Market Wrap | Trump Calls for Rate Cut as Markets Tumble

On June 13, 2025, the S&P 500 Index fell by 1.13%, the Dow Jones Industrial Average dropped by 1.79%, and the Nasdaq Composite Index declined by 1.30%. This market downturn comes as President Trump called for the Federal Reserve to lower interest rates by at least one percentage point on June 12, citing the potential benefits of reduced debt interest payments. This move highlights ongoing pressure on the Fed amid concerns about economic growth, potentially influencing market volatility and investor sentiment.

In today's market, the technology, consumer staples, materials, and financial sectors underperformed the S&P 500. Conversely, the energy sector bucked the trend and saw gains.

Oracle shares surged by 7.95% today, driven by the company's projection of "dramatically higher" revenue growth. This optimistic outlook prompted analysts to significantly raise their price targets for the tech giant, reflecting a strong market response to Oracle's forward-looking statements.

Robinhood Markets Inc. shares surged over 330%, driven by geopolitical tensions between Israel and Iran. The company's stock price soared as investors sought safe-haven assets amidst the escalating conflict. OceanPal Inc. demonstrated strong momentum, rising over 157% in total. The shipping company's shares gained 28.57% in the after-hours session, continuing today's gain of 123%. SharpLink Gaming Ltd. shares plummeted over 71%, due to investor confusion over a large resale filing. The sudden drop in share price reflects the market's uncertainty surrounding the company's future prospects. Senmiao Technology Ltd. shares declined over 63%, as investor sentiment waned due to market volatility and strategic uncertainties. The company's stock price has been under pressure in recent weeks, as investors grapple with the impact of geopolitical tensions and regulatory changes on the industry.

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