• Mon, March 10, 2025

by: FXStreet

Stocks spiral after Trump admits to 'period of transition' in US economy, but Amgen, Verizon outperform

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  • Tue, March 11, 2025

by: Reuters

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As of Mar 11th, 2025, there has been substantial selling of in recent trading

Stocks spiral after Trump admits to 'period of transition' in US economy, but Amgen, Verizon outperform

That doesn't mean, however, that Amgen stock is ready for a reversal. It may in fact mean that the market views AMGN as a point of safety in the current storm of uncertainty. But AMGN is trading near $335 and must overcome prior resistance near $340 if it means for this rally to continue. Shares are already up over 28% year to date.
The article from FXStreet discusses the volatile reaction in the U.S. stock market following President Trump's acknowledgment of a "period of transition" in the U.S. economy. This statement led to a significant drop in stock prices as investors grappled with the implications of potential economic shifts. However, amidst the general market downturn, certain stocks like Amgen and Verizon managed to outperform expectations. Amgen, a biotechnology company, saw gains possibly due to positive developments in its drug pipeline or other corporate news, while Verizon, a telecommunications giant, also performed well, likely buoyed by its stable earnings and essential service status during economic uncertainty. The article highlights the contrast between the broader market's reaction to Trump's comments and the resilience or positive developments in specific sectors.

Read the Full FXStreet Article at:
https://www.fxstreet.com/news/stocks-spiral-after-trump-admits-to-period-of-transition-in-us-economy-but-amgen-verizon-outperform-202503101526

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