| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
A sweeping new wave of tariffs unveiled by President Donald Trump on Wednesday triggered a sharp selloff during the after hours of trading as the scope and scale of the trade duties exceeded Wall Street's worst-case expectations.
The president framed the move as a long-overdue correction to decades of trade imbalance, instituting what he called a "reciprocal tariff rate," set at 50% of what trading partners charge the United States, but also factoring in non-tariff barriers like currency manipulation, value-added taxes and outright import bans.
While Trump had telegraphed his intention to "rebalance" U.S. trade policy, the specific duty levels, some of which reached into the mid-30% range with key trading partners, jolted investors.
Under the new framework, China, which Trump said imposes tariffs as high as 67% on American goods, will now face reciprocal U.S. duties of approximately 37%. The European Union, which applies a 39% combined rate including VATs, will be subject to a 20% U.S. tariff. Japan, with an estimated 46% trade barrier, now faces a 24% duty on exports to the U.S.
Canada and Mexico, two major trading partners, were notably excluded from the tariff program — a move that suggests Trump may be preserving the U.S.-Mexico-Canada Agreement, at least for now.
The White House confirmed that new trade tariffs will take effect on April 9.
The market’s reaction was swift and brutal. By 5:10 p.m. ET, futures on the S&P 500 dropped 2.5%, while Nasdaq 100 futures fell 3.3%. Dow Jones Industrial Average contracts lost 1.4% and the Russell 2000 futures collapsed by 4.7%.
Losses were broad-based. Every major sector of the S&P 500 was in the red, with Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) and Technology Select Sector SPDR Fund (NYSE:XLK) down about 3%.
As risk appetite evaporated, gold prices climbed. Futures on the yellow metal gained 1.1%, extending their year-to-date advance as investors sought shelter from escalating geopolitical and trade tensions.
The Magnificent Seven stocks, the market's dominant tech names, are on track to lose a combined $685 billion.
Apple Inc. (NASDAQ:AAPL) was the biggest laggard, down 6.6% and projected to erase $221.7 billion in market value.
Nvidia Corp. (NASDAQ:NVDA) lost 4.7%, a drop equivalent to $127.2 billion. Amazon.com Inc. (NASDAQ:AMZN) fell 5.1%, and Tesla Inc. (NASDAQ:TSLA) slid nearly 6%, as traders repositioned for a potentially more inflationary and protectionist economic environment.
Here's the breakdown of projected market cap losses with the tech elite group:
| Name | Market Cap ($B) | Post-Mkt % Chg | Projected Loss ($B) |
|---|---|---|---|
| Apple Inc. | 3364.8 | -6.59% | -221.7 |
| Microsoft Corporation (NASDAQ:MSFT) | 2842.7 | -1.99% | -56.6 |
| NVIDIA Corporation | 2694.6 | -4.72% | -127.2 |
| Amazon.com, Inc. | 2079.0 | -5.06% | -105.2 |
| Alphabet Inc. (NASDAQ:GOOGL) | 1923.7 | -3.09% | -59.4 |
| Meta Platforms, Inc. (NASDAQ:META) | 1480.5 | -4.16% | -61.6 |
| Tesla, Inc. | 910.7 | -5.86% | -53.4 |
| Total | — | — | -685.1 |
According to Benzinga Pro data, the steepest decliners in the aftermarket session included:
| Name | Chg % |
|---|---|
| RH (NYSE:RH) | -24.41% |
| Penske Automotive Group, Inc. (NYSE:PAG) | -22.47% |
| Lululemon Athletica Inc. (NASDAQ:LULU) | -12.51% |
| Hess Corporation (NYSE:HES) | -11.61% |
| The Gap, Inc. (NYSE:GPS) | -11.60% |
| lululemon athletica inc. (NASDAQ:LULU) | -10.82% |
| Five Below, Inc. (NASDAQ:FIVE) | -10.38% |
Major gainers were:
| Name | Chg % |
|---|---|
| Dillard’s, Inc. (NYSE:DDS) | +4.36% |
| Certara, Inc. (NASDAQ:CERT) | +4.16% |
| Federal Realty Investment Trust (NYSE:FRT) | +3.78% |
| Reinsurance Group of America, Inc. (NYSE:RGA) | +2.79% |
| Ferguson Enterprises Inc. (NASDAQ:FERG) | +2.57% |
| Church & Dwight Co., Inc. (NYSE:CHD) | +2.48% |
| L3Harris Technologies, Inc. (NYSE:LHX) | +2.33% |
Read Next:
Image created using photos from Shutterstock.
Posted In: AAPL AMZN CERT CHD DDS FERG FIVE FRT GOOGL GPS HES LHX LULU META MSFT NVDA PAG RGA RH TSLA
