also: <a href="https://www.benzinga.com/25/03/44217379/china-hits-soybeans-with-tariffs-its-largest-us-import-along-with-other-agri-products-here-a-list-of-stocks-and-etfs-that-could-be-impacted">China Hits Its Largest US Import, Soybeans, With Tariffs Along With Other Agricultural Products: Here&#8217;s A List Of Stocks, ETFs That Could Be Impacted</a>



Why It Matters: Geo-political relations between the U.S. and China haven&#8217;t improved since Trump won the 2024 presidential election.



Former President Joe Biden met President Xi once in the days following Trump&#8217;s election victory—in <a href="https://china.usembassy-china.org.cn/readout-of-president-joe-bidens-meeting-with-president-xi-jinping-of-the-peoples-republic-of-china-3/">Lima, Peru</a>. Before that, they convened in 2023 to discuss the global economy, supply chain disruptions, and rising protectionism as "grave problems."



"China and United States turning back on each other is not an option," Xi said <a href="https://www.benzinga.com/markets/asia/23/11/35814525/historic-biden-xi-jinping-meeting-paves-way-for-joint-efforts-in-ai-climate-change">at the time</a>.



But once Trump was sworn into office in January, imposing tariffs on all Chinese imports was a top priority. As recently as March 4, the Trump White House doubled the levy on Chinese imports to 20%. 



China clapped back with its own retaliatory tariffs, per the Associated Press, <a href="https://apnews.com/article/china-us-tariffs-farm-soy-trump-7442b02ac829347f0d4fc6ad0955d368">last week</a>. 



At a news conference during China&#8217;s annual parliamentary session on Friday, March 7, China&#8217;s top foreign policy official, Wang Yi, positioned Beijing as a stabilizing global force while criticizing the U.S. as &#8220;<a href="https://www.npr.org/2025/03/07/nx-s1-5320802/china-us-tariffs-gaza-ukraine-russia-trump">two-faced</a>.&#8221; 



Wang emphasized China&#8217;s role as a global &#8220;anchor&#8221; as opposed to the U.S.



The potential summit marks a critical moment in U.S.-China relations, as both sides navigate economic, technological, and strategic rivalries.



ETFs To Watch: Notable exchange-traded funds to watch include the iShares MSCI China ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHI#NASDAQ">MCHI</a>), which allocates the biggest chunk of its holdings to Shenzhen, China-based Tencent Holdings Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>).



There&#8217;s also SPDR S&amp;P China ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GXC#NYSE">GXC</a>) and Invesco China Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CQQQ#NYSE">CQQQ</a>), which are both particularly sensitive to geopolitical developments. 



Now Read:



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<li><a href="https://www.benzinga.com/media/25/03/44214424/move-over-deepseek-not-so-fast-chinas-manus-ai-goes-viral-but-early-users-say-it-crashes-loops-and-fumbles-the-basics">Move Over DeepSeek? Not So Fast: China&#8217;s Manus AI Goes Viral, But Early Users Say It Crashes, Loops, And Fumbles The Basics</a></li>
</ul>



Image created using photos from Shutterstock.

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Politics

Global

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MCHI

TCEHY

Trump, Xi Discuss Potential 'Birthday Summit' Amid Rising Trade Tensions: Report

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock is sliding Monday with the overall stock market amid concerns for the company's deliveries and continued protests against CEO Elon Musk<a href="https://www.benzinga.com/news/global/25/03/44128646/tesla-sales-drop-in-europe-in-february-some-countries-down-over-40-is-musks-political-push-hurting-ev-company"> and the company.</a>



A Swedish hedge funder thinks it&#8217;s a matter of when, not if, Tesla shares will go lower in the future.



What Happened: Tesla has been one of the<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44143606/tesla-stock-nears-50-drop-from-all-time-highs-analyst-says-difficult-fundamental-conditions-ahead"> most volatile stocks</a> since President Donald Trump won the 2024 election with a sharp rise after his victory before crashing in early 2025.



Swedish billionaire and hedge fund manager Christer Gardell thinks Tesla stock could decline even further in the coming months.



"Tesla, especially now with the whole Musk circus going on everywhere, is probably the most expensive stock on the global stock exchanges right now. It could go down 95% — and maybe it should go down 95%," Gardell said in an interview with <a href="https://www.youtube.com/watch?v=Lf43VNxgcRg&amp;t=3s">EFN</a>.



In the interview, Gardell said Tesla is a car company and the market is assigning a premium valuation due to energy, AI and robotics, as reported by <a href="https://www.teslarati.com/tesla-95-percent-crash-risk-billionaire-hedge-fund-manager/">Teslarati</a>.



Gardell said Tesla is in an "eternal bubble" that could pop.



"I have commented that it should have burst over the past five years, but it still hasn't. The valuation is incomprehensible."



The hedge funder said when the crash comes, Tesla stock could fall dramatically and quickly.



"It's always hard to say when. It could happen in a month, six months, a year, three years, or five years – it's impossible to answer."



While Gardell focused on the overvaluation of Tesla stock, he said the U.S. stock market remains overpriced while Europe is offering value.



"American stocks have received very large flows recently. If you look at the American stock market, it is very expensive, both from a purely absolute perspective and from a historical perspective."



Gardell said European stocks trade at a discount of 40% to American stocks, compared to a normal discount of 20%.



Read Also: <a href="https://www.benzinga.com/trading-ideas/25/03/44173217/teachers-union-concerned-about-tesla-stock-valuation-is-elon-musk-to-blame">Teachers Union Concerned About Tesla Stock Valuation: Is Elon Musk To Blame?</a>



Why It's Important: Musk's push into politics is creating more volatility for Tesla stock and leading to sales declines worldwide and protests at Tesla locations.



These events combined are seeing analysts and Tesla experts lower their delivery estimates for the first quarter.



In a<a href="https://www.benzinga.com/news/global/25/01/43172806/tesla-lost-15-billion-in-brand-value-in-2024-report-says-did-elon-musks-political-push-hurt-ev-giant"> Brand Finance survey</a>, Tesla fell to 36th place with a brand value of $43 billion. This was a drop from 18th place in 2024 and a value of $58.27 billion.



This marked the second straight year Tesla&#8217;s brand value fell in the annual rankings, as&nbsp;<a href="https://www.cnbc.com/2025/01/21/tesla-lost-15-billion-in-brand-value-in-2024-brand-finance-found.html" target="_blank" rel="noreferrer noopener">reported&nbsp;</a>by CNBC. Reasons for the fall could be related to a lack of new vehicles from Tesla and Musk&#8217;s &#8220;antagonism,&#8221; the report said.



Tesla's scores in categories such as &#8220;reputation,&#8221; &#8220;recommendation&#8221; and &#8220;consideration&#8221; all fell from the prior year.



Price Action: Tesla stock dropped 15.4% to $222.15 on Monday versus a 52-week trading range of $138.80 to $488.54. Tesla stock is down 41.4% year-to-date in 2025 and up 25% over the last year.



Tesla stock is now trading below where it was when Trump won the 2024 election. Tesla stock closed at $251.44 on Nov. 5 and opened for trading at $284.67 on Nov. 6 after <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">Trump's victory was confirmed</a>.



The stock is down over 50% from all-time highs set in December.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/03/44176616/trump-vs-musk-tesla-to-be-hurt-by-tariffs-on-mexico-despite-friendship">Trump Vs. Musk: Tesla To Be Hurt By Tariffs On Mexico Despite Friendship</a></li>
</ul>



Image: Shutterstock

Tesla Bloodbath To Continue? Hedge Funder Says 'Musk Circus' Could Lead To Stock Dropping 95%

Editor's Note: This article has been updated to include historical price action.



Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares are plunging Monday. The stock has been under pressure <a href="https://www.benzinga.com/25/03/44072164/tesla-rival-byd-more-than-doubles-passenger-vehicle-sales-in-february-thriples-production">amid rising competition</a> from Chinese electric vehicle (EV) manufacturers, declining demand in Europe and protests at Tesla facilities.



What To Know: Tesla shares are coming off their seventh straight week of declines, marking the EV maker&#8217;s longest losing streak since going public in 2010, according to <a href="https://www.cnbc.com/2025/03/10/tesla-shares-plunge-14percent-head-for-worst-day-in-five-years.html">CNBC</a>. The stock is making headlines again on Monday with shares on track for their worst day since September 2020.



Tesla has faced increasing competition from BYD, one of its largest Chinese rivals, which recently reported a 127.5% jump in pure passenger EV sales to 124,902 units in February compared to the same month last year.



Tesla reported delivering 495,570 battery EVs in the final quarter of 2024, falling short of BYD's 595,413 battery EVs sold during the same period.



In Europe, the company&#8217;s sales dropped by about 45% for the month of January, according to <a href="https://www.bloomberg.com/news/articles/2025-02-25/tesla-sales-fall-45-in-europe-as-rivals-ev-registrations-soar?embedded-checkout=true">Bloomberg</a>. The American EV producer maintained its position as the world's largest battery EV seller for most of 2024, until the final quarter.



