Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers podcast, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg data.
Speaker 1: Let's take a look at some stocks on the move today.
Speaker 1: We're joined by Lisa Montel.
Speaker 3: All Right, I want to start with Apple, because the
Speaker 3: shares fell more than nine percent yesterday. That erased about
Speaker 3: three hundred and eleven billion dollars in market value. It
Speaker 3: was the worst single day decline since March sixteen, twenty twenty,
Speaker 3: during the pandemic. So that's a while. Shares have been
Speaker 3: down as much as four percent this morning, but we
Speaker 3: talked about it yesterday. Right, The supply chain relies heavily
Speaker 3: on China. New Terriss reached thirty four percent in China
Speaker 3: off for China. But it's not just China. Apple also
Speaker 3: relies on other nations, for example, India, Vietnam, Malaysia, Thailand,
Speaker 3: even yes, Paul Ireland. Yes, but it's not just Apple.
Speaker 3: To Dell Technologies, they sank nineteen percent yesterday. Those shares
Speaker 3: down as much as a four percent before the bell to.
Speaker 4: So some big big names taking some big big hits here.
Speaker 4: We had some Bloomberg Television came out just earlier this
Speaker 4: morning with some charts and they're just kind of breaking
Speaker 4: it down. There's no real sector that's escaping us. You
Speaker 4: know what. You just look across the boils and package goods, consumers,
Speaker 4: the technology, you know, the commodities, pretty much everything across support.
Speaker 4: It's simply a risk off environment reflecting increased levels of
Speaker 4: Insercha and Nike, I.
Speaker 3: Mean footwear apparel, that's another one. I mean, what's wild
Speaker 3: about this. The Nike story is that during President Trump's
Speaker 3: first term, apparel and footwear makers they shifted manufacturing out
Speaker 3: of China to avoid tariffs, and now they're being hit
Speaker 3: anywhere because they's targeting the same nations that they moved to.
Speaker 1: But to the point of, you can't grow bananas in America,
Speaker 1: can we grow Michael Jordan's sneakers? Jordan's is just as
Speaker 1: important a discussion.
Speaker 4: Yeah, absolutely, they go to.
Speaker 3: Viet They go to Vietnam for a lot of that. Stillantis, Yes,
Speaker 3: of course they're dealing with all tarifs. They closed down
Speaker 3: like nine percent yesterday this morning there up as much
Speaker 3: as as they are six percent. Also dealing with a
Speaker 3: few other things, though not just tariffs. It's this trickle
Speaker 3: down effect because now you have about six thousand workers
Speaker 3: in Counada's auto sector receive those temporary layoff notices. A
Speaker 3: majority of them work at a Stillantis Planet in Ontario
Speaker 3: makes Chrysler Dodge vehicles and they're going to post production
Speaker 3: for two weeks starting on Monday. But they also received
Speaker 3: on top of this, and know some other bed news,
Speaker 3: Stillantis received a downgrade by Fitch due to the tariffs too,
Speaker 3: So on top of that news.
Speaker 1: They also set it down. Thank you, thank you so
Speaker 1: much for bringing this up. Well, this is not a
Speaker 1: small matter. I mean we're all looking at Apple with
Speaker 1: a gazillion dollars of cash on the balance seat there's
Speaker 1: four to eighty three whatever other stocks. And you wonder
Speaker 1: in this new fragility, when Fitch, Moodies, S and p.
Speaker 4: Step in start looking at the balance.
Speaker 1: You know, that's the first I've heard that. At least Mateo.
Speaker 2: Out front with them.
Speaker 3: That's what they're doing with Wayfair a down grade there,
Speaker 3: I mean Wayfair, I didn't even realize it. They were
Speaker 3: down twenty five percent yesterday. That's the online furniture retailer.
Speaker 3: Before the bell, the had been down as much as
Speaker 3: ten percent, but they got a downgrade from City and
Speaker 3: City saying Wayfair. Yes, they are positioned well long term,
Speaker 3: but the tariffs have made the risk to revenue now greater.
Speaker 3: And which interesting is that they said eBay is a
Speaker 3: good alternative to look at instead of Wayfair.
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