Check out the companies making headlines in midday trading: Bank stocks — Major banks declined on Friday, as President Donald Trump’s new tariff policies increasingly raised fears of a U.S. economic pullback. Shares of JPMorgan , Morgan Stanley and Wells Fargo each tumbled more than 7%. about 8%. Goldman Sachs and Citigroup declined by about 7.8% and 7.9%, respectively. Tesla , Palantir Technologies — Top picks among retail investors were not able to buck Friday’s sell-off. Electric vehicle maker Tesla dropped 10.4%, while defense technology stock Palantir tumbled 11.5%. Property stocks — Real estate stocks Prologis and Simon Property Group slipped by about 3.3% and 4.7%, respectively, on Friday. Property stocks are sensitive to consumers’ discretionary spending levels. Apple — Shares of the iPhone maker slid 7.3% on China’s retaliatory duties against the U.S. China makes up for about 80% of Apple’s production capacity with about 90% of iPhones assembled in the country, according to Evercore ISI estimates. China funds — China-focused exchange-traded funds fell after the country’s finance ministry announced a 34% tariff on U.S. imports beginning April 10, in response to the Trump administration’s cumulative 54% duty on Chinese goods. The KraneShares CSI China Internet ETF (KWEB) declined more than 9%, while the iShares MSCI China ETF (MCHI) and the iShares China Large-Cap ETF (FXI) dropped 6.8% each. Chipmakers — Semiconductor stocks with notable exposure to China slipped. Shares of Marvell Technology fell about 11.2%, while Intel lost 11.5%. Nvidia and Broadcom shares lost 7.4% and 5%, respectively. Manufacturing stocks — Shares of farm and construction equipment manufacturers declined amid the latest tariff updates. Deere and CNH Industrial dropped 3.9% and 4.9%, respectively, while Caterpillar fell 5.8%. UBS analyst Steven Fisher said in a note to clients that “the trade dynamics are a headwind to the ag sector and to farm machinery companies, as farmers tend to prefer free trade, rather than rely on government payments.” Boeing , GE Aerospace — Boeing slid by 9.5%, and GE Aerospace plunged 16.5%. Trump’s raft of tariffs threaten to drive the cost of aircraft, engines and other aerospace products higher. Shell — Shares of the London-based energy company lost 8% after Trump’s tariffs led U.S. oil prices to drop to their lowest level since 2021 this week. Casino stocks — Casino operators in Macao declined on Friday. Shares of Las Vegas Sands slipped about 8.4%, while Wynn Resorts and MGM Resorts International each declined by more than 3.5%. — CNBC’s Alex Harring, Sean Conlon, Lisa Han and Hakyung Kim contributed reporting.
Add A Comment
About Us
Our finance blog is your go-to resource for expert financial advice, covering everything from personal budgeting and saving strategies to smart investing and market analysis. Stay updated with the latest trends, tips, and insights to help you make informed decisions and achieve financial success.
Popular Post
© 2025 Finderica.com – All rights reserved.