Nasdaq Tumbles Over 300 Points; Chicago PMI Rises In March

U.S. stocks traded lower this morning, with the Nasdaq Composite falling more than 300 points on Monday.

Following the market opening Monday, the Dow traded down 0.27% to 41,473.52 while the NASDAQ fell 1.87% to 16,998.79. The S&P 500 also fell, dropping, 0.91% to 5,530.01.

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Leading and Lagging Sectors

Energy shares jumped by 1.1% on Monday.

In trading on Monday, consumer discretionary shares fell by 2.1%.

Top Headline

The Chicago PMI climbed to 47.6 in March from 45.5 in the previous month and topping market estimates of 45.2.

Equities Trading UP

iCoreConnect Inc. ICCT shares shot up 148% to $0.6972.
Shares of Corcept Therapeutics Incorporated CORTgot a boost, surging 83% to $100.17 after the company announced it met its primary endpoint for its Phase 3 ROSELLA trial of Relacorilant.
Newton Golf Company NWTG shares were also up, gaining 55% to $2.3401.

Equities Trading DOWN

Damon Inc. DMN shares dropped 52% to $0.0163.
Shares of Vaxcyte, Inc. PCVX were down 53% to $32.55 after the company provided updates on the pneumococcal conjugate vaccine.
NewGenIvf Group Limited NIVF was down, falling 37% to $0.5950 after the company announced it has terminated its proposed reverse merger with European Wellness.

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Commodities

In commodity news, oil traded up 1.5% to $70.41 while gold traded up 1% at $3,146.50.

Silver traded down 0.7% to $34.58 on Monday, while copper fell 2% to $5.0275.

Euro zone

European shares were lower today. The eurozone's STOXX 600 declined 1.5%, Germany's DAX 40 fell 1.5% and France's CAC 40 declined 1.5%. Spain's IBEX 35 Index fell 1.5%, while London's FTSE 100 fell 1%.

Asia Pacific Markets

Asian markets closed lower on Monday, with Japan's Nikkei 225 falling 4.05%, China's Shanghai Composite Index declining 0.46% and Hong Kong's Hang Seng Index dipping 1.31%.

Economics

The Chicago PMI climbed to 47.6 in March from 45.5 in the previous month and topping market estimates of 45.2.

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