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U.S. stock markets are bracing for another volatile session as investors digest a roller-coaster week. The S&P 500 and Nasdaq extended losses yesterday, with the former flirting with correction territory after a 0.5% drop, while the Dow shed 478 points amid tariff uncertainties. This follows Monday’s broad sell-off, the worst single-day performance of 2025 so far, driven by economic slowdown fears and tariff policy whiplash. Today, attention shifts to the upcoming CPI report, which could sway sentiment further. In Asia, Indian benchmarks Sensex and Nifty are under pressure, with tech stocks sliding, though IndusInd Bank rebounded over 3%. Broader markets show mixed signals—mid-caps edge up, but small-caps lag.

Key Business Updates

Global trade tensions escalated briefly as President Trump’s abrupt threat to double tariffs on Canadian steel and aluminum to 50% rattled markets yesterday—only to be walked back hours later. The flip-flop has left manufacturers and investors on edge, with whispers of behind-the-scenes pressure from U.S. industry leaders. Elsewhere, Delta Airlines’ warning of softening demand due to a murky economic outlook dragged travel stocks lower, though Southwest Airlines bucked the trend, soaring 8.3% after unveiling a new basic economy ticket strategy. In the UAE, a top aluminum firm flagged persistent price volatility through 2025, hinting at supply chain strains.

Stock Market Trends

• Winners & Losers: PVR Inox is in focus as analysts project a 71% upside (₹940 to ₹1,610), fueled by bullish brokerage bets on cinema recovery. Tesla, however, continues its steep descent, down 41.4% year-to-date, with violence against its dealers prompting bold rhetoric from Trump about labeling it “domestic terrorism.” PI Industries shows signs of a bottom reversal at ₹3,353.9, drawing buyer interest.
• Sector Watch: Metals signal an upward shift, with JSL poised for gains, while autos like TVS Motors hint at strength via technical patterns. Energy stocks, led by BPCL and Reliance, eye a breakout from corrective phases. Pharma (Alkem, Laurus Labs) and select railway stocks (IRFC, Rites) are also on radars for potential reversals.
• Broader Metrics: On the BSE, decliners outpaced advancers (2,436 vs. 1,284) by midday, with 193 stocks hitting 52-week lows against 40 at highs.

Corporate Buzz

Elon Musk’s SpaceX is gearing up for a high-stakes mission to retrieve astronaut Sunita Williams, with a launch window nearing—details remain tightly guarded, but the timeline suggests urgency. Meanwhile, Viking Cruises reported a 26% surge in 2025 advance bookings, defying travel sector gloom. Rumors swirl around Asana’s 24% stock plunge yesterday, with whispers of internal upheaval or a strategic pivot adding intrigue.

Economic Pulse

Indonesia’s fiscal briefing, delayed unusually, is now set for tomorrow, March 13, potentially unveiling stimulus measures. In Switzerland, the bourse chief warned that market volatility could stall IPOs, a sentiment echoed in choppy global exchanges. Brazil is mulling tighter fintech rules amid money laundering concerns, which could ripple through emerging markets.

Whispers & Rumors

• Word on the street suggests Trump’s tariff reversal came after a heated call with Ontario’s Premier Doug Ford, possibly tied to undisclosed concessions.
• Unconfirmed chatter hints at Nvidia’s P/E ratio dip—now at its lowest since 2019—sparking speculation of a strategic acquisition to juice its stock.
• A quiet buzz around the Education Department hints at looming layoffs linked to Project 2025’s radical restructuring plans, with staff reportedly on edge after a cryptic email yesterday.

Outlook

Markets remain jittery as tariff drama, economic slowdown signals, and sector-specific shifts dominate the narrative. Investors are advised to watch CPI data, energy and metal breakouts, and any sudden policy pivots.

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