US Housing Permits Surge Amid Economic Downgrade and Stock Market Plunge

On March 18, 2025, US building permits slightly exceeded expectations at 1.456M, surpassing the forecast of 1.453M and indicating potential resilience in the housing sector. However, Fitch Ratings downgraded the US 2025 growth forecast to 1.7% from 2.1%, reflecting concerns over economic slowdown. This news contributed to downward pressure on US stock indices, with the S&P 500 falling 1.07%, the Dow Jones Industrial Average declining 0.62%, and the Nasdaq Composite dropping 1.71%.

In today's market, the technology, communication services, and consumer goods sectors underperformed the S&P 500. Conversely, the healthcare and energy sectors bucked the trend and saw gains.

Today, several major tech and tech-related companies experienced significant declines in their stock prices. Nvidia's stock dropped by 3.43%, following its annual GTC event, which failed to impress investors, contributing to the stock's decline. Meta's stock also saw a decline of 3.73%, as analysts downgraded the company amid a broader tech sector sell-off. Tesla's stock price fell by 5.34%, due to production issues at its Gigafactory in Berlin. Alibaba Group's stock dropped by 3.27%, negatively impacted by regulatory pressures in China.

FST's stock price surged by over 300%, marking a significant rise in the company's market value. Aditxt's stock rose by nearly 72%, driven by promising advancements in their AditxtScore applications, which have significantly boosted investor confidence. AirNet Technology's stock dropped by over 60%, as the company faces scrutiny for not meeting Nasdaq's minimum bid price requirement, indicating ongoing financial struggles. Avenue Therapeutics Inc’s share price dropped by over 50%, with its stock trading at $0.42, and its GF Value at $0, suggesting overvaluation and potential decline.

Morgan Stanley plans to lay off approximately 2,000 employees later in March, signaling potential concerns in the financial sector. The US API reported a crude oil stock change of 4.593 million barrels, significantly higher than forecasted, which could impact energy market dynamics. Tesla's stock fell more than 5%, contributing to a broader decline in the Nasdaq, which fell over 1% amid concerns over tech sector valuations. Additionally, NVIDIA faced a 3% stock loss during their CEO's speech, reflecting market reactions to the company's announcements and potential competitive pressures in the AI chip industry.