{"id":48730,"date":"2025-01-13T19:01:43","date_gmt":"2025-01-13T19:01:43","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-recap-tech-slump-drags-sp-500-and-nasdaq-lower-on-january-13-2025\/48730\/"},"modified":"2025-01-13T19:01:43","modified_gmt":"2025-01-13T19:01:43","slug":"stock-market-recap-tech-slump-drags-sp-500-and-nasdaq-lower-on-january-13-2025","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-tech-slump-drags-sp-500-and-nasdaq-lower-on-january-13-2025\/48730\/","title":{"rendered":"Stock Market Recap: Tech Slump Drags S&#038;P 500 and Nasdaq Lower on January 13, 2025"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-tech-slump-drags-sp-500-and-nasdaq-lower-on-january-13-2025\/48730\/#Market_Performance_Overview\" >Market Performance Overview<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-tech-slump-drags-sp-500-and-nasdaq-lower-on-january-13-2025\/48730\/#Why_Was_the_Market_Down_Today\" >Why Was the Market Down Today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-tech-slump-drags-sp-500-and-nasdaq-lower-on-january-13-2025\/48730\/#Tech_Sector_Takes_a_Hit\" >Tech Sector Takes a Hit<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-tech-slump-drags-sp-500-and-nasdaq-lower-on-january-13-2025\/48730\/#Major_Stock_Movements\" >Major Stock Movements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-tech-slump-drags-sp-500-and-nasdaq-lower-on-january-13-2025\/48730\/#Upcoming_Market_Events\" >Upcoming Market Events<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-tech-slump-drags-sp-500-and-nasdaq-lower-on-january-13-2025\/48730\/#Global_Market_Factors\" >Global Market Factors<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-tech-slump-drags-sp-500-and-nasdaq-lower-on-january-13-2025\/48730\/#Looking_Ahead\" >Looking Ahead<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Market_Performance_Overview\"><\/span>Market Performance Overview<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The U.S. stock market experienced a mixed session on Monday, January 13, 2025, as investors grappled with rising Treasury yields and reassessed expectations for Federal Reserve interest rate cuts. The <a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> fell 0.72% to 5,785.14, while the tech-heavy Nasdaq Composite dropped 1.51% to 18,872.98. In contrast, the <a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average managed to eke out a gain of 0.32%, closing at 42,072.33.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Was_the_Market_Down_Today\"><\/span>Why Was the Market Down Today?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The market&#8217;s decline was primarily driven by two factors:<\/p>\n<p>1. <b>Surging bond yields:<\/b> The 10-year Treasury yield touched a 14-month high, approaching 4.8%. This surge in yields has made bonds more attractive relative to stocks and raised concerns about higher borrowing costs for businesses and consumers.<\/p>\n<p>2. <b>Fading rate cut expectations:<\/b> Following a stronger-than-expected jobs report last Friday, investors have scaled back their expectations for Federal Reserve rate cuts in 2025. The market is now pricing in just 30 basis points of cuts for the entire year, with the first cut not expected until at least September.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tech_Sector_Takes_a_Hit\"><\/span>Tech Sector Takes a Hit<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The technology sector, which has been a key driver of the bull market, faced significant pressure on Monday. All of the &#8220;Magnificent Seven&#8221; tech megacaps lost ground, with notable declines in:<\/p>\n<p>&#8211; Nvidia (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>): Down 3.52% to $131.13<br \/>&#8211; Tesla (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>): Fell 2.41% to $385.24<br \/>&#8211; Apple (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AAPL\">AAPL<\/a>): Declined on reports of weakening global iPhone sales<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Major_Stock_Movements\"><\/span>Major Stock Movements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several stocks made significant moves on Monday:<\/p>\n<p>&#8211; Moderna (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MRNA\">MRNA<\/a>): Plunged over 22% after cutting its 2025 sales forecast by $1 billion due to soft vaccine demand.<br \/>&#8211; U.S. Steel (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=X\">X<\/a>): Gained 4% after the U.S. government extended the deadline for Nippon Steel to abandon its proposed merger.<br \/>&#8211; Intra-Cellular Therapies (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=ITCI\">ITCI<\/a>): Surged 34.46% to $127.56, leading the day&#8217;s gainers.<br \/>&#8211; Constellation Energy (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CEG\">CEG<\/a>): Dipped slightly after soaring 25% on Friday following a $26.6 billion deal to acquire rival Calpine.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Upcoming_Market_Events\"><\/span>Upcoming Market Events<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are closely watching several key events this week:<\/p>\n<p>1. <b>Consumer Price Index (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CPI\">CPI<\/a>) data:<\/b> Set to be released on Wednesday, this report will be crucial in assessing inflation trends and potential Fed policy moves.<\/p>\n<p>2. <b>Bank earnings:<\/b> Major financial institutions, including JPMorgan Chase, Wells Fargo, and Goldman Sachs, will kick off the fourth-quarter earnings season on Wednesday.<\/p>\n<p>3. <b>Fed speeches:<\/b> At least five Federal Reserve officials are scheduled to speak this week, offering insights into potential monetary policy decisions.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Global_Market_Factors\"><\/span>Global Market Factors<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several global factors are influencing U.S. markets:<\/p>\n<p>&#8211; <b>Oil prices:<\/b> Crude oil futures rose to four-month highs, with Brent briefly climbing above $81 a barrel, due to new U.S. sanctions on Russia&#8217;s oil industry.<br \/>&#8211; <b>Dollar strength:<\/b> The U.S. dollar surged to a two-year high against major currency peers, putting pressure on international stocks and commodities priced in dollars.<br \/>&#8211; <b>Asian markets:<\/b> Most Asian stock markets slipped on Monday, with South Korea&#8217;s KOSPI edging down 0.2% amid political uncertainty.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Looking_Ahead\"><\/span>Looking Ahead<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As the week progresses, market participants will be keenly focused on the CPI data and bank earnings for clues about the economy&#8217;s health and potential Fed actions. The recent shift in rate cut expectations has created a more cautious environment, with investors reassessing their strategies for 2025.<\/p>\n<p>The technology sector&#8217;s performance will be crucial to watch, as it has been a significant driver of market gains. Any further weakness in tech stocks could have broader implications for market sentiment and overall index performance.<\/p>\n<p>In conclusion, while the Dow managed to eke out a gain, the broader market&#8217;s decline on January 13, 2025, reflects growing concerns about inflation, interest rates, and corporate earnings. Investors should stay tuned to economic data releases and earnings reports in the coming days for further direction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market Performance Overview The U.S. stock market experienced a mixed session on Monday, January 13, 2025, as investors grappled with [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[94],"tags":[4,225,633,1524,1648,3712,3858,4016],"class_list":["post-48730","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-update","tag-tsla","tag-aapl","tag-nvda","tag-mrna","tag-ceg","tag-cpi","tag-x","tag-itci"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=48730"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48730\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=48730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=48730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=48730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}