On April 2, 2025, major U.S. stock indices experienced a downturn, with the S&P 500 (SPY) closing down 4.84%, the Nasdaq-100 (QQQ) declining by 5.97%, and the Dow Jones Industrial Average (DIA) falling 3.98%. The Russell 2000 (IWM) also saw a significant drop of 6.59%. The market opened on April 3, 2025, with the SPY down 3.41% and QQQ down 3.98%. By the end of the day, the SPY had decreased by 4.84%, while the QQQ fell by 5.97%. Analysts noted that the SPY was testing a critical support level at 540, and a buildup of negative gamma was observed, indicating potential sell pressure on any price bounce. The SPX hovered around 5670, facing resistance at 5700 and support at 5640, suggesting a tight trading range unless these levels were breached.