Stock Market 1 March 2026

Markets declined sharply after the Federal Reserve kept interest rates steady but signaled that rate hikes could return, with new projections indicating a higher median federal funds rate of 3.8% for 2026, up from 3.4% in March. The S&P 500 dropped 1.2%, the Nasdaq fell 1.3%, and the Dow lost over 500 points. Rate-sensitive sectors and companies were hit hard: mining stocks on the ASX 200 slid, and U.S. precious-metals miners like Coeur Mining dropped despite upcoming index inclusion. Tech stocks also suffered, with Microsoft falling 3.8% and Meta down 5.5%, the latter also impacted by the departure of a key executive linked to AI projects. ServiceNow and SpaceX each lost about 5%, with SpaceX falling behind Amazon in market value. Auto stocks, including Ford, General Motors, Stellantis, and Tesla, declined as well. In contrast, Intel shares rose 3.5% after progress in its 18A-P manufacturing process and a price target increase from Bernstein, though the rating remained neutral. Vertiv outperformed with a 7% gain, and Nebius Group spiked after acquiring Eigen AI and ahead of joining the Nasdaq-100. MP Materials rose 9% following G7 and Pentagon support for critical minerals, while Coupang jumped 8.3% despite announcing a large privacy fine. Nokia shares were mixed, with a slight gain in Helsinki but a drop in U.S. trading, as the company highlighted plans to expand U.S. AI infrastructure. Rocket Companies fell 6% as housing stocks remained pressured by the Fed’s stance. The Canadian market was stronger, with TD hitting a 52-week high and the S&P/TSX Composite also reaching a record.