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SYDNEY (Reuters) -Global stocks fell on Thursday, led by heavy losses in Japan and South Korea, after U.S. President Donald Trump announced new tariffs on auto imports, with European stock futures also pointing to a lower open. Trump late on Wednesday announced plans for long-promised 25% tariffs on automotive imports. Analysts expect the move to hit European, Japanese and South Korean companies at most.

The hugely anticipated next-gen version of Nintendo's handheld console is expected to be released ahead of this year's holiday shopping season.

Nvidia dropped Wednesday morning after the Financial Times reported new restrictions from Beijing.

The US economy could be heading for a sharp slowdown "very very soon," an analyst said on Wednesday. Price targets for the S&P 500 have been edging lower.

Shares of mega-cap tech leaders tumbled Wednesday afternoon after a surprise announcement of auto tariffs from the White House.

American companies are investing more in their future and getting a better return on their investments than overseas peers, Goldman Sachs said.

Corcept currently trades at $58.76 and has been a dream stock for shareholders. It’s returned 434% since March 2020, blowing past the S&P 500’s 117% gain. The company has also beaten the index over the past six months as its stock price is up 35.8%.