1 00:00:02,520 --> 00:00:08,800 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,880 --> 00:00:13,160 Speaker 2: Stock Movers podcast, your roundup of companies making moves in 3 00:00:13,200 --> 00:00:17,439 Speaker 2: the stock market, harnessing the power of Bloomberg data. 4 00:00:17,680 --> 00:00:20,080 Speaker 1: Let's take a look at some stocks on the move today. 5 00:00:20,079 --> 00:00:21,759 Speaker 1: We're joined by Lisa Montel. 6 00:00:21,800 --> 00:00:23,400 Speaker 3: All Right, I want to start with Apple, because the 7 00:00:23,440 --> 00:00:26,479 Speaker 3: shares fell more than nine percent yesterday. That erased about 8 00:00:26,480 --> 00:00:29,600 Speaker 3: three hundred and eleven billion dollars in market value. It 9 00:00:29,680 --> 00:00:32,839 Speaker 3: was the worst single day decline since March sixteen, twenty twenty, 10 00:00:33,159 --> 00:00:36,199 Speaker 3: during the pandemic. So that's a while. Shares have been 11 00:00:36,240 --> 00:00:38,839 Speaker 3: down as much as four percent this morning, but we 12 00:00:38,840 --> 00:00:41,360 Speaker 3: talked about it yesterday. Right, The supply chain relies heavily 13 00:00:41,400 --> 00:00:44,320 Speaker 3: on China. New Terriss reached thirty four percent in China 14 00:00:44,440 --> 00:00:46,720 Speaker 3: off for China. But it's not just China. Apple also 15 00:00:46,800 --> 00:00:51,479 Speaker 3: relies on other nations, for example, India, Vietnam, Malaysia, Thailand, 16 00:00:51,560 --> 00:00:55,960 Speaker 3: even yes, Paul Ireland. Yes, but it's not just Apple. 17 00:00:56,000 --> 00:00:59,840 Speaker 3: To Dell Technologies, they sank nineteen percent yesterday. Those shares 18 00:01:00,200 --> 00:01:02,480 Speaker 3: down as much as a four percent before the bell to. 19 00:01:03,240 --> 00:01:07,280 Speaker 4: So some big big names taking some big big hits here. 20 00:01:07,360 --> 00:01:10,080 Speaker 4: We had some Bloomberg Television came out just earlier this 21 00:01:10,160 --> 00:01:12,200 Speaker 4: morning with some charts and they're just kind of breaking 22 00:01:12,200 --> 00:01:15,360 Speaker 4: it down. There's no real sector that's escaping us. You 23 00:01:15,360 --> 00:01:18,280 Speaker 4: know what. You just look across the boils and package goods, consumers, 24 00:01:18,400 --> 00:01:23,119 Speaker 4: the technology, you know, the commodities, pretty much everything across support. 25 00:01:23,160 --> 00:01:27,040 Speaker 4: It's simply a risk off environment reflecting increased levels of 26 00:01:27,080 --> 00:01:28,160 Speaker 4: Insercha and Nike, I. 27 00:01:28,160 --> 00:01:30,919 Speaker 3: Mean footwear apparel, that's another one. I mean, what's wild 28 00:01:30,959 --> 00:01:33,959 Speaker 3: about this. The Nike story is that during President Trump's 29 00:01:34,000 --> 00:01:37,559 Speaker 3: first term, apparel and footwear makers they shifted manufacturing out 30 00:01:37,560 --> 00:01:40,600 Speaker 3: of China to avoid tariffs, and now they're being hit 31 00:01:40,680 --> 00:01:43,560 Speaker 3: anywhere because they's targeting the same nations that they moved to. 32 00:01:43,959 --> 00:01:47,640 Speaker 1: But to the point of, you can't grow bananas in America, 33 00:01:48,280 --> 00:01:52,560 Speaker 1: can we grow Michael Jordan's sneakers? Jordan's is just as 34 00:01:52,600 --> 00:01:53,720 Speaker 1: important a discussion. 