Investing.com -- U.S. stock futures plunged Thursday, after President Donald Trump confirmed wide-reaching tariffs, which are likely to impact global trade and economic activity.
Here are some of the biggest premarket U.S. stock movers today:
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Apple (NASDAQ:AAPL) stock slumped 7.4% following President Donald Trump’s implementation of the largest U.S. tariffs in a century, with the iPhone maker having significant exposure due to its key manufacturing hub in China.
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Nvidia (NASDAQ:NVDA) stock fell 5.8%, even as the White House said the tariffs on Taiwan wouldn’t apply to chips, and.after the Information reported that Chinese companies have placed at least $16 billion in orders for the semiconductor’s H20 server chips in the first three months of the year.
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Nike (NYSE:NKE) stock fell 9.8% and Walmart (NYSE:WMT) stock dropped 4.8%, with both retailers hit hard after tariffs were imposed on major production hubs including Vietnam, Indonesia and China.
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Five Below (NASDAQ:FIVE) stock fell 15%, Dollar Tree (NASDAQ:DLTR) slipped 10% and Gap (NYSE:GAP) slumped 10%, as these retailers, which are big sellers of imported goods, faced difficulties in the wake of the new tariffs regime.
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Microsoft (NASDAQ:MSFT) stock fell 2.7% after Bloomberg reported the software giant has scaled back or delayed a series of data center projects globally, signaling a more measured approach to building the infrastructure that powers its AI and cloud services.
- Conagra Brands (NYSE:CAG) stock fell 2.7% after the packaged food company missed expectations for third-quarter sales, as supply-chain disruptions in frozen food and refrigerated business hurt its ability to meet demand.
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Lyft (NASDAQ:LYFT) stock slumped 11% after Bank of America double downgraded its stance on the ride-hailing company to “underperform” from “buy”.
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RH (NYSE:RH) stock slumped 28% after the home furnishings retailer reported a weaker-than-expected outlook, adding that it was facing “the worst housing market in 50 years.”
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Lucid Group (NASDAQ:LCID) stock fell 5% after the EV company said it planned to offer $1 billion of convertible senior notes, while announcing it delivered just over 3,100 vehicles in the first quarter.