Trump Tariffs Trigger Sell-Off: On Holding, AST SpaceMobile, Lululemon, Shopify, Robinhood Tank
The SPDR S&P 500 ETF Trust SPY is experiencing significant selling pressure after the Trump Administration announced new tariffs aimed at strengthening the U.S. economy. The SPY fell approximately 2.8% in after-hours trading, leading to a loss of about $1.3 trillion in market value for the S&P 500. Major companies like On Holding, Lululemon, and Shopify saw declines of over 9%, reflecting the market's negative reaction to the tariffs.
The SPDR S&P 500 ETF Trust SPY, which tracks the S&P 500, is facing heavy selling pressure in Wednesday’s after-hours session following reciprocal tariffs from the Trump Administration.
What To Know: U.S. President Donald Trump unveiled sweeping new tariffs on Wednesday designed to help strengthen the American economy over the long term. The move could have dramatic impacts on the economy in the near term, as evidenced by the steep sell-off in reaction by the market.
The SPY was last down about 2.8% after hours, trading just below the $550 level. With a market capitalization of approximately $47.36 trillion as of April 1, per Slickcharts, the S&P 500 saw approximately $1.3 trillion in value disappear on Wednesday.
Here’s a look at some of the biggest movers in the S&P 500 after hours:
- On Holding AG ONON down 15.01% at $38.22
- Five Below Inc FIVE down 13.5% at $70.49
- AST SpaceMobile Inc ASTS down 11.2% at $19.90
- Dollar Tree Inc DLTR down 11.1% at $68.99
- Lululemon Athletica Inc LULU down 10.9% at $251.96
- Deckers Outdoor Corp DECK down 10.1% at $106.05
- Skechers U.S.A. Inc SKX down 9.59% at $53.38
- Shopify Inc SHOP down 9.01% at $91.58
- V.F. Corp VFC down 8.77% at $14.95
- Robinhood Markets Inc HOOD down 8.39% at $39.03
- Viper Energy Inc VNOM down 8.41% at $42.08
- SharkNinja Inc SN down 8.09% at $81.25
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