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QUOTES-Wall Street sells off as tariff policy, tech concerns mount
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QUOTES-Wall Street sells off as tariff policy, tech concerns mount
Mar 6, 2025 11:52 AM

NEW YORK, March 6 (Reuters) -

Major U.S. stock indexes declined sharply on Thursday with

investors concerned about the impact President Donald Trump's

trade policy may have on companies and the broader economy,

while Marvell Technology's ( MRVL ) revenue forecast sparked

concerns about spending on artificial intelligence

infrastructure.

Below are investor comments about the selloff, which saw the

S&P 500 fall below its 200-day moving average for the

first time since November 1, 2023.

ART HOGAN, B. RILEY, MARKET STRATEGIST, BOSTON

"The administration seems to be trying to play a ping pong

game by announcing something and then pulling it back on

tariffs, but this time it's not working. People reacted to

Howard Lutnick's attempt to calm the markets with distrust.

Clearly, there are signs of a slowdown ahead of any tariffs

really digging in and faced with uncertainty, consumers,

corporate leaders and investors are all going to freeze and put

off longer-term business plans."

"At this point, there's nothing left to give the market a

boost now that the excitement of electing a president who was

seen as pro-business has worn off."

SAM STOVALL, MARKET STRATEGIST, CFRA, ALLENTOWN,

PENNSYLVANIA

"The longer that these tariffs remain in place, the lower

that the market is likely to go because of the increasing threat

of inflation and recession."

"To make markets feel good, it would have to be a more broad

based and more sweeping lift of the tariffs, not just individual

sectors, such as automakers."

"Marvell ( MRVL ) earnings is also causing investors to

think the AI-trade is slowing down, and it's time to take

profits now that we can. The combination of tariffs and

technology has been explosive for stock prices."

BILL STERLING, GLOBAL STRATEGIST, GW&K INVESTMENT

MANAGEMENT, BOSTON

"A continuation of this on-again, off-again with tariffs

particularly with Mexico and Canada (is what is creating

uncertainty in markets)."

"The rational economic response to business leaders when

there's such a high degree of uncertainty is to sit on their

hands and just defer making decisions."

"The other is simply the size of the tariffs. This is way

beyond what was experienced in 2018 with the you know so-called

China trade war and this could raise inflation, which is what

the Fed cares most about, by a full percentage point or a little

bit more over the next year."

BRIAN JACOBSEN, CHIEF ECONOMIST, ANNEX WEALTH MANAGEMENT,

MENOMONEE FALLS, WISCONSIN

"On-again, off-again tariffs may be worse than just getting

the tariffs done with. The uncertainty isn't resolved, it's just

prolonged. Businesses will still try to hike prices just in

case. Consumers may be more willing to accept price increases

because they're afraid of how much higher prices could go. It's

not a healthy dynamic. The Fed isn't in a position to run to the

rescue."

CAROL SCHLEIF, CHIEF MARKET STRATEGIST, BMO PRIVATE WEALTH,

MINNEAPOLIS, MINNESOTA

"A combo of things has come spilling out the worry closet

this week - tariffs started it (their actual imposition) and it

continues given the flip flopping. Businesses are having a tough

time adjusting and the data out recently - including this week -

show. Sentiment (business and consumer) is down, inventories way

up, job losses are mounting, and commentary from the Fed's beige

book all indicate business is having a tough time planning and

consumers are concerned."

"Recent tech earnings reports are still making investors

question how much longer the data center build-out goes on, even

as excitement grows in use cases by more (and smaller)

businesses."

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