The March 2025 U.S. jobs report delivered a major upside surprise, with non-farm payrolls rising by 228K versus the expected 135K. Full-time employmen
The March 2025 U.S. jobs report delivered a major upside surprise, with non-farm payrolls rising by 228K versus the expected 135K. Full-time employment rebounded strongly by 459K after a previous monthly decline, while private sector hiring posted a solid 209K gain. Despite the strength in labor markets, investor sentiment failed to improve. Markets are still pricing in more than five Fed rate cuts in 2025, but equities are diverging from the macro data, with selling pressure accelerating across the board.
Nasdaq Sees Historic Weekly Loss
The Nasdaq Index collapsed 8% on Friday alone, dragging the total weekly loss to nearly 10%. This marks the worst performance for the tech-heavy index since the COVID crash in 2020. The broader selloff was led by weakness in technology and semiconductor stocks, as traders moved to reduce risk amid increasing political and trade tensions.
Nvidia Chart Monthly – Closing below the 20 SMA
Nvidia (NVDA), one of the market leaders in 2024’s AI boom, opened the week with a steep downside gap and dropped over 5% on Monday. Although sentiment briefly improved midweek, a strong bearish reversal on Wednesday drove the price back down below $100, from last week’s $110 close.
NVDA has now fallen over 40% from its January peak of $153, forming a clear downtrend with lower highs. With the August 2024 low near $90 as the next major support, traders are watching closely to see if the decline continues into next week.
AMD Drops Nearly 17% on China Exposure Fears
Advanced Micro Devices (AMD) was another major casualty, falling 16.6% over the week. Despite semiconductors not being directly targeted by the April 2 trade tariffs, the possibility of future restrictions unnerved investors. AMD’s business is heavily tied to Chinese demand, which makes it vulnerable in the current trade environment. The stock opened the week with a gap lower and closed Friday at $85.76, down from $102.96. That places AMD down 26% for the year and a massive 63% below its all-time high of $228 set in April 2024.
This was the worst week for all major US indices since the 2020 pandemic crash, driven by rising trade tensions, tech sector weakness, and investor fear of prolonged tariff impacts. Market sentiment remains fragile heading into next week.
www.fxleaders.com