Mar 10, 2025 · QQQ/SPY Market Review · 40 headlines
QQQ fell 4.55% and SPY lost 3.01%, leaving QQQ 1.54 percentage points behind. Tariff retaliation and uncertainty, inflation and rate signals, consumer strain, and weaker Tesla demand in China supplied the day's main context.
Published
Ontario imposed a 25% surcharge on electricity exports to several U.S. states. Later, White House adviser Kevin Hassett said tariff uncertainty would clear in April and rejected a recession call after the Nasdaq had fallen 4%.
Fed Governor Adriana Kugler favored holding rates steady because inflation risks remained, while New York Fed one-year inflation expectations edged up to 3.1%. Walmart's chief executive also described household budget pressure and a shift toward smaller pack sizes.
QQQ lagged SPY by 1.54 percentage points. CPCA data showed Tesla's February wholesale sales in China fell 49% year over year and 51% month over month, adding a concrete demand signal for a major technology name.
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