Tesla (TSLA) +2% Tesla shares bounced after a rough Monday, despite being down 36% in Q1 — the worst Q1 in company history. Investors are now eyeing its Q1 delivery report due Wednesday, with Street estimates hovering around 380,000 units . Analysts have been revising expectations lower amid backlash over Elon Musk’s role in Trump’s administration. Chinese EV Makers Up XPeng (XPEV) +1.6% : Delivered 33,205 vehicles in March — its fifth straight 30k+ month. NIO (NIO) +1.6% and Li Auto (LI) +1.4% also gained on strong March deliveries. Nvidia (NVDA) -0.6% Still under pressure after a 19.3% Q1 drop , its worst since 2022. Investor worries over AI spending, tech valuation, and trade tensions are weighing heavily. Johnson & Johnson (JNJ) -5% Fell after a Texas judge dismissed J&J’s third bankruptcy attempt to settle talc-related lawsuits via Chapter 11. PVH Corp (PVH) +18.9% Shares surged after Q4 earnings beat expectations ...
Asian markets took a hit Thursday as U.S. stocks dropped following President Donald Trump’s announcement of a 25% tariff on all foreign-