Nike Inc., the sportswear company, led the decline in the Dow Jones Industrial Average, dropping more than 5% amid growing concerns over tariffs’ impact on stocks and costs. According to FactSet data, FedEx Corp. also suffered significant losses, down almost 7%, making it one of the worst-performing stocks in the S&P 500 index.
Experts warn that widespread tariffs will pressure companies’ profit outlooks and compress margins. José Torres, senior economist at Interactive Brokers, stated that “stock markets are suffering further sharp losses as Wall Street becomes increasingly concerned about the impact of tariffs on top lines and costs.”
The Dow Jones Industrial Average closed down 0.1% lower, while the S&P 500 index was up 0.2%. The decline in stock prices reflects investors’ concerns over the potential effects of tariffs on corporate America and global trade.
Source: https://www.marketwatch.com/livecoverage/stock-market-today-dow-s-p-500-and-nasdaq-set-for-weaker-start-fedex-nike-shares-slump/card/nike-posts-biggest-drop-in-dow-as-tariff-worries-weigh-on-stocks-PABQks3KhyCM7NVBkZ4N