BUZZ-US retailers slip as Trump hints at higher tariffs on China imports
Shares of U.S. retailers declined following President Trump's indication of potential significant tariff increases on Chinese imports. Notable drops include Gap, Nike, and Ralph Lauren down approximately 2%, Abercrombie & Fitch and American Eagle Outfitters down around 3%, and Best Buy down about 4%. Toymakers Mattel and Hasbro also fell nearly 4%, while Levi Strauss saw a 12% drop due to high costs from U.S. tariffs. The S&P 500 Consumer Discretionary Distribution & Retail Index decreased by 2.5% on Friday.
Shares of U.S. retailers fall after President Donald Trump said the U.S. is calculating a massive increase in tariffs on Chinese imports, fueling concerns over likely impact on sourcing supplies
Apparel retailers Gap (GAP.N) , Nike (NKE.N) , Ralph Lauren (RL.N) , Lululemon (LULU.O) down ~2%
Abercrombie & Fitch (ANF.N) , American Eagle Outfitters (AEO.N) down ~3%
Shares of electronics retailer Best Buy (BBY.N) down ~4%
Toymakers Mattel (MAT.O) and Hasbro (HAS.O) fall nearly 4%
Levi Strauss (LEVI.N) down 12% after flagging high costs linked to U.S. import tariffs
S&P 500 Consumer Discretionary Distribution & Retail Index .SPXRT is down 2.5% on Friday