Tesla has also seen an increase in protests and incidents of violence at its facilities, linked to CEO Elon Musk&#8216;s involvement with the Trump administration, according to <a href="https://www.cbsnews.com/news/tesla-violence-protest-elon-musk/">CBS</a>. Musk is the head of the Department of Government Efficiency which has cut thousands of jobs since it began operating.



See Also: <a href="https://www.benzinga.com/25/03/44226717/why-beacon-roofing-supply-shares-are-seeing-blue-skies-on-monday">Why Is Beacon Roofing Supply Stock Surging Today?</a>



TSLA Price Action: Tesla shares closed Monday down 15.4% at $222.15, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro.</a>



Image: via Shutterstock

Tesla Stock Suffers Worst Day In 5 Years After 7 Consecutive Weeks Of Declines (UPDATED)

Canada is expected to have a new prime minister with former central banker Mark Carney winning the country's Liberal Party election to replace outgoing Prime Minster Justin Trudeau, who announced his intention to <a href="https://www.benzinga.com/25/01/42823979/canadas-pm-justin-trudeau-steps-down-amid-internal-conflict-and-tension-over-trump-tariffs">step down in January.</a>



Carney has had a fast rise in Canadian politics but also enters the key leadership role without ever holding office.



Here are five facts about Carney.



1. Never Held Office: Carney becomes the Liberal Party's leader and the <a href="https://www.benzinga.com/25/03/44212152/mark-carney-takes-justin-trudeaus-job-as-canadas-new-pm-ready-to-face-trumps-tariff-threats-i-know-how-to-manage-crises">next Canadian prime minister </a>without holding public office before. The former central banker enters the key leadership role with vast experience in finance, a position that may have helped him win the election.



In an acceptance speech, Carney focused heavily on U.S. President Donald Trump, tariffs and a potential trade war between the two North American countries.



"My government will keep the tariffs on until the Americans show respect," Carney said. "In the meantime, we will make sure all the proceeds — all the proceeds from our tariffs — will be used to protect our workers." &nbsp;



While the U.S. has paused tariffs on Canada, several retaliatory tariffs put into place by Canada are currently in effect.



Carney also publicly criticized Trump's call to annex Canada and make the border country a state.



"Canada will never ever be part of America, in any way, shape, or form."



Carney has also previously <a href="https://nypost.com/2025/03/08/world-news/mark-carney-frontrunner-to-replace-trudeau-as-canadas-pm/">compared </a>Trump to Harry Potter villain Voldemort.



"When you think about what's at stake in these ridiculous, insulting comments of the president, of what we could be, I view this as the sort of Voldemort of comments," Carney said.



Before entering politics, Carney <a href="https://www.thecrimson.com/article/2025/3/10/carney-canada-prime-minister/">was </a>the governor of the Bank of Canada (2008 to 2013) and the Bank of England (2013-2020). During his time leading monetary policy, Carney was praised for his handling of the 2008 financial crisis, the U.K.'s exit from the European Union and the country's response to the COVID-19 pandemic. Carney was famously the first non-British person to be governor of the Bank of England.



Along with his roles leading the national banks, Carney also spent 13 years at Goldman Sachs Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>).



Read Also: <a href="https://www.benzinga.com/news/25/03/44213871/canadas-next-pm-mark-carney-vows-to-win-trade-war-with-trump-says-americans-should-make-no-mistake">Canada&#8217;s Next PM Mark Carney Vows To Win Trade War With Trump: &#8216;Americans Should Make No Mistake&#8217;</a>



2. College Goalie: Carney becomes the first graduate of Harvard College to become the Prime Minister of Canada with two others in the role having received past master's degrees from the prestigious American university.



While at Harvard from 1984 to 1988, Carney was a member of the university's hockey team where he was a goalie.



"He was the best backup goalie Harvard ever had," fellow Harvard student and Silver Lake co-founder Glenn Hutchins once said of Carney.



Carney also played goalie while at Oxford working on his doctorate, where he was a co-captain of the hockey team.



3. Bitcoin Stance: Fans of cryptocurrency and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in Canada may not want to hear about Carney's past comments on the sector.



While Trump has ushered in a new cryptocurrency era in the U.S. with a pro-crypto agenda and plans for a <a href="https://www.benzinga.com/25/03/44183572/trump-establishes-strategic-bitcoin-reserve-funded-by-forfeited-assets-i-made-the-promise">Bitcoin strategic reserve,</a> Carney might have to make a similar reversal of course to please Bitcoin fans.



Carney previously criticized Bitcoin for having "serious deficiencies" and said having a Bitcoin standard "would be a criminal act of monetary amnesia," as reported by <a href="https://cointelegraph.com/news/canadas-new-prime-minister-mark-carney-bitcoin-critic">CoinTelegraph</a>.



The Canadian's criticism of Bitcoin dates back to at least 2018 according to the report.



"The fixed supply of Bitcoin has fed a global speculative mania that has encouraged a proliferation of new cryptocurrencies," Carney previously said.



Carney has spoken positively of CBDCs previously and said Bitcoin has proven to be "poor short-term stores of value."



4. Board of Directors Roles: Along with roles at Goldman Sachs and the national banks getting Carney ready for his role as prime minister, the well-known banker also served on several notable boards.



With his push into politics, Carney has <a href="https://www.pionline.com/money-management/bank-canadas-mark-carney-resigns-asset-manager-boards-brookfield-pimco-he-enters">stepped </a>down from many of his board roles. Carney previously served on the board of directors of Brookfield Asset Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>), a unit of Brookfield Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BN#NYSE">BN</a>).



Carney also resigned from his role on the global advisory board of Pacific Investment Management Co, also known as PIMCO. Carney previously served on the board of directors of Bloomberg L.P. and<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44081480/stripes-payment-surge-puts-adyen-paypal-fiserv-on-notice-ai-stablecoins-fuel-the-race"> fintech unicorn </a>Stripe, which was valued at $91.5 billion last month.



"I am no longer a senior executive at Brookfield, I am no longer a senior executive at Bloomberg, I am no longer on the board of Stripe, I am no longer on the board of PIMCO," Carney said in an announcement ahead of his prime minister run.



Carney said the board roles and his banking experience will serve Canada well.



"What I'm bringing from those (experiences) is to help Canada through the immediate crisis, but really to build the strongest economy in the G7."



<a href="https://nypost.com/2025/03/08/world-news/mark-carney-frontrunner-to-replace-trudeau-as-canadas-pm/"> </a>5. Sports Fan/House Divided: A former hockey player, Carney is a <a href="https://www.telegraph.co.uk/finance/economics/9866686/Mark-Carney-is-an-Everton-fan...-but-his-wife-supports-Arsenal.html">fan </a>of the sport and the Edmonton Oilers are his favorite NHL team. Carney is also a fan of the Canadian Football League team Edmonton Eskimos.



Carney is also a fan of soccer and roots for Everton in the English Premier League, with distant relatives living in the Liverpool area. Carney's wife Diana roots for Arsenal as her favorite soccer team, an Everton rival in the English Premier League. Diana, like Carney, also played hockey in college for the Oxford team.



The Canadian has also used the recent victory by Canada over the U.S. in the 4 Nations hockey tournament as a rallying cry.



"Canada will not bow down to a bully. In the trade war — just like in hockey — we will win," Carney said.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/03/44119668/trump-tariffs-could-make-your-next-car-12000-more-expensive-expert-says-25-fees-will-have-a-sharp-negative-effect-on-auto-sales">Trump Tariffs Could Make Your Next Car $12,000 More Expensive: Expert Says 25% Fees Will &#8216;Have A Sharp Negative Effect On Auto Sales&#8217;</a></li>
</ul>



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Entertainment

5 Facts About Canadian Prime Minister Mark Carney: From Bitcoin To Hockey

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has fallen below $79,000 on Monday, raising concerns among analysts who believe the downturn may not be over.



With XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and other altcoins also under pressure, experts suggest that market expectations have been reset, and further corrections <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44227857/bitcoins-drops-below-80000-correction-or-buying-opportunity">remain a possibility</a>.



What Happened: Bitcoin is currently trading at $78,650, down 4.5% in the past 24 hours, while Ethereum has dropped 4.7% to $1,925.



Among major altcoins, XRP and BNB (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>) have declined 2% each, Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) has fallen 6%, and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) is down 5%.



The crypto market has seen $637.35 million in liquidations over the past day, with long positions accounting for $460.19 million, according to <a href="https://www.coinglass.com/LiquidationData">data</a> from Coinglass.



The decline follows Bitcoin's peak at $109,000 in January, marking a nearly 25% drop that has erased most of its previous gains. 



What Experts Are Saying: According to James Toledano, Chief Operating Officer of Unity Wallet, the pullback is largely due to unrealistic expectations surrounding the strategic Bitcoin reserve.



