These 5 Stocks Crashed as Tariff Reality Hits the Market
The market's wild recovery on Wednesday afternoon was driven by President Donald Trump temporarily pausing tariff increases on countries all around the world, except China. A 10% blanket tariff will still be in place, but the bigger tariffs that were expected to hit countries like Vietnam, Cambodia, and Indonesia, where many shoes and kids toys are made, will be in place.What seems to have been forgotten in that bounce was that tariffs are still higher than they were at the start of the year and the tariff on imports from China would be an astounding 145%. On top of the baseline tariffs and China tariffs, Trump only paused the more extensive tariffs, so yesterday's pop may have overestimated the ultimate costs companies would face.Some of the biggest movers were in retail with Boot Barn Holdings (NYSE: BOOT) falling as much as 9%, Deckers Outdoor (NYSE: DECK) dropping 8.3%, Hasbro (NASDAQ: HAS) falling 9.8%, Mattel (NASDAQ: MAT) off 10.1%, and Nike (NYSE: NKE) declining 11.9% at its low.Continue reading
The market's wild recovery on Wednesday afternoon was driven by President Donald Trump temporarily pausing tariff increases on countries all around the world, except China. A 10% blanket tariff will still be in place, but the bigger tariffs that were expected to hit countries like Vietnam, Cambodia, and Indonesia, where many shoes and kids toys are made, will be in place.
What seems to have been forgotten in that bounce was that tariffs are still higher than they were at the start of the year and the tariff on imports from China would be an astounding 145%. On top of the baseline tariffs and China tariffs, Trump only paused the more extensive tariffs, so yesterday's pop may have overestimated the ultimate costs companies would face.
Some of the biggest movers were in retail with Boot Barn Holdings (NYSE: BOOT) falling as much as 9%, Deckers Outdoor (NYSE: DECK) dropping 8.3%, Hasbro (NASDAQ: HAS) falling 9.8%, Mattel (NASDAQ: MAT) off 10.1%, and Nike (NYSE: NKE) declining 11.9% at its low.
