Stock Market Turmoil: Dow Futures Plunge 500 Points as Tesla, Nvidia, and GM Slide
U.S. stock futures fell sharply on Monday morning, with Dow futures sinking around 500 points, signaling a rough start to the trading week. Investors reacted to fresh tariff tensions, corporate earnings uncertainty, and broader market volatility, leading to steep declines in several major stocks, including Tesla (NASDAQ: TSLA), General Motors (NYSE: GM), and Nvidia (NASDAQ: NVDA).
Tesla Takes a Hit Amid Tariff Concerns
Tesla shares tumbled 2.4% to $394.80 in pre-market trading after former Tesla executive Rohan Patel criticized Donald Trump’s plan to impose new tariffs on Mexico, Canada, and China—a move that could disrupt global supply chains. The 25% tariff on Mexican and Canadian goods and the 10% tariff on Chinese imports could significantly impact Tesla’s cost structure, particularly its battery supply and EV production costs.
General Motors and Nvidia Face Pressure
General Motors (GM) also suffered a 6.5% drop to $46.25, reflecting broader concerns over supply chain disruptions and rising manufacturing costs tied to the tariff announcements. Meanwhile, Nvidia (NVDA) slipped 2.3% to $117.31 in early trading, extending losses from last week’s sharp decline after Chinese AI startup DeepSeek revealed a low-cost AI model that could challenge Nvidia’s premium pricing strategy in the GPU market.
Biggest Losers in Pre-Market Trading
Several other notable stocks saw significant declines before the opening bell:
- Unisys Corporation (NYSE: UIS): Down 18.8% to $5.41 ahead of its Q4 earnings report on February 18.
- AleAnna, Inc. (NASDAQ: ANNA): Fell 13.9% to $10.01 after Friday’s slight gains.
- Torrid Holdings Inc. (NYSE: CURV): Dropped 11.6% to $6.24, reversing a 5% gain on Friday.
- Bausch Health Companies Inc. (NYSE: BHC): Declined 10.5% to $6.65.
- Bitdeer Technologies Group (NASDAQ: BTDR): Down 8.1% to $17.03 following a rough week for crypto-related stocks.
- Cipher Mining Inc. (NASDAQ: CIFR): Slipped 7.5% to $5.30, after Friday’s 22% surge on news of a $50 million Softbank investment.
- Hut 8 Corp. (NASDAQ: HUT): Fell 7% to $20.17, tracking broader weakness in the cryptocurrency sector.
- ImmunityBio, Inc. (NASDAQ: IBRX): Dropped 6.7% to $3.22 despite last week’s announcement of a Phase 3 trial collaboration with BioGene.
- Kornit Digital Ltd. (NASDAQ: KRNT): Declined 6.7% to $27.10, ahead of its Q4 earnings release on February 12.
- Lionsgate Studios Corp. (NASDAQ: LION): Fell 5.2% to $6.80 in pre-market trading.
Investor Sentiment Remains Cautious
As markets brace for further volatility, investors are closely watching for updates on trade policies, earnings reports, and economic indicators that could shape the next market move. Stay tuned for real-time updates as Wall Street reacts to the latest developments.