"The biggest letdown has been the U.S. Bitcoin Strategic Reserve, which turned out to be nothing more than a repackaging of seized FBI assets—around 200,000 BTC, just 1% of Bitcoin's market cap—placed under the control of the Federal Reserve," Toledano told Benzinga.



Macroeconomic factors are also weighing on the market. 



Rising inflation, shifting Federal Reserve policy expectations, and the recent U.S. tariff policy have prompted institutional investors to reduce exposure to risk assets. 



Toledano noted that the U.S. economy has contracted by 2.5% following tariff implementation, adding to concerns of an economic slowdown.



Despite the current downturn, some analysts argue that crypto remains in a long-term growth phase. 



Speaking with Benzinga, Marcin Kazmierczak, Co-founder and COO of RedStone, said he believes institutional interest remains strong but acknowledges that regulatory changes take time to impact prices.



"Fundamentals for crypto are strong: incoming U.S. reserves, new applications in DeFi, both stablecoins and RWAs are at all-time highs," Kazmierczak said. "Legislation and the Strategic Bitcoin Reserve need time to be properly implemented and reflected in the market."



The lack of immediate clarity from the White House Crypto Summit has also contributed to market hesitation.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44221339/why-did-trumps-strategic-crypto-reserve-not-include-xrp">Why Did Trump&#8217;s Strategic Crypto Reserve Not Include XRP?</a>



Feng He, CEO of Deeplink, told Benzinga that traders were expecting the event to provide a positive catalyst, but instead, uncertainty has persisted.



"The ambiguity stemming from the White House Crypto Summit has undercut market momentum, and traders were hoping this would be a catalyst for positive price action," Feng said. "While it's difficult to predict the exact bottom, I&#8217;m sure many BTC maxis will seize the opportunity to buy BTC under $80,000, but further corrections could occur if investor sentiment weakens."



While some investors are buying the dip, experts warn that Bitcoin's price could see further downside if macroeconomic concerns persist. 



The absence of strong buying pressure following the Strategic Bitcoin Reserve announcement suggests that investors remain cautious. 



Feng He believes any potential rebound will be slow to develop.



"While the Strategic Bitcoin Reserve has received mixed reviews, any positive price impact will likely materialize gradually over the coming months as opposed to an immediate return to the $100,000 level for BTC," he said.



What&#8217;s Next: With Bitcoin struggling to find support and altcoins facing selling pressure, analysts are watching for signs of stabilization. Until economic conditions improve or regulatory clarity is established, further volatility remains likely.



Aurelie Barthere, Principal Research Analyst at Nansen told Benzinga that alts have broken key supports, and it is hard to estimate the next-level and that this is a macro correction.



&#8220;Next level will be $71,000 to $72,000, top of the pre-election trading range. We are still in a correction within a bull market: stocks and crypto have realized and are pricing; a period of tariff uncertainty and fiscal cuts, no Fed put. Recession fears are popping up,&#8221; Barthere said.



She stressed that there is no hint of a recession yet and that relief could come by April after the implementation of the next round of tariffs.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44220378/strategy-files-for-21b-in-preferred-stock-to-fund-bitcoin-acquisition">Strategy Files For $21B In Preferred Stock To Fund Bitcoin Acquisition</a></li>
</ul>



Image: Shutterstock

$BNB

$SOL

$XRP

Bitcoin Plunges Below $79,000: Why Are BTC, ETH, XRP Going Down?

Stocks extended last week's losses on Monday as concerns over the U.S. economy continue to weigh on the market. The Nasdaq 100 saw the steepest declines, with Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Palantir Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) leading tech companies lower. The S&amp;P 500 and Dow Jones were also firmly r<a href="https://www.benzinga.com/25/03/44222440/financial-crime-weekly">ed in midday trading.&nbsp;</a>



President Donald Trump seemed to acknowledge the possibility of a U.S. recession in an interview with Fox News on Sunday when he referred to the current economic situation as a "period of transition"&nbsp;further fueling economic concerns. 



Read Next: <a href="https://www.benzinga.com/news/econ-s/25/03/44143666/us-services-sector-unexpectedly-expands-in-february-despite-slowing-job-growth">US Services Sector Unexpectedly Expands In February Despite Slowing Job Growth</a>



Last week, Fed Chair Jerome Powell acknowledged the current economic uncertainty and investors look to this week's Consumer Price Index and Producer Price Index data, ahead of next week's Federal Open Market Committee meeting. February's jobs report released last week signaled a softening labor market and the ISM Manufacturing PMI showed firms are already experiencing disruptions from the Trump administration's tariff policies.



The yield on U.S. 10-year Treasury note fell to 4.23% on Monday amid economic uncertainty and the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rose 1.33%.&nbsp;



U.S. natural gas futures rose as high as $4.60 MMBtu driven by extremely cold weather across North America and Europe, supply constraints and record LNG exports. The United States Natural Gas Fund LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNG#NYSE">UNG</a>) was up 3.21% midday.&nbsp;



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) traded below the $80,000 level, down nearly 17% for the month.&nbsp;



<h1 class="wp-block-heading">Monday&#8217;s Performance In Major U.S. Indices, ETFs</h1>



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Major Indices</td><td>Price</td><td>1 day % chg.</td></tr><tr><td>Nasdaq 100</td><td>17,571.14</td><td>-3.34%</td></tr><tr><td>S&amp;P 500</td><td>5,649.85</td><td>-2.09%</td></tr><tr><td>Dow Jones</td><td>42,321.75</td><td>-1.12%</td></tr><tr><td>Russell 2000</td><td>2,042.10</td><td>-1.60%</td></tr></tbody></table></figure>



According to Benzinga Pro data:



<ul>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 2.22% to $563.13.</li>



<li>The SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) was down 1.24% at $422.96.</li>



<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) dropped 3.33% to $475.43.</li>



<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) slipped 1.56% to $202.74.</li>



<li>The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) fell 2.62% to $200.28.</li>



<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)&nbsp;rose 0.77% to $88.08.</li>
</ul>



<h1 class="wp-block-heading">Monday's Stock Movers&nbsp;</h1>



Shares of Redfin, Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDFN#NASDAQ">RDFN</a>) soared after Rocket Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>) announced it would acquire <a href="https://www.benzinga.com/news/25/03/44218758/rocket-wants-1-75-billion-redfin-deal-to-change-how-america-buys-homes">the company</a> in a $1.75 billion all-stock transaction. &nbsp;<a href="https://www.benzinga.com/quote/avgo" target="_blank" rel="noreferrer noopener"></a>



Stocks reacting to company earnings reports included:&nbsp;



<ul>
<li>Aligos Therapeutics, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGS#NASDAQ">ALGS</a>)</li>



<li>Fennec Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FENC#NASDAQ">FENC</a>)</li>



<li>BioNTech SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>)&nbsp;</li>



<li>Telos Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLS#NASDAQ">TLS</a>)</li>



<li>Rand Capital Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAND#NASDAQ">RAND</a>)</li>



<li>NET Power Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NPWR#NYSE">NPWR</a>)</li>
</ul>



Companies reporting on after the bell include:



<ul>
<li>Oracle Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>)</li>



<li>Vail Resorts, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTN#NYSE">MTN</a>)</li>



<li>Asana, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASAN#NYSE">ASAN</a>)</li>



<li>LifeMD, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LFMD#NASDAQ">LFMD</a>)</li>



<li>Grupo Supervielle S.A.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUPV#NYSE">SUPV</a>)</li>



<li>Hesai Group&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSAI#NASDAQ">HSAI</a>)</li>



<li>Redwire Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDW#NYSE">RDW</a>)</li>
</ul>



Read Next:<a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying" target="_blank" rel="noreferrer noopener">&nbsp;</a>



<ul>
<li><a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying" target="_blank" rel="noreferrer noopener">Markets Tank After Trump Confirms More Tariffs: Here&#8217;s What Wall Street Is Saying</a></li>
</ul>



Photo: Shutterstock

Earnings

Market Summary

Commodities

Economics

Federal Reserve

General

ALGS

ASAN

BNTX

FENC

HSAI

LFMD

NPWR

ORCL

RAND

RDFN

SUPV

Nasdaq, S&P 500 Hit 6-Month Lows As Recession Fears Grow: What's Driving Markets Monday?

On Monday, Elon Musk-owned X (<a target="_blank" href="https://www.benzinga.com/topic/x" rel="noreferrer noopener">formerly Twitter</a>) faced a major service disruption.



According to Downdetector, the number of outage reports exceeded 41,000. Major complaints (58%) were related to the app, 31% to the website, and 11% to the server connection.



Also Read: <a target="_blank" href="https://www.benzinga.com/25/01/43204045/elon-musk-says-x-user-growth-is-stagnant-banks-who-financed-acquisition-selling-debt-at-10-discount" rel="noreferrer noopener">Elon Musk Says X &#8216;User Growth Is Stagnant&#8217; As Banks Set To Offload Acquisition Debt At 10% Discount</a>



X users in the U.K. also reported the outage earlier in the day, Reuters cites from the website.



