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Trump transferred his shares in the media company to a trust run by his son in December. The president has said he has no plans to sell his stock.

SINGAPORE (Reuters) -Stocks dived on Thursday and investors scrambled for the safety of bonds, gold and the yen, fearing new U.S. tariffs have intensified a trade war threatening to tip the world into recession. The dollar was swept to a six-month low, falling along with U.S. bond yields after President Donald Trump imposed tariffs that raise effective import taxes to the highest levels in a century. "This is a game-changer, not only for the U.S. economy but for the global economy," said Olu Sonola, head of U.S. economic research at Fitch Ratings.

Retailers are already facing a cautious consumer.

President Trump announced a 10% baseline tariff and “discount” reciprocal tariffs on Wednesday during a widely anticipated Rose Garden address.

Nvidia (NVDA), TSMC (TSM) and other chip stocks fell Wednesday after the bell following US president Trump’s announcement of sweeping reciprocal tariffs affecting the semiconductor supply chain.

A report from Politico that Musk could step back from his role in the White House helped boost the stock after Q1 deliveries came in weaker than expected.

RH shares plunged in extended trading Wednesday after the furniture maker issued a weaker-than-expected outlook and said it's facing “the worst housing market in 50 years.”