Market Turmoil Deepens as 'Trump Slump' Sparks Sharp Declines

Spot pricing for Gold $AU4635

Spot pricing for Silver $AU52.47

Spot pricing for Platinum $AU1567

The market is experiencing significant turbulence, with major indices and key stocks facing notable declines. Over the past two weeks, the S&P 500 has dropped approximately 10%, falling below its critical 200-day moving average—a technical indicator that often signals potential bearish trends and one we regularly include in our charts below. Similarly, the ASX 200 has mirrored this downturn, slipping beneath its own 200-day moving average and amplifying concerns among investors.

Tesla's stock has been particularly affected, plummeting over 30% over the past month. This sharp decline has erased the gains achieved during the so-called "Trump Bump," with the company's market value shrinking by more than $125 billion. Analysts attribute this downturn to a combination of factors, including a significant slump in sales across China and Europe, largely due to CEO Elon Musk's involvement in the Trump administration and the ensuing trade wars. Additionally, UBS analyst Joseph Spak has reduced his price target for Tesla to $225 and lowered Q1 delivery expectations by over 15%, predicting further challenges ahead despite long-term advancements in AI technology.  

In the face of these market challenges, gold has demonstrated continued resilience, keeping its RSI and great positioning above its 200MDA. 

Adding to the market's unease, President Trump recently threatened to impose additional tariffs on Canadian steel and aluminium imports, only to retract the statement shortly thereafter. This pattern of abrupt policy announcements and reversals has contributed to the prevailing market instability, leading some analysts to dub the current downturn as the "Trump Slump." The unpredictable nature of these policy decisions continues to weigh heavily on investor sentiment, further exacerbating the market's downward trajectory. 

Market Indicators to Watch

• U.S. CPI (Inflation Data) – Scheduled for Today, March 12, 2025, at 11:30 pm AEST, offering insight into price pressures.

Gold daily chart, with 200MDA

Silver daily chart, with 200MDA

US500, with 200MDA

ASX200, with 200MDA