In a <a target="_blank" href="https://x.com/elonmusk/status/1899149509407473825" rel="noreferrer noopener">post on X</a>, Musk claimed there was a massive cyberattack against X. He acknowledged getting attacked daily, but this was done with many resources, either a large, coordinated group and/or a country.



Musk had acquired X for <a target="_blank" href="https://www.benzinga.com/news/24/10/41142828/elon-musk-bought-x-for-44b-now-fidelity-values-social-media-network-below-10b" rel="noreferrer noopener">$44 billion in 2022</a>. <a target="_blank" href="https://www.bloomberg.com/news/articles/2025-02-19/musk-s-x-is-in-talks-to-raise-money-at-a-44-billion-valuation?embedded-checkout=true" rel="noreferrer noopener">According to Bloomberg</a>, X is in talks to raise new funding that would value the platform at $44 billion—the same amount Musk paid for it in 2022.



The report added that the discussions are ongoing, and the final terms could change.&nbsp;



Also Read:



<ul>
<li><a href="https://www.benzinga.com/25/02/43930916/elon-musks-x-eyes-44-billion-comeback-amid-trumps-victory-a-major-turnaround-after-losing-72-of-its-value" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s X Eyes $44 Billion Comeback Amid Trump&#8217;s Victory – &#8216;A Major Turnaround&#8217; After Losing 72% of Its Value</a></li>
</ul>



Image via Shutterstock

Media

Elon Musk's X Faces Major Outage, He Blames Cyberattack

Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) drop below $80,000 has traders questioning whether this is a healthy correction or a <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/44048486/bitcoins-24-correction-mostly-technical-say-experts">prime buying opportunity</a>.



What Happened: In a detailed X <a href="https://x.com/StockmoneyL/status/1899052074978939307">post</a> on Monday, crypto trader Stockmoney Lizards posited that traders are rushing to buy the dip, but technical analysis suggests Bitcoin's pullback may not be over yet. 



While long-term fundamentals remain strong, history and current price action indicate further downside is possible before the next leg up. The trader flagged several relevant technical indicators:



200-Day Simple Moving Average History:



<ul>
<li>Previous corrections (2023 &amp; 2024) saw Bitcoin trade below the 200-day SMA for weeks.</li>



<li>This pattern seems to be repeating in 2025.</li>
</ul>



Liquidity Support Zones:



<ul>
<li>2023 correction found support at ~$25,000, 2024 at ~$50,000.</li>



<li>Current cycle suggests support in the $72,000–$74,000 range.</li>
</ul>



Short-Term Breakdown:



<ul>
<li>Bitcoin broke below its uptrend after two retests.</li>



<li>A bearish retest signals potential further downside.</li>



<li>Many traders still hold unrealized gains from the $70,000 to $108,000 move, suggesting more selling pressure.</li>
</ul>



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44218404/raoul-pal-sees-bitcoin-solana-in-healing-stage-predicts-market-recovery-in-q2">Raoul Pal Sees Bitcoin, Solana In &#8216;Healing Stage&#8217;, Predicts Market Recovery In Q2</a>



What's Next: Stockmoney Lizards predicts for the short term, more downside is expected. 



For the longer term, the trader reaffirms his $200,000 target by year-end, telling his followers to hold on to their positions, as he sees the market in a &#8220;healthy consolidation.&#8221;



Crypto trader Javon Marks <a href="https://twitter.com/JavonTM1/status/1899106809450791310">noted</a> that Bitcoin is following a similar hidden bullish divergence that in the past triggered an approximate 90% rally. 



This could potentially mark that the market could be gearing up for another strong bullish move.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/03/44214520/successful-bitcoin-short-trader-places-take-profit-levels-between-70000-74000further-drop-incoming">Successful Bitcoin Short Trader Places Take Profit Levels Between $70,000-$74,000: Further Drop Incoming?</a></li>
</ul>



Image: Shutterstock

Bitcoin's Drops Below $80,000: Correction Or Buying Opportunity?

A leading retailer executive is sending warning signs on consumer spending in the wake of higher egg prices, tariffs <a href="https://www.benzinga.com/news/25/02/43667632/inflation-rises-in-january-housing-costs-up-adding-to-consumers-2025-concerns">and higher inflation.</a>



What Happened: Weeks after Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) reported <a href="https://www.benzinga.com/news/earnings/25/02/43846469/walmart-q4-earnings-shine-but-soft-fy26-outlook-disappoints-street">fourth-quarter financial results,</a> the company's CEO is sending warnings about macroeconomic concerns.



Walmart CEO Doug McMillon said budget-conscious consumers are changing their spending habits as food prices stay high.



"You can see that the money runs out before the month is gone, you can see that people are buying smaller pack sizes at the end of the month," McMillon said at the Economic Club of Chicago recently, as <a href="https://www.bostonherald.com/2025/03/01/walmart-ceo-warns-food-prices-are-causing-frustration-and-pain/">reported </a>by the Boston Herald.



McMillon said American consumers are looking for value when making their purchases.



While some items have come down in price, McMillon said food prices on items, including eggs remain elevated and are leading to consumers changing their spending habits.



"There are lots of income levels in this country — if you're at the lower end of that scale, you are feeling more frustration and pain because of higher food prices. They've persisted for years now, and you're just tired of it."



Read Also: <a href="https://www.benzinga.com/trading-ideas/25/03/44113335/amazon-vs-walmart-48-see-one-leader-in-2025-others-expect-a-tie">Amazon Vs. Walmart: 48% See One Leader In 2025, Others Expect A Tie</a>



Why It's Important: McMillon's comments come after Walmart's guidance <a href="https://www.benzinga.com/news/earnings/25/02/43869433/walmart-expects-slower-growth-in-an-uncertain-time-cfo-says-on-earnings-call">signaled uncertainty over </a>macroeconomic conditions.



Walmart CFO John David Rainey said a higher level of uncertainty led to the company's cautious guidance.



"We have to acknowledge that we are in an uncertain time. And we don't want to get out over our skis here. There's a lot of the year to play out," Rainey said.



Rainey said tariffs create more uncertainty with food prices already high. The CFO said the retailer will work hard to "keep prices low."



"We are not immune to what is being suggested, but we'll work with suppliers."



Rainey said egg prices were a bit of an anomaly and could work itself out over time.



The comments also come after January inflation jumped the most since August 2023, with the rising price in the cost of eggs one of the contributing factors.



Other retailers facing high inflation and changing consumer spending have shared comments on Trump's tariff plans in recent months, including Dollar Tree Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) CEO Mike Creedon.



Creedon <a href="https://www.benzinga.com/news/global/24/12/42402629/trump-to-change-dollar-stores-for-good-dollar-tree-exec-says-prepared-to-act">said the retailer</a> could increase prices or change its product assortment due to Trump's tariffs. The CEO highlighted potential changes to pack sizes as one way to fight off tariffs.



"We believe there is a wide range of potential actions that we can take to help mitigate additional tariffs if and when they materialize," Creedon previously said.



Based on comments from Walmart and Dollar Tree, consumers are already buying smaller pack sizes in some cases with high food costs at stores and inflation still a major concern. With smaller pack sizes already being bought and consumers running out of money by month&#8217;s end, tariffs that could see prices rise could be a large concern for consumers.



WMT Price Action: Walmart stock is down 3.47% to $88.50 on Monday versus a 52-week trading range of $58.56 to $105.30. Walmart stock is down 1.6% year-to-date in 2025 and up 46% over the last year.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/news/earnings/earnings-beats/25/02/43888731/walmart-posts-q4-beat-shares-tank-disappointing-guidance-analysts-highlight-one-time-items">Walmart Posts Q4 Beat, Shares Tank On Disappointing Guidance: Analysts Highlight One-Time Items</a></li>
</ul>



Photo: Shutterstock

DLTR

Walmart CEO Says Consumers Changing Spending Due To Inflation, Egg Prices: 'The Money Runs Out Before The Month Is Gone … People Are Buying Smaller Pack Sizes'

President Donald Trump tiptoed around questions of a looming recession during a Fox News interview on Sunday. He once again dodged the question from reporters while onboard Air Force One, but denied the possibility of <a href="https://www.benzinga.com/news/econ-s/25/03/44205662/president-trump-wants-to-replace-income-tax-with-tariffs-national-economic-council-director-kevin-hassett-says">an economic downturn. </a>



What To Know: Trump seemed to acknowledge the possibility of a recession in 2025, citing a &#8220;period of transition&#8221; as his administration implements significant changes to the economy, including tariffs and federal workforce reductions. 



