Hardest Hit And Who Is Holding Up On The S&P 500
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U.S. News & World Report |
Asian shares slid further Friday after U.S. President Donald Trump’s tariffs sent shudders through Wall Street at a level of shock unseen since the COVID-19 pandemic pummeled world markets in 2020
CNN |
Global markets on Thursday were severely rattled by President Donald Trump’s historic tariff announcement, which threatens to throw the US and the rest of the world into a recession.
AOL |
"Others have maybe learned their lessons (from Trump's last term). They are fighting back and saying we can play the same game as you and we are more in a position of strength to negotiate."
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The S&P 500 declined 0.3% on Thursday, March 27, after the White House announced a 25% tariff on auto imports will take effect next week.
Auto tariffs are set to take effect on April 3. Mizuho Americas director and senior analyst David Bellinger joins Asking for a Trend to discuss the impact of tariffs on auto parts and some of his auto stock picks.
Among auto parts retailers, O’Reilly Automotive climbed 2.8%, and AutoZone gained 3.7% ... but not in the United States, so any impact from the tariffs announcement would be an indirect one.
General Motors sank 6.8 per cent for one of the market's sharper losses after Trump announced 25 per cent tariffs on imported cars. Ford Motor dropped 2.2 per cent.
Hertz and Avis shares surged as Trump's proposed 25% auto tariffs raise car prices, boosting rental demand. Auto parts firms gain, while automakers face losses.
Wall Street is getting pulled in different directions as President Donald Trump’s latest tariff escalation pushes some automakers downward, while encouraging data on the economy helps support the market.