business News

Dow drops 1,000 points, S&P 500 loses 3% as stock market rout on Trump's tariffs worsens: Live updates - CNBC

Thursday saw further volatility roil markets in light of Trump's raft of tariffs. The major averages suffered their worst day since 2020.

Newsmax Is the Trumpcession’s Perfect Metaphor - The Bulwark

Let's all celebrate losing money!

Gap, Nike and Levi’s took years to diversify from China. Now sky high tariffs on nations like Vietnam are ruining plans and tanking their stocks - Yahoo Finance

What looked like a safe bet to move manufacturing supply chains out of China is turning out to be a nightmare for many big retail brands.

Trump’s tariffs are ‘a debacle of epic proportions’ for the auto industry - The Verge

The auto industry is in panic mode after President Trump’s 25 percent tariffs in effect. Experts are predicting higher prices out of the gate.

Bank Stocks Fall After Tariff Announcements - WSJ

Bank stocks fell sharply after President Trump unveiled sweeping tariffs that some feared would hurt loan growth and quality.JPMorgan Chase and Bank of America dropped, as did U.S. Bancorp, PNC Financial Services, Truist Financial and Fifth Third. Higher pric…

Stellantis to lay off 900 U.S. workers, pause Canada and Mexico plants as tariffs arrive - The Detroit News

Idling the assembly plants is set to trigger about 900 temporary layoffs at some U.S. powertrain and stamping facilities.

‘Oh really? Oh s—.’ CEO reacts live to tariff-based stock plunge on earnings call - Fortune

Company formerly known as Restoration Hardware ships many products from Asia.

NVIDIA Might Have Lost AI GPU Pricing Power, Says Bank As It Downgrades Stock To Hold - Wccftech

Chip designer NVIDIA might have lost pricing power with its AI GPUs says investment bank as it cuts price target and slashes rating.

Spirits, Swiss Watches, Sneakers: Global Stock-Market Winners and Losers from Tariffs - WSJ

Stellantis idles plants in Mexico and Canada due to tariffs - CNBC

Stellantis said it is pausing production at the automaker's Windsor Assembly Plant in Ontario, Canada, and its Toluca Assembly Plant in Mexico.

HSBC downgrades Nvidia, slashes target as it sees limited upside - Investing.com

HSBC downgrades Nvidia, slashes target as it sees limited upside

Zelle is shutting down its app. Here’s how you can still use the payment service - CNN

Zelle, the popular person-to-person money transferring service, shut down its standalone app Tuesday — but the service itself is not disappearing.

Markets Shudder: Apple Leads Magnificent 7 Big Tech Stocks’ $1 Trillion Crash (Live Updates) - Forbes

The Asia-focused "Liberation Day" tariffs “could blow up Apple,” one analyst noted, as the iPhone maker led a near $900 billion magnificent seven slide.

Eight OPEC+ producers accelerate crude oil output hikes, pushing oil prices 6% lower - CNBC

Eight key OPEC+ producers on Thuesday agreed to raise combined crude oil output by 411,000 barrels per day, pushing down oil prices.

Trump's tariffs — if sustained — likely to push the U.S. and globe into recession, says JPMorgan - CNBC

If implemented, the trade policy will raise the effective U.S. tariff rate to 25%, hurting the U.S. growth and inflation outlook, according to JPMorgan.

Walmart, Target, and Other Retail Stocks Sink as Investors Digest Trump Tariffs - Investopedia

Walmart, Target, and other retail stocks sank Thursday after the Trump administration announced sweeping reciprocal tariffs against U.S. trading partners.

Jobless claims fall to 7-week low, but watch out. Trade wars could hurt U.S. labor market. - MarketWatch

Big surge in unemployment filings for federal workers fails to materialize

TikTok Ban Deadline Near. Trump Eyes 'TikTok America' Plan While Amazon Also Bids: Reports - Investor's Business Daily

As TikTok ban deadline looms, the White House is reportedly close to approving a plan that would let new U.S. investors buy a stake in TikTok.

Apple is getting screwed by Trump's tariffs - Business Insider

Donald Trump's "Liberation Day" tariffs impact some of Apple's key manufacturing hubs, including China.

Treasury Secretary Bessent blames Trump tariff sell-off in markets on deflating AI bubble: ‘That’s a Mag 7 problem, not a MAGA problem’ - Fortune

Bessent appears to be more interested in bringing down borrowing costs than in the $1.5 trillion drop in equities.