35 00:01:53,840 --> 00:01:55,440 Speaker 4: Yeah, absolutely, they go to. 36 00:01:55,480 --> 00:01:58,880 Speaker 3: Viet They go to Vietnam for a lot of that. Stillantis, Yes, 37 00:01:58,880 --> 00:02:01,080 Speaker 3: of course they're dealing with all tarifs. They closed down 38 00:02:01,080 --> 00:02:03,920 Speaker 3: like nine percent yesterday this morning there up as much 39 00:02:03,920 --> 00:02:07,280 Speaker 3: as as they are six percent. Also dealing with a 40 00:02:07,280 --> 00:02:09,360 Speaker 3: few other things, though not just tariffs. It's this trickle 41 00:02:09,440 --> 00:02:11,760 Speaker 3: down effect because now you have about six thousand workers 42 00:02:11,760 --> 00:02:16,080 Speaker 3: in Counada's auto sector receive those temporary layoff notices. A 43 00:02:16,200 --> 00:02:18,640 Speaker 3: majority of them work at a Stillantis Planet in Ontario 44 00:02:18,760 --> 00:02:22,400 Speaker 3: makes Chrysler Dodge vehicles and they're going to post production 45 00:02:22,440 --> 00:02:24,720 Speaker 3: for two weeks starting on Monday. But they also received 46 00:02:24,760 --> 00:02:26,240 Speaker 3: on top of this, and know some other bed news, 47 00:02:26,280 --> 00:02:29,200 Speaker 3: Stillantis received a downgrade by Fitch due to the tariffs too, 48 00:02:29,480 --> 00:02:30,720 Speaker 3: So on top of that news. 49 00:02:30,480 --> 00:02:32,760 Speaker 1: They also set it down. Thank you, thank you so 50 00:02:32,960 --> 00:02:35,919 Speaker 1: much for bringing this up. Well, this is not a 51 00:02:35,960 --> 00:02:38,440 Speaker 1: small matter. I mean we're all looking at Apple with 52 00:02:38,600 --> 00:02:42,200 Speaker 1: a gazillion dollars of cash on the balance seat there's 53 00:02:42,240 --> 00:02:46,000 Speaker 1: four to eighty three whatever other stocks. And you wonder 54 00:02:46,120 --> 00:02:50,760 Speaker 1: in this new fragility, when Fitch, Moodies, S and p. 55 00:02:50,960 --> 00:02:52,440 Speaker 4: Step in start looking at the balance. 56 00:02:52,840 --> 00:02:55,720 Speaker 1: You know, that's the first I've heard that. At least Mateo. 57 00:02:55,360 --> 00:02:56,239 Speaker 2: Out front with them. 58 00:02:57,960 --> 00:03:00,560 Speaker 3: That's what they're doing with Wayfair a down grade there, 59 00:03:00,880 --> 00:03:03,000 Speaker 3: I mean Wayfair, I didn't even realize it. They were 60 00:03:03,040 --> 00:03:06,399 Speaker 3: down twenty five percent yesterday. That's the online furniture retailer. 61 00:03:07,080 --> 00:03:08,520 Speaker 3: Before the bell, the had been down as much as 62 00:03:08,520 --> 00:03:11,000 Speaker 3: ten percent, but they got a downgrade from City and 63 00:03:11,040 --> 00:03:14,280 Speaker 3: City saying Wayfair. Yes, they are positioned well long term, 64 00:03:14,280 --> 00:03:16,480 Speaker 3: but the tariffs have made the risk to revenue now greater. 65 00:03:16,560 --> 00:03:18,680 Speaker 3: And which interesting is that they said eBay is a 66 00:03:18,680 --> 00:03:21,600 Speaker 3: good alternative to look at instead of Wayfair. 67 00:03:23,120 --> 00:03:27,240 Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with 68 00:03:27,320 --> 00:03:30,079 Speaker 2: us throughout the day for the latest roundup of companies 69 00:03:30,120 --> 00:03:33,160 Speaker 2: making news on Wall Street and for the latest market 70 00:03:33,200 --> 00:03:37,600 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 71 00:03:37,600 --> 00:03:40,880 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 72 00:03:40,920 --> 00:03:42,400 Speaker 2: the Bloomberg Business app.