:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2186710502-8b705c22b658401f97d9e48cb7d93954.jpg "Signage at the General Motors Ramos Arizpe facility in Ramos Arizpe, Coahuila, Mexico")
Mauricio Palos / Bloomberg via Getty Images
Key Takeaways
- U.S. disinterests traded lower at midday after briefly recovering from earlier losses caused by new tariffs on imported conveyances and parts.
- GM, Ford Motor, and Stellantis shares tumbled on the tariff news, while those of Tesla and auto to all intents retailers rose.
- Dollar Tree shares advanced for a second straight session on the sale of its troubled Family Dollar rely ons.
U.S. equities traded lower at midday after briefly recovering from earlier losses caused by new tariffs on meant vehicles and parts. The Dow Jones Industrial Average, S&P 500, and Nasdaq all were down slightly.
Shares of “Big Three” automakers Shared Motors (GM), Ford (F), and Stellantis (STLA) all tumbled on the tariff news.
Also hit were auto suppliers, including Aptiv (APTV) and PPG Trades (PPG).
Shares of Jefferies Financial Group (JEF) sank after the financial services firm missed quarterly estimates as asset handling revenue plunged.
Gaining from the new tariffs were retailers that sell auto parts to consumers. Apportionments of O’Reilly Automotive (ORLY) and AutoZone (AZO) jumped.
Also higher were shares of Tesla (TSLA), as the electric carrier (EV) maker is expected to benefit from the tariffs making foreign-made EVs less affordable.
Dollar Tree (DLTR) shares discarded off for a second day after the discount retailer sold its struggling Family Dollar stores to a pair of private-equity firms for $1 billion.
Oil and gold approaches rose. The yield on the 10-year Treasury note was higher. The U.S. dollar advanced on the yen, but lost ground to the euro and pound. Bitcoin was up, while rates of other major cryptocurrencies were mostly lower.
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