When asked about a possible recession during an interview on Fox News&#8217; "Sunday Morning Futures," Trump stated, &#8220;I hate to predict things like that.&#8221;&nbsp;



Read Next:<a href="https://www.benzinga.com/general/market-summary/25/03/44194357/markets-breathe-sigh-of-relief-as-february-jobs-data-shows-economy-not-falling-off-a-cliff-economist-says"> Markets Breathe &#8216;Sigh Of Relief&#8217; As February Jobs Data Shows Economy &#8216;Not Falling Off A Cliff,&#8217; Economist Says</a>



Instead, he emphasized that his policies aim to bring wealth back to America and may require time for their benefits to materialize.&nbsp;



Later on Sunday, reporters asked the president again about a potential recession ahead. Trump responded by touting his trade policies but did not address the question directly.  



&#8220;All I know is this — we&#8217;re going to take in hundreds of billions of dollars in tariffs and we&#8217;re going to become so rich you&#8217;re not going to know where to spend all that money. I&#8217;m telling you, you just watch,&#8221; the President said. 



Why It Matters: According to the Economic Policy Institute, Trump <a href="https://www.epi.org/blog/president-elect-trump-is-inheriting-a-historically-strong-economy/">inherited</a> a healthy economy from his predecessor, President Joe Biden. 



Job growth in December was &#8220;<a href="https://www.epi.org/blog/the-labor-market-sticks-the-landing-job-growth-averaged-186000-in-2024/">extremely rapid</a>,&#8221; the nonpartisan nonprofit reported. Trends indicated that wage growth remained above inflation, which was nearing a return to 2% — the Federal Reserve's preferred target.



Since Trump took office on Jan. 20, there have been growing concerns over economic turbulence and unsettled markets following tariffs and an escalating trade war. 



Last week, the S&amp;P 500, tracked by the SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), saw its worst weekly performance since September and the Nasdaq, tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), slipped into a correction.&nbsp;&nbsp;



Consumer confidence has dropped recently, unemployment <a href="https://www.benzinga.com/25/03/44189725/unemployment-rate-ticks-higher-in-february-us-economy-adds-fewer-jobs-than-expected">rose to </a>4.1% in February and economists warn of instability due to unpredictable policies.



Holger Schmieding, chief economist at Berenberg Bank, <a href="https://www.cnbc.com/2025/03/10/trump-an-agent-of-chaos-and-confusion-economists-warn.html">called </a>Trump "an agent of chaos and confusion" on CNBC's "Squawk Box Europe" Monday.



Schmieding said the president's "zigzagging on tariffs shows that he has little idea of the potential consequences of his tariff policies."



However, the economist said he does not see a recession ahead:



"I don't think we will talk about a U.S. recession. The U.S economy is resilient, I would say, largely despite Donald Trump." 



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/02/44015237/pending-home-sales-crash-to-record-low-jobless-claims-soar-wall-street-reacts">Pending Home Sales Crash To Record Low, Jobless Claims Soar: Wall Street Reacts</a></li>
</ul>



Image: Shutterstock

Trump Says Economy Faces A 'Period Of Transition': Is A Recession Ahead?

Tariffs, <a href="https://www.benzinga.com/topic/federal-reserve">federal spending cuts</a> and CoWoS (Chip-on-Wafer-on-Substrate) slowdowns are shaking up the hardware and networking sector. JPMorgan analyst Samik Chatterjee weighs in on which stocks are best equipped to weather the storm.



<h2 class="wp-block-heading">Tariffs: Who's Feeling The Heat?</h2>



Companies loaded with software-driven hardware are dodging the worst of the tariff blow, while commoditized IT hardware players are absorbing rising costs. Networking leaders like Cisco Systems Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) and Arista Networks Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) have an edge, given their ability to pass costs down the chain.



Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/44005208/nvidia-ai-juggernaut-rolls-on-but-can-arista-cisco-keep-up">Nvidia Dominance Continues As AI Demand Grows: Can Arista, Cisco Keep Up?</a>



Meanwhile, PC and server makers face tighter margins, with limited room to hike prices without losing customers.



Cisco's CFO has already factored in the tariff impact, while Arista's team says they've been planning for China risks ahead of time. The wildcard? 



Storage and networking equipment appear largely insulated, but competitive server pricing could make cost pass-throughs a challenge.



<h2 class="wp-block-heading">Federal Spending Cuts: Who's At Risk?</h2>



A slowdown in government IT budgets might hit device makers harder than infrastructure players. Cisco, with more than 5% of revenue tied to federal spending, could see near-term pressure, but JPMorgan suggests long-term benefits from federal tech modernization. 



Channel partners like CDW (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDW#NASDAQ">CDW</a>) also have notable exposure but are downplaying risks for now.



<h2 class="wp-block-heading">CoWoS Cuts: Nvidia's Supply Chain Feels The Squeeze</h2>



Recent CoWoS order cuts by Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) are reshuffling supplier valuations. The biggest impact? 



Nvidia-linked players like Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>), Amphenol Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APH#NYSE">APH</a>) and Coherent Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>) could face multiple compression, even if revenue estimates remain intact.



Cisco and Arista look relatively shielded from tariff pain, Nvidia's supply chain faces valuation headwinds and federal spending concerns might be a short-term roadblock for key players.



With hardware margins under pressure, JPMorgan's take is clear: software-rich and infrastructure-driven companies have the best shot at staying ahead.



Read Next: 



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<li><a href="https://www.benzinga.com/media/25/03/44214424/move-over-deepseek-not-so-fast-chinas-manus-ai-goes-viral-but-early-users-say-it-crashes-loops-and-fumbles-the-basics">Move Over DeepSeek? Not So Fast: China&#8217;s Manus AI Goes Viral, But Early Users Say It Crashes, Loops, And Fumbles The Basics</a></li>
</ul>



Photo: Shutterstock

Analyst Color

Long Ideas

Analyst Ratings

ANET

COHR

CSCO

Cisco, Nvidia, Arista Tackle Tariff Turmoil: Who's Best Positioned?

Fintech firm Rocket Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>) <a href="https://www.benzinga.com/pressreleases/25/03/n44215457/rocket-companies-to-acquire-redfin-accelerating-purchase-mortgage-strategy" target="_blank" rel="noreferrer noopener">agreed to acquire</a> Redfin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDFN#NASDAQ">RDFN</a>), a digital real estate platform, in an all-stock transaction valued at $12.50 per share, or approximately $1.75 billion in equity.



Under the terms of the agreement, Redfin shareholders will receive 0.7926 shares of Rocket Class A common stock for each Redfin share—a 63% premium over Redfin's 30-day volume-weighted average price. Rocket shareholders will own approximately 95% of the combined company upon completion, with Redfin shareholders holding the remaining 5%.



"Rocket and Redfin's approaches to lending and brokerage service have always been two halves of one vision to make the whole home-buying process magical," said Glenn Kelman, CEO of Redfin. "We want a customer to be able to check her phone to find out what she can afford, see which homes are just right for her, schedule a tour with a local, expert Redfin agent, and get pre-qualified for a loan—all in a matter of minutes."



See Also: <a href="https://www.benzinga.com/news/25/03/44213871/canadas-next-pm-mark-carney-vows-to-win-trade-war-with-trump-says-americans-should-make-no-mistake">Canada&#8217;s Next PM Mark Carney Vows To Win Trade War With Trump</a>



Redfin boasts 50 million monthly visitors, and one million active listings.



Detroit-based Rocket expects the deal to accelerate its purchase mortgage growth by integrating real estate search, brokerage, financing, title, and servicing—building on an 8% year-over-year increase in its 2024 purchase market share. 



With a combined 14 petabytes of data spanning 100 million properties, the company plans to enhance its AI capabilities to deliver more personalized, seamless, and automated consumer experiences.



Financially, the transaction is projected to generate over $200 million in annual run-rate synergies by 2027, including $140 million in cost reductions and $60 million in new revenue opportunities. The deal is expected to be accretive to Rocket's adjusted earnings per share by the end of 2026.



The deal is expected to close in mid-to-late 2025, pending shareholder and regulatory approval. Kelman will continue to lead Redfin, reporting to Rocket CEO Varun Krishna.



Additionally, Rocket announced that it would eliminate its complex "Up-C" and high-vote/low-vote structure, reducing four classes of stock to two and enhancing transparency and flexibility for future acquisitions. Gilbert and other Rock Holdings shareholders will hold standard one-vote-per-share common stock directly in Rocket, replacing their current 10-vote shares.



Special Dividend: Rocket declared a one-time cash dividend of $0.80 per Class A share, payable April 3, 2025, to shareholders of record as of March 20.



Price Action: Rocket shares are trading lower by 10.84% at $14.06 and RDFN higher by 76.12% at $10.25 premarket on Monday&#8217;s last check.



Now Read:



<ul>
<li><a href="https://www.benzinga.com/news/asset-sales/25/03/44202239/deal-dispatch-tiktok-walgreens-raizen">Deal Dispatch: Clock Ticks On TikTok, Raizen Explores Asset Sale, Investors Urge Walgreens To Go Private</a></li>
</ul>



Image: Shutterstock

Rocket Wants $1.75 Billion Redfin Deal To Change How America Buys Homes

Mark Carney has won the Liberal Party leadership race to succeed Justin Trudeau as Canada&#8217;s prime minister, vowing to stand firm against U.S. President Donald Trump&#8217;s trade threats as tensions escalate <a href="https://www.benzinga.com/25/01/42806662/justin-trudeau-set-to-resign-as-prime-minister-of-canada-report">between the neighboring countries</a>.



