Dow Jones, S&P 500 & Nasdaq Fall: March Starts Rough Amid Oil & Jobs Data

“Employers are pausing before hiring the next person to ask themselves: what skills do we need and how can technology complement them?” Schmid added.

Chris Waller, governor of the Federal Reserve, noted that if the February employment report had been positive, he would have shifted his stance and preferred to keep interest rates stable given the prospect of a recovering labor market. However, given the weaker result, he is likely to maintain his inclination to cut rates.

Among other economic data released were January monthly retail sales at -0.2% versus an expected -0.3%, January underlying monthly retail sales at 0.0% versus an expected 0.1%, the February U6 unemployment rate at 7.9% versus 8.1% previously, and the February labor force participation rate at 62.0% versus 62.1% previously.

Among the winning stocks were Marvell Tech (+18.35% to $89.57), CF Industries Hl (+4.50% to $115.77) and Boeing Co (+4.07% to $231.10)

Marvell rose following analysts’ bets on growing demand for its chips, as we noted earlier today.

CF Industries rose following a sale of shares by former president and CEO Will W. Anthony, who sold 64,273 ordinary shares on March 3, as reported in a Form 4 filing with the U.S. Securities and Exchange Commission (SEC), according to Investing.

The sales, executed in two separate transactions, totaled approximately $7,009,894.

The first transaction involved the sale of 30,407 shares at a weighted average price of $108.78, with prices ranging from $108.50 to $108.99. The second transaction involved the sale of 33,866 shares at a weighted average price of $109.31, with prices ranging from $109.00 to $109.54. Following these transactions, Anthony directly owns 194,010 shares.

Boeing rose after announcing it is close to finalizing one of its largest sales agreements in history, a potential order for 500 737 Max aircraft expected to be announced during President Trump’s state visit to China, according to a report by Bloomberg published Friday and shared by Investing.

Both parties are also reportedly discussing a sale of wide-body aircraft involving approximately 100 Boeing 787 Dreamliner and 777X jets. A deal for the twin-aisle aircraft is likely to be announced at a later date and is not expected to be part of the upcoming summit.

Among the losing stocks were Old Dominion Fre (-7.90% to $194.03), Teradyne (-10.66% to $273) and Caterpillar(-3.57% to $680.90)

Old Dominion’s decline was attributed to several economic factors, including the weak labor market data, rising oil prices, and the overall market and transportation index decline, according to Investors.

Teradyne fell following a recent downgrade by Wall Street analysts who warned that the price has risen too quickly and reflects much of its growth, often leading to quick sales from institutional and individual investors, according to Quiver Quantitative.

Notably:

• UBS AM, a distinct business unit of UBS Asset Management Americas LLC, sold 4,142,744 shares (-72.5%) of its portfolio in the fourth quarter of 2025, with an estimated value of $801,869,528

• Wellington Management Group LLP sold 1,971,740 shares (-96.8%) of its portfolio in the fourth quarter of 2025, with an estimated value of $381,649,994

• Primecap Management CO/CA/ sold 1,834,698 shares (-71.9%) of its portfolio in the fourth quarter of 2025, with an estimated value of $355,124,144

• VanEck Associates Corp sold 1,715,143 shares (-42.9%) of its portfolio in the fourth quarter of 2025, with an estimated value of $355,124,144

Caterpillar’s decline was linked to ongoing tensions in the Middle East amid fears of economic slowdown and inflation.

WTI futures rose +12.73% to $91.32 and Brent +8.71% to $92.85

Gold rose +1.93% to $5,176 per ounce and Silver +2.75% to $84.43

The EURUSD pair rose +0.06% to 1.1615.

Bitcoin fell -4.23% to $68,119.

The yield on the 10-year U.S. Treasury fell -0.19% to 4.140 and the 30-year rose +0.34% to 4.769.

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