Investors have few places to hide in Thursday’s big sell-off, but if they’re careful they may be able to spot some safe opportunities for portfolio income. The rollout of President Donald Trump’s tariffs , which includes 20% rates on the European Union and a 46% duty on Vietnam, sent stocks into a tailspin . The Dow Jones Industrial Average tanked more than 1,600 points, while the S & P 500 dropped 4.8%. Both indexes posted their worst day since 2020. Advisors are unanimous, however, that now isn’t the time for investors to dump stocks and head for the hills .…
Author: usaeverydaylife
A trader is comforted by a coworker as they work on the floor of the New York Stock Exchange, March 1, 2018.Eduardo Munoz Alvarez / Getty ImagesThe Magnificent Seven stocks collectively lost more than $1 trillion in Thursday trading, a stunning milestone that underscores how President Donald Trump’s tariff rollout crippled financial markets.Taken together, the seven megacap technology stocks that comprise the closely followed index lost around $1.03 trillion in market cap, according to a CNBC analysis of Thursday’s session. As a whole, CNBC’s Magnificent Seven index tumbled more than 6% in the trading day.Technology stocks led a broad and…
President Trump announced what could be one of the most dramatic economic policy changes in decades on Wednesday, when he substituted America’s longstanding system of taxing imports with a new tariff system of his own devising.The president said the tariffs would reverse decades of unfair treatment by the rest of the world and result in factories and jobs moving back to the United States.“The markets are going to boom” and “the country is going to boom,” Mr. Trump said on Thursday, as global financial markets suffered their biggest rout in years. He added that other countries “have taken advantage of…
Key PointsThe leaders of corporate America think the tariff policies announced by President Donald Trump on Wednesday went too far and will hurt the U.S. economy, according to Altimeter Capital CEO Brad Gerstner.”I talked to probably 10 CEOs who are all in the Business Roundtable — these are CEOs of the largest companies in America — overnight, and [they all] think this is a huge mistake,” said Gerstner.Gerstner did not specify who exactly he spoke to, but the members of the Business Roundtable include the CEOs of the biggest companies from multiple industries, including firms such as Apple, Bank of…
Fintech is seen on the floor of the New York Stock Exchange on Feb. 13, 2025. Danielle DeVries | CNBCThe global market rout on Thursday, sparked by President Donald Trump’s announcement of widespread tariffs, had an outsized impact on fintech companies and credit card issuers that are closely tied to consumer spending and credit.Affirm, which offers buy now, pay later purchasing options, plunged 19%, while stock trading app Robinhood slid 10% and payments company PayPal fell 8%. American Express and Capital One each tumbled 10%, and Discover was down more than 8%.President Trump on Wednesday laid out the U.S. “reciprocal tariff” rates…
Apple CEO Tim Cook, center, watches during the inauguration ceremonies for President Donald Trump, right, and Vice President JD Vance, left, in the rotunda of the U.S. Capitol in Washington, Jan. 20, 2025.Shawn Thew | Afp | Getty ImagesIn the past few years, Apple has sold Americans iPhones made in India, AirPods from Vietnam and Mac desktops assembled in Malaysia. It was part of a strategy by Apple to diversify its manufacturing from China. Apple employed the strategy as a hedge for its supply chain after the company dealt with tariffs by the first Trump administration, supply chain issues tied to…
Before breakfast, a quick stop at the driving range.It may seem trivial that hitting a bucket of balls was Jon Scheyer’s priority on the last morning of Cooper Flagg’s official visit to Duke — Oct. 22, 2023. But the coach wanted one final one-on-one window with the nation’s No. 1 recruit, and he’d come to learn how much the Newport, Maine, native appreciated golf. In fact, amid Flagg’s meteoric rise to becoming arguably the top NBA prospect in America, the high schooler often found reprieve in playing 18 at Fogg Brook Resort, the local course near his childhood home.Scheyer came…
Boxes of Novo Nordisk’s weight-loss drug Wegovy in Oslo, Norway, Nov. 21, 2023.Victoria Klesty | ReutersPharmaceutical companies breathed a sigh of relief Wednesday after U.S. President Donald Trump revealed that they would not be subject to reciprocal tariffs — but that reprieve could prove fleeting as the White House moves ahead with plans for the sector.The Trump administration is considering launching a so-called 232 investigation into pharmaceuticals, among other industries, which could lead to import duties under the Trade Expansion Act.”The pharmaceutical companies are going to come roaring back, they are coming roaring back, they are all coming back to…
Chip stocks tumbled Thursday despite what looked like good news on the tariff front. The plans President Donald Trump unveiled Wednesday exempted semiconductors. At first blush, the announcement suggests companies will escape substantial levies such as Taiwan’s hefty 32% rate, but investors aren’t buying the optimism. Nvidia shares shed nearly 7%, bringing its year-to-date decline to almost 24%. Micron cratered 14%, Broadcom was down about 9%, while Taiwan Semiconductor Manufacturing tumbled more than 6%. The market’s negative reaction stems from several factors. First, semiconductor-specific tariffs remain on the horizon; they’ve just been kicked down the road to be addressed separately.…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: It’s an ugly day for Wall Street as the Trump administration’s highly anticipated tariff plan proved to be more aggressive and widespread than the market anticipated. It’s a day of s weeping price-to-earnings (P/E) multiple compression across the stock market because investors are struggling to accurately forecast what companies will earn in a slowing growth environment with tariffs eating into a chunk of their profits. That’s a key dynamic playing…
