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Top Stock Movers Now: Boeing, DuPont, Tesla, and More
Key Takeaways
Worries about a trade war sent U.S. equities cratering for a second straight session, this time as China retaliated to U.S. tariffs. The S&P 500 and Nasdaq were around 4% lower, while the Dow Jones Industrial Average declined about 3.5%.
Boeing ( BA ) was the worst-performing stock in the Dow as the aircraft maker is a major exporter to China.
The Chinese tariffs also hit the energy sector hard, as crude futures plunged, sending shares of oil firms such as Chevron ( CVX ) and APA ( APA ) tumbling.
DuPont ( DD ) shares sank after China began an antitrust investigation of the materials and chemical giant.
Shares of Telsa ( TSLA ) tumbled when JPMorgan lowered its profit estimates of the electric vehicle (EV) maker, citing disappointing deliveries and brand damage.
On the plus side, shares of D.R. Horton ( DHI ) and rival homebuilders gained as fears the trade war will lead to a recession drove down interest rates. The yield on the 10-year Treasury dipped below 4%.
Nike ( NKE ) was the best-performing stock in the Dow as shares recouped part of their substantial losses Thursday following steep tariffs on Vietnam, which manufactures many of the sneaker giant's products.
Gold prices fell. The U.S. dollar was up on the euro and pound, but lost ground to the yen. Most major cryptocurrencies traded higher.
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