Closing Bell | U.S. Markets Decline, Lululemon Drops Over 14%, Wolfspeed Plummets 51%

Market Watcher03-29

On March 28, 2025, U.S. markets closed with significant declines. The broader market was impacted by rising core inflation and falling consumer sentiment, leading to sharp drops across various sectors.

Sector-wise, the U.S. semiconductor stocks experienced a downturn, with NVIDIA falling 1.58% due to concerns over its business in China and the disappointing IPO of CoreWeave, a company closely tied to Nvidia. Additionally, the ChatGPT-related stocks saw declines, including Palantir Technologies Inc., which dropped 4.71% despite announcing a strategic partnership with Everfox to enhance its AI capabilities.

In individual stock movements, Lululemon Athletica plunged 14.19% after reporting earnings that exceeded expectations but issuing cautious fiscal-year guidance. Multiple financial institutions also adjusted their price targets downward, reflecting concerns over the company's future performance. Wolfspeed Inc. suffered a dramatic 51.86% drop, marking a 27-year low, as the appointment of a new CEO raised market concerns.

Tesla Motors declined 3.51%, influenced by consumer sentiment data and tariffs announced by former President Donald Trump on cars manufactured outside the U.S. Meanwhile, Meta Platforms, Inc. fell 4.29%, despite Evercore ISI reiterating a buy rating, citing government-driven volatility as an opportunity for investors.

On the positive side, AppLovin Corporation rose 4.08%, recovering some losses after a short-seller report.

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Additionally, the ChatGPT-related stocks saw declines, including Palantir Technologies Inc., which dropped 4.71% despite announcing a strategic partnership with Everfox to enhance its AI capabilities.  In individual stock movements, Lululemon Athletica plunged 14.19% after reporting earnings that exceeded expectations but issuing cautious fiscal-year guidance. Multiple financial institutions also adjusted their price targets downward, reflecting concerns over the company's future performance. Wolfspeed Inc. suffered a dramatic 51.86% drop, marking a 27-year low, as the appointment of a new CEO raised market concerns.  Tesla Motors declined 3.51%, influenced by consumer sentiment data and tariffs announced by former President Donald Trump on cars manufactured outside the U.S. Meanwhile, Meta Platforms, Inc. fell 4.29%, despite Evercore ISI reiterating a buy rating, citing government-driven volatility as an opportunity for investors.  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