Stock Market Today (Live): Vanguard Total Stock Market (VTI) Down 3%

By Rich Duprey Updated Apr 10, 1:34PM EDT · Published Apr 10, 9:31AM EDT

24/7 Wall St. Insights:

The stock market surged higher yesterday following President Trump’s 90-day tariff pause, but now stocks are taking a breather.
The Vanguard Total Stock Market ETF (VTI) is down 2.9% in premarket trading Thursday morning.
Because Magnificent 7 stocks hold sway over the ETF’s performance, their moves today will influence how it trades today.

Live Updates

European Stocks Up While US Markets Struggle

Apr 10, 2025 at 1:34 PM EDT | Joel South

European stocks closed up 3.7% today and was the Stoxx 600’s best session in three years, driven by Trump’s 90-day tariff reduction to 10% for most trade partners, while the euro hit a seven-month high against a weakening dollar.

In contrast, U.S. markets resumed a sell-off, with the SPY (tracking the S&P 500) dropping about 5.6% by 1:31 PM today, reversing Wednesday’s 9% rally, as growth concerns outweighed tariff relief.

Market Giving Back Yesterday's Gains

Apr 10, 2025 at 12:06 PM EDT | Joel South

Even with a 90-day tariff pause, the trade war rages on, dragging stocks lower as the afternoon looms. Tariffs still biting: 145% on Chinese goods, 25% on aluminum, autos, and non-USMCA Canada/Mexico imports, plus a 10% catch-all levy. Markets are sinking—S&P 500 off 4.18%, Dow down 2.27%, Nasdaq sliding 4.75%.

Markets in Free Fall This Morning

Apr 10, 2025 at 10:44 AM EDT | Joel South

Stocks are stumbling as China retaliates with 84% tariffs on U.S. goods, countering Trump’s 125% duties on Chinese products. The S&P 500 is off 2.64%, the Nasdaq Composite tumbles 3.72%, and the Dow declines 2.11% by 10:40 a.m

Inflation Drops Two Months In a Row

Apr 10, 2025 at 10:05 AM EDT | Joel South

March CPI data shows inflation dipping to 2.4%, just below the expected 2.5%. Core CPI dropped to 2.8%, under the 3% forecast. Despite two months of declining Core CPI, tariffs and inventory restocking may push numbers up soon.

After yesterday’s massive rally that saw the stock market add $5.5 trillion in value after President Trump paused for 90 days his sweeping tariff program, stocks look like they will take a breather today. The Vanguard Total Stock Market ETF (NYSEARCA:VTI | VTI Price Prediction) is down 2.9% in premarket trading Thursday.

Although Treasury Secretary Scott Bessent said the tariff pause was part of Trump’s “strategy all along” as it was meant to give the president strong leverage in negotiations, some analysts believe it may have had more to do with the bond market crashing.

An unfolding yield crisis

10-year Treasury yields had shot higher this week, an atypical reaction to falling stock prices as bonds and stocks usually have an inverse relationship. The rising yields suggested bondholders like China and Japan, the two largest holders of Treasuries, were dumping them.

That eroded confidence in U.S. debt as a safe harbor, and in the dollar. Equally bad, it could have undermined Trump’s economic agenda. Many suspect Trump was willing to crash the market to bring bond yields lower, which would reduce interest payments on the federal government’s $35 trillion worth of debt. But the opposite happened.

While the tariff pause is helping bonds recover, the crisis is not fully over, which may be why the stock market is down this morning.

Magnificent 7 continue to dominate

The Vanguard Total Stock Market ETF tracks the CRSP US Total Market Index, which includes over 3,600 stocks across large-, mid-, small-, and micro-cap companies listed on the NYSE and Nasdaq. Its goal is to mirror the performance of the U.S. equity universe, weighted by market capitalization.

Its largest holdings are in the technology sector, with Apple (NASDAQ: AAPL) being the biggest at 6.4% of the portfolio. It raced 15% higher yesterday, regaining its crown as the world’s most valuable stock, but is down 4.1% ahead of the morning bell.

Microsoft (NASDAQ:MSFT) is the second biggest position in VTI at 5.1%. It jumped 10% yesterday, but is off 1.4% this morning. Similarly, the third-largest holding, Nvidia (NASDAQ:NVDA), rallied hard yesterday, up nearly 19%, but this morning it is down 3.4% premarket.

It’s noteworthy, because just as the Magnificent 7 stocks account for nearly 28% of the value of the S&P 500, and were responsible for nearly 30% of yesterday’ market gains, their market cap weighting in VTI has an oversized impact on the ETF’s performance as well. The six largest positions in VTI are Magnificent 7 stocks. Tesla (NASDAQ:TSLA) is the 10th biggest holding. Its stock was up over 22% yesterday, but is falling 3.6% this morning.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

About the Author Rich Duprey →

After two decades of patrolling the dark corners of suburbia as a police officer, Rich Duprey hung up his badge and gun to begin writing full time about stocks and investing. For the past 20 years he’s been cruising the markets looking for companies to lock up as long-term holdings in a portfolio while writing extensively on the broad sectors of consumer goods, technology, and industrials. Because his experience isn’t from the typical financial analyst track, Rich is able to break down complex topics into understandable and useful action points for the average investor. His writings have appeared on The Motley Fool, InvestorPlace, Yahoo! Finance, and Money Morning. He has been interviewed for both U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, and USA Today.