What Happened: Carney, 59, the former governor of both the Bank of Canada and Bank of England, secured 85.9% of the vote in a landslide victory over rivals including former Finance Minister Chrystia Freeland, <a href="https://www.bbc.com/news/articles/c36wkg47z1po">reported</a> BBC. The political newcomer has never held elected office but brings significant financial and crisis <a href="https://in.benzinga.com/markets/25/03/44102599/canadian-pm-justin-trudeau-retaliates-with-25-tariffs-on-us-goods-amid-escalating-trade-war">management experience to the role</a>.



&#8220;Americans should make no mistake,&#8221; Carney said in his victory speech. &#8220;In trade, as in hockey, Canada will win.&#8221; He promised to maintain retaliatory tariffs on U.S. imports &#8220;until the Americans show us respect.&#8221;



The leadership transition comes amid escalating trade tensions after Trump <a href="https://www.benzinga.com/markets/25/03/44102599/canadian-pm-justin-trudeau-retaliates-with-25-tariffs-on-us-goods-amid-escalating-trade-war">imposed 25% tariffs on Canadian goods</a> last week, though some products were later exempted. Canada responded with reciprocal tariffs on C$155 billion ($109 billion) worth of U.S. imports.



&#8220;I know these are dark days,&#8221; Carney told supporters. &#8220;Dark days brought on by a country we can no longer trust.&#8221;



See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/25/03/44212386/stock-futures-drop-as-reverse-trump-trade-takes-holdpeter-schiff-says-market-shift-long-overdue-and-will-likely-continue-for-a-decade" target="_blank" rel="noreferrer noopener">Stock Futures Drop As ‘Reverse Trump Trade' Takes Hold—Peter Schiff Says Market Shift ‘Long Overdue' And Will Likely Continue For A Decade</a>



Why It Matters: Carney&#8217;s economic platform includes pushing forward major energy projects like pipelines, investing in housing and clean energy, liberalizing inter-provincial trade, and diversifying <a href="https://www.benzinga.com/25/03/44212152/mark-carney-takes-justin-trudeaus-job-as-canadas-new-pm-ready-to-face-trumps-tariff-threats-i-know-how-to-manage-crises">Canada&#8217;s economy beyond U.S. dependence</a>. He also pledged to cap federal government size, which expanded by 40% under Trudeau.



Carney, who will lead a minority government, faces significant challenges beyond trade disputes, including Canada&#8217;s housing crisis and rising cost of living that contributed to Trudeau&#8217;s declining popularity.



The Harvard-educated former Goldman Sachs banker&#8217;s appointment marks a historic shift in Canadian politics as he becomes the first prime minister without prior <a href="https://www.benzinga.com/25/01/42806662/justin-trudeau-set-to-resign-as-prime-minister-of-canada-report">legislative or cabinet experience</a>.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/03/44212672/jamie-dimon-cashed-out-234-million-in-jpmorgan-stock-warren-buffett-stockpiled-334-billion-in-cash-weeks-later-markets-crashed-coincidence" target="_blank" rel="noreferrer noopener">Jamie Dimon Cashed Out $234 Million In JPMorgan Stock, Warren Buffett Stockpiled $334 Billion In Cash — Weeks Later, Markets Crashed. Coincidence?</a></li>
</ul>



Image Via Shutterstock



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Canada's Next PM Mark Carney Vows To Win Trade War With Trump: 'Americans Should Make No Mistake'

At first blush, commodities don't seem to be popping in 2025 – not with the benchmark S&amp;P GSCI Commodities Index down by 1% this year.



Yet if you start chiseling away at the index, it's easier to see one sub-sector outperforming early in 2025 – precious metals. Take the S&amp;P GSCI Precious Metals Index (SPGSPM), up 9.9% year-to-date. The S&amp;P GSCI Gold Index (SPGSGC) is up over 10%, and the S&amp;P (SPSSI) GSCI Silver Index is riding high at 10.9% over the same time period.



All are well ahead of the S&amp;P 500 (-1.2% year-to-date) and the Nasdaq Composite Index (-4.70%).



Here are the five metals with the best prospects for a golden 2025.



Sitting side by side precious metals are looking better and better for 2025, as investors lean back for an old perennial in chaotic market times – not that metal commodities are immune from volatility right now.



"The 2025 metals market is chaotic, driven by geopolitical tensions, supply constraints, and shifting demand," said Brad Thor, CEO at Thor Metals Group in Beverly Hills, Cal. "China's restrictions on critical mineral exports and U.S. tariffs on foreign metals have created price instability, while central banks continue devaluing currencies through reckless monetary policies. Meanwhile, inflation remains sticky, and fiat confidence is eroding."



Yet simultaneously, investors are fleeing paper assets in search of actual stores of value—driving demand for hard assets like physical silver, platinum, and palladium, Thor noted. "The rise in gold prices has acutely observed this," he said. "However, given metals&#8217; tendency to move as a tribe, these macro drivers also provide similar tailwinds for other metals markets."



What's to like about precious metals in 2025? Here are the five hard commodities to make room for in your portfolio.



<h2 class="wp-block-heading">Silver is popping</h2>



Silver is emerging as the standout metal of 2025.



"Industrial demand is skyrocketing due to its irreplaceable role in solar panels, electronics, and medical technologies," Thor said. "Global silver inventories are shrinking, with supply deficits projected to widen."



Thor noted that as central banks hoard gold, silver remains the undervalued alternative—historically lagging behind gold's moves before experiencing exponential gains. " The gold-to-silver ratio remains wildly distorted, signaling silver is dramatically underpriced," he said.



The best way to invest in metal is through physical silver.



"Forget ETFs, mining stocks, or futures—if you don't hold it, you don't own it," Thor said. "Physical silver is real money with no counterparty risk. Unlike paper assets, it can't be frozen, defaulted on, or manipulated by Wall Street. I believe owning physical silver is the most lucrative and secure way for retail investors to gain exposure to the silver market."



[<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-7-days-free-trial/?el=ResearchDaily&amp;he={{email}}&amp;adt_ei={{email}}&amp;utm_adType=SponsorAd&amp;utm_ad=RD0310&amp;utm_campaign=BZEdgeRankings">The #1 Ranked Stock Right Now Is…</a>]



<h2 class="wp-block-heading">Aluminium rising</h2>



Another shining commodity in 2025 is aluminum, which seems immune to the trade and tariff wars emerging across the globe.



"Recent data from the London Metal Exchange (LME) indicates that a single entity controls up to 90% of available aluminum inventories, valued at approximately $505 million," said Tracy Shuchart, senior economist at NinjaTrader. "This concentration has contributed to price increases, with aluminum reaching its highest levels in nearly nine months, in addition to new tariffs."



<h2 class="wp-block-heading">Copper is worth a look, too</h2>



Demand for copper is surging due to its critical role in green energy technologies, with prices up 7.8% year to date. "However, the market remains volatile, with miners facing challenges related to extraction costs, taxation, and environmental concerns," Shuchart noted.



Copper is also reshaping itself as a diversified commodity.



"Copper has always been a reliable industrial metal, but with the expansion of infrastructure projects worldwide and the electrification movement, its value has surged," said Benson Varghese, an attorney and the founder and managing partner of the Texas-based law firm Varghese Summersett, which advises clients on financial investments. "Everything from EV charging networks to wind and solar farms depends on copper, and supply struggles keep prices high. Investors hedge against inflation by holding copper futures or stocks in mining companies with stable supply chains.



<h2 class="wp-block-heading">Platinum shines</h2>



Platinum has performed well this year, with the S&amp;P GSXCI Platinum Index up 7.5% in 2025.



"Upward price movement has been driven by increased industrial demand and supply constraints," Shuchart said. "The metal&#8217;s use in automotive catalytic converters, as we have seen car makers in the West scale down EV production and return to more ICE vehicle production, and potential applications in hydrogen fuel cells have bolstered its demand."



<h2 class="wp-block-heading">Lithium in play</h2>



Another metal that's been making waves in 2025 is lithium.



"The demand for lithium has skyrocketed as the electric vehicle (EV) market expands, and despite temporary corrections, long-term supply shortages continue to push prices upward," Varghese said. "Governments worldwide are pumping incentives into renewable energy storage, which means lithium isn&#8217;t slowing down. I've had clients diversify into lithium investments, whether through mining stocks or ETFs, to capitalize on this growth while traditional assets flounder."



<h2 class="wp-block-heading">Roundabout Ways of Investing in Precious Metals</h2>



Investors may consider unconventional strategies when first investing in precious metals.



"For instance, instead of only investing in the metals themselves, look at companies that manufacture essential components using these metals," Varghese advised. "Processors, refineries, and battery manufacturers can often see higher returns than the raw commodities themselves. Understanding where the money flows after extraction is just as important as the metal itself."



