The article highlights the severe downturn in the markets due to the intensifying trade war initiated by President Trump’s tariff plan. The Dow Jones Industrial Average plummeted over 1,160 points, while the Nasdaq Composite fell by 4.3%. Every sector is experiencing losses, particularly consumer discretionary and technology. However, AstraZeneca and PepsiCo have bucked the downward trend, achieving gains following positive developments. Analysts identified some stocks, such as TJX Companies, that may withstand the ongoing trade tensions.
The markets have succumbed to the tariff-fueled selling pressure, with the Dow Jones Industrial spiraling over 1,160 points due to intensified trade war concerns.
All sectors are trading in the red, with consumer discretionary stocks seeing declines of 5%, and several Magnificent 7 stocks falling around 6%.
Amidst the market downturn, AstraZeneca and PepsiCo are notable gainers, with AstraZeneca benefiting from FDA drug approval and PepsiCo attempting to regain market share.
Despite the significant sell-off, Citi analysts identified discount retailers like TJX Companies as resilient stocks in the face of ongoing trade wars.
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