If you're investing for the long term, aim for direct ownership.



"It's best to own physical metals and hold for years," said Brett Elliott, American Precious Metals Exchange (APMEX) marketing director. "It's easier than ever to shop for precious metals online and have them delivered safely and anonymously directly to your doorstep."



Elliot noted that direct metal ownership is one of the only ways to invest in something with zero counterparty risk.



"If you prefer some form of digital gold, consider buying metal and paying a vaulting company to store the metal," he added. "This has the advantage of enhanced liquidity if you go with the right company, but make sure you read the fine print and know how to either sell the metal or take ownership in the future. Fully allocated, insured, and third-party-audited vaults are the only ones you should consider."



<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-7-days-free-trial/?el=ResearchDaily&amp;he={{email}}&amp;adt_ei={{email}}&amp;utm_adType=SponsorAd&amp;utm_ad=RD0310&amp;utm_campaign=BZEdgeRankings">The #1 Best Stock to Buy Now Is…</a>



The new Benzinga Rankings show you exactly how stocks stack up—scoring them across five key factors that matter most to investors. Every day, one stock rises to the top. Which one is leading today? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-7-days-free-trial/?el=ResearchDaily&amp;he={{email}}&amp;adt_ei={{email}}&amp;utm_adType=SponsorAd&amp;utm_ad=RD0310&amp;utm_campaign=BZEdgeRankings">Click here to reveal the top-ranked stocks today.</a>



Photo by MediaStock via Shutterstock

5 Precious Metals That Could Add Luster To Your Portfolio in 2025

U.S. stock futures declined on Monday after a small bout of relief on Friday as indices neared the correction zone. Futures of all four benchmark indices fell in premarket trading.



President Donald Trump, on Sunday, did not rule out the possibility of a recession this year. Acknowledging the potential of short-term turbulence from his economic agenda, he expressed confidence in future prosperity. In a Fox News interview, he said, &#8220;I hate to predict things like that&#8221; and called the changes being brought about by his administration as &#8220;very big.&#8221;



Meanwhile, China responded with retaliatory tariffs on U.S. agricultural goods including its largest import from the U.S. — Soybeans.



Investors will watch out for the inflation data slated to be released this week on Wednesday.



Meanwhile, the 10-year Treasury yield stood at 4.24%, while the two-year yield was at 3.94%. According to the CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>, there is a 97% chance that the Federal Reserve will keep interest rates unchanged for the March meeting.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Nasdaq 100</td><td>-1.22%</td></tr><tr><td>S&amp;P 500</td><td>-1.15%</td></tr><tr><td>Dow Jones</td><td>-0.95%</td></tr><tr><td>Russell 2000</td><td>-1.04%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell in premarket on Monday. SPY lost 1.03% to fall at $570.00 level, and QQQ declined 1.12% to $486.26, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From The Last Session



Utilities, information technology, and energy sectors led Friday&#8217;s U.S. <a href="https://www.benzinga.com/news/earnings/25/03/44212927/dow-gains-over-200-points-but-records-weekly-loss-fear-among-investors-eases-but-greed-index-remains-in-extreme-fear-zone">stock gains</a>, pushing the Dow Jones over 200 points higher. However, consumer staples and financials declined, countering the broader market&#8217;s positive trend. 



Despite Friday&#8217;s rally, all major indices recorded weekly losses: the S&amp;P 500 fell 3.1%, its worst week since September, the Dow dropped 2.4%, and the Nasdaq tumbled 3.5%. Last week, Nasdaq 100 entered the correction territory on Friday, falling nearly 10% from its last high, which eased to 9.1% after Friday&#8217;s sessions, whereas the S&amp;P 500 was 6.1% lower from its last record.



Economic data revealed a mixed picture, with February&#8217;s jobs report showing a moderate increase of 151,000 jobs, below expectations, and a surprise rise in the unemployment rate to 4.1%.



In company news, Genesco Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCO#NYSE">GCO</a>) shares plummeted over 16% on disappointing earnings, while American Public Education Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APEI#NASDAQ">APEI</a>) shares surged 22% on strong results.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>0.70%</td><td>18,196.22</td></tr><tr><td>S&amp;P 500</td><td>0.55%</td><td>5,770.20</td></tr><tr><td>Dow Jones</td><td>0.52%</td><td>42,801.72 </td></tr><tr><td>Russell 2000</td><td>0.43%</td><td>2,075.48</td></tr></tbody></table></figure>



Insights From Analysts



According to the Yardeni Research&#8217;s QuickTakes by Ed Yardeni and Eric Wallerstein, &#8220;Anything is possible in Trump World.&#8221;



&#8220;We can&#8217;t rule out the possibility that a bear market started on Feb. 20, the day after the S&amp;P 500 rose to a record high. It could be like the &#8216;flash crashes&#8217; that occurred during 1962 and 1987. It could happen quickly and reverse just as quickly. So the selloff could provide buying opportunities, especially in overvalued names that are now less so,&#8221; the note stated.



According to the note, Trump administration&#8217;s rapid-fire policy initiatives are stress-testing the economy, which has been remarkably resilient so far, and raising fears of a recession.



The current bull market, which began in October 2022, has entered its third year. According to Ryan Detrick, the chief market strategist at Carson Research, it is normal to see some fluctuations in the third year of a bull market.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Not all bull markets make it to their third year, but when they do it is perfectly normal to see some chop and frustration. <a href="https://t.co/moLsIkXAhS">pic.twitter.com/moLsIkXAhS</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1898930376824803647?ref_src=twsrc%5Etfw">March 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



While the conflict around tariffs has raised the speculation of a slowdown and recession, Louis Navellier of Navellier &amp; Associates had a contrarian view. According to him, &#8220;The anxiety over tariffs may be holding back some consumers, but I want to assure you that I do not expect most tariffs to be inflationary. As an example, the tariffs that have been imposed on China are expected to be suppressed by Chinese deflation as well as a weak Chinese yuan.&#8221;



See Also:<a href="https://www.benzinga.com/money/how-to-trade-futures"> How to Trade Futures</a>



Upcoming Economic Data



Here&#8217;s what investors will keep on this week:



<ul>
<li>No data is scheduled to be released on Monday.</li>
</ul>



<ul>
<li>On Tuesday, February&#8217;s NFIB optimism index data will be released at 6:00 a.m., ET.</li>
</ul>



<ul>
<li>January&#8217;s job openings data will be out by 10:00 a.m., ET.</li>
</ul>



<ul>
<li>On Wednesday, February&#8217;s core and headline consumer price index data will be out by 8:30 a.m., ET.</li>
</ul>



<ul>
<li>Monthly U.S. federal budget data for February will be announced at 2:00 p.m., ET.</li>
</ul>



<ul>
<li>On Thursday, the initial jobless claims data for the week ended March 8 will be released at 8:30 a.m., ET.</li>
</ul>



<ul>
<li>The core and headline producer price index data for February will also be announced at 8:30 a.m., ET.</li>
</ul>



<ul>
<li>On Friday, the preliminary consumer sentiment data for March will be released by 10:00 a.m., ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>BioNTech SE ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) slipped 1.06% in premarket on Monday ahead of its earnings, which will be released before the opening bell. Analysts expect it to report earnings of 58 cents per share on revenue of $1.15 billion.</li>
</ul>



<ul>
<li>Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) dropped 1.44% as Wall Street expects it to report quarterly earnings of $1.49 per share and revenue of $14.40 billion after the closing bell.</li>
</ul>



<ul>
<li>Mission Produce Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVO#NASDAQ">AVO</a>) was down 0.33% ahead of its earnings, which will be released after the closing bell. Analysts expect it to report earnings of 3 cents per share on revenue of $285.50 million.</li>
</ul>



<ul>
<li>Vail Resorts Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTN#NYSE">MTN</a>) was flat at -0.01% as Wall Street expects it to report quarterly earnings of $6.31 per share on revenue of $1.14 billion after the closing bell.</li>
</ul>



<ul>
<li>Cognizant Technology Solutions Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTSH#NASDAQ">CTSH</a>) jumped by 3.33% following a report on Friday suggesting activist investor, Mantle Ridge, built a more than $1 billion stake in the company.</li>
</ul>



<ul>
<li>Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) declined 1.41% despite posting a year-on-year rise in its February 2025 revenue. The sales fell on a monthly basis from January by 11.3%.</li>
</ul>



<ul>
<li>Checkpoint Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CKPT#NASDAQ">CKPT</a>) surged 66.40% after Sun Pharma acquired the company for up to $355 million, securing FDA-approved cancer drug UNLOXCYT.</li>
</ul>



<ul>
<li>Sharps Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STSS#NASDAQ">STSS</a>) zoomed 62.15% after providing business updates. The company raised $20 million, cleared its debt and expanded in Hungary. Also signed a five-year, $50 million syringe deal with a U.S. supplier, which is set to begin revenue generation in the second half of 2025.</li>
</ul>



Commodities, Gold And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 0.04% to hover around $67.02 per barrel.



The gold spot index was up by 0.28% to $2,903.10 per ounce. Its last record high was at $2,956.37 per ounce. The Dollar Index was down 0.20% at the 103.628 level.



Asian markets closed mixed on Monday as Australia's ASX 200, Japan's Nikkei 225, and South Korea's Kospi index advanced, whereas China's CSI 300, and Hong Kong's Hang Seng index declined. European markets were lower in trade.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/03/44214169/mark-zuckerbergs-meta-platforms-a-lucrative-bet-as-investors-favor-less-leveraged-tech-stocks-says-expert-amid-mag7s-2025-underperformance">Mark Zuckerberg&#8217;s Meta Platforms A Lucrative Bet As &#8216;Investors Favor Less Leveraged Tech Stocks,&#8217; Says Expert Amid Mag7&#8217;s 2025 Underperformance</a></li>
</ul>



Photo courtesy: Shutterstock

Government

Futures

Pre-Market Outlook

APEI

CKPT

CTSH

STSS

US Stocks Likely To Open Lower After Trump Hints At Looming Recession: Expert Says Can't Rule Out A Bear Market As Indices Inch Towards Correction Territory

China's Manus AI is being hyped as the next big leap in agentic AI—maybe even a "DeepSeek moment"—but early testers say the platform might be more sizzle than substance.



What Happened: Developed by Chinese startup Monica, the daughter company of The Butterfly Effect, Manus is billed as an "autonomous agent" capable of handling complex tasks like booking flights, ordering food, and even programming video games.



Its invite-only beta sparked massive buzz, with over 130,000 users joining its Discord server and invite codes reportedly selling for thousands of dollars on Chinese reselling app Xianyu, <a href="https://techcrunch.com/2025/03/09/manus-probably-isnt-chinas-second-deepseek-moment/">reported</a> TechCrunch.



Some influencers and tech executives praised Manus as revolutionary. Hugging Face's head of product called it "the most impressive AI tool I've ever tried," while AI researcher Dean Ball dubbed it "the most sophisticated computer using AI."



See Also:&nbsp;<a href="https://www.benzinga.com/25/03/44070969/former-intel-ceo-craig-barrett-warns-that-splitting-the-company-would-be-a-costly-mistake-a-far-better-move-might-be-to-fire-the-intel-board-and-rehire-pat-gelsinger" target="_blank" rel="noreferrer noopener">‘Fire The Intel Board,' Says Former CEO Craig Barrett As He Pushes Back On Breakup Plans, Urges Focus On Chipmaking Wins</a>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It is wrong to call manus a "deepseek moment." Deepseek was about replication of capabilities already publicly achieved by American firms. Manus is actually advancing the frontier. The most sophisticated computer using ai now comes from a Chinese startup, full stop.&mdash; Dean W. Ball (@deanwball) <a href="https://twitter.com/deanwball/status/1898771696796270672?ref_src=twsrc%5Etfw">March 9, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Got access and it&#39;s true&#8230; Manus is the most impressive AI tool I&#39;ve ever tried. &#8211; The agentic capabilities are mind-blowing, redefining what&#39;s possible. &#8211; The UX is what so many others promised&#8230; but this time it just works. prompt: &quot;code a threejs game where you control a… <a href="https://t.co/rUD2XV4ZVK">pic.twitter.com/rUD2XV4ZVK</a>&mdash; Victor M (@victormustar) <a href="https://twitter.com/victormustar/status/1898505307896131708?ref_src=twsrc%5Etfw">March 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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But some user experience tells a different story.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">if the problem in the pic is not obvious to you, it is obvious to my young Ph.D biochem friend and also to Sonnet 3.7, which (seeing as it took a few hours for this project) points to an easy improvement with a MoA "Am I bullshitting?" check. (also probably monomer, not dimer) <a href="https://t.co/PbZZNFHhBB">pic.twitter.com/PbZZNFHhBB</a>&mdash; Teortaxes&#x25b6;&#xFE0F; (DeepSeek 推特&#x1f40b;铁粉 2023 – ∞) (@teortaxesTex) <a href="https://twitter.com/teortaxesTex/status/1898716653468221848?ref_src=twsrc%5Etfw">March 9, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.



Alexander Doria, co-founder of AI startup Pleias, wrote on X, formerly Twitter, that he encountered "endless loops" and errors.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">To give more detail: it never manages to fill a file with synthetic human: assistant: exchange. Instead there are regular &quot;encountered errors&quot; and generation examples being outputted directly through injection. <a href="https://t.co/UnpWEgbNxa">pic.twitter.com/UnpWEgbNxa</a>&mdash; Alexander Doria (@Dorialexander) <a href="https://twitter.com/Dorialexander/status/1898722227756859506?ref_src=twsrc%5Etfw">March 9, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Zengyi Qin, a generative AI researcher, also took to X and shared his views saying, "Manus is NOT a technology breakthrough," because it mainly follows pre-defined workflows to perform tasks and operates within fairly limited environments.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Many people ask me about Manus <a href="https://twitter.com/ManusAI_HQ?ref_src=twsrc%5Etfw">@ManusAI_HQ</a> and here are my thoughts: <a href="https://t.co/PgwCqzzb6y">pic.twitter.com/PgwCqzzb6y</a>&mdash; Zengyi Qin (@qinzytech) <a href="https://twitter.com/qinzytech/status/1897505798974267730?ref_src=twsrc%5Etfw">March 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Manus' website makes lofty claims—like buying real estate or building apps autonomously—but some of the platform's core functions reportedly rely on fine-tuned versions of existing models like Anthropic's Claude and Alibaba Group Holding Ltd.'s (NYSE BABA) Qwen.



Yichao "Peak" Ji, a research lead for Manus, called the tool a "completely autonomous agent" and claimed it outperforms OpenAI's Deep Research on the GAIA benchmark.&nbsp;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Introducing Manus: the first general AI agent. Try Manus today and see the future of human-machine collaboration: <a href="https://t.co/IKBPiiHsta">https://t.co/IKBPiiHsta</a> <a href="https://t.co/z3C8fUK3eN">pic.twitter.com/z3C8fUK3eN</a>&mdash; ManusAI (@ManusAI_HQ) <a href="https://twitter.com/ManusAI_HQ/status/1897294098945728752?ref_src=twsrc%5Etfw">March 5, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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But a viral video touting Manus' capabilities was later confirmed by Ji to not be a real demo.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Co-founder of Manus AI here! Thanks for your interest in Manus <a href="https://twitter.com/heyBarsee?ref_src=twsrc%5Etfw">@heyBarsee</a>, but this video is definitely NOT Manus&#x1f923;. Our official account is <a href="https://twitter.com/ManusAI_HQ?ref_src=twsrc%5Etfw">@ManusAI_HQ</a> , and Manus is a web-based AI agent, like OpenAI Operator/DeepResearch, not a VNC for smartphones.&mdash; Yichao &#39;Peak&#39; Ji (@peakji) <a href="https://twitter.com/peakji/status/1898225941954142430?ref_src=twsrc%5Etfw">March 8, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Why It's Important: &nbsp;The rise of Manus comes at a time when the AI landscape in China is rapidly evolving. DeepSeek, another Chinese AI firm, has been under <a href="https://in.benzinga.com/government/regulations/25/03/44201104/usa-targets-deepseek-weighs-restrictions-on-chinas-ai-firm-that-shook-nvidias-market-value-by-600-billion">scrutiny by the U.S. government</a>, which is considering restrictions on its operations.



DeepSeek&#8217;s AI models have been made open-source, allowing them to be freely downloaded and copied.



In January 2025, DeepSeek&#8217;s assertion that its AI model was developed at a fraction of the cost compared to its U.S. competitors resulted in Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) losing $600 billion in <a href="https://www.benzinga.com/markets/equities/25/01/43256425/nvidia-says-deepseek-an-illustration-of-how-new-ai-models-can-be-created-while-being-export-control-compliant-amid-600-billion-market-value-plunge">market value in just one day</a>.



Moreover, a study by Copyleaks revealed that <a href="https://in.benzinga.com/markets/equities/25/03/44103985/74-of-deepseeks-output-mimics-openais-chatgpt-new-study-reveals-it-does-raise-questions-about-its-development">74% of DeepSeek&#8217;s output</a> mimics OpenAI&#8217;s ChatGPT, raising questions about its development process.



Meanwhile, earlier this month, <a href="https://in.benzinga.com/25/03/44101621/deepseek-loses-top-spot-as-tencents-yuanbao-ai-becomes-no-1-iphone-app-amid-intensifying-ai-battle">Tencent&#8217;s Yuanbao AI</a> has surpassed DeepSeek as the most downloaded iPhone app in China.



Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.



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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.



Photo courtesy: Shutterstock

Move Over DeepSeek? Not So Fast: China's Manus AI Goes Viral, But Early Users Say It Crashes, Loops, And Fumbles The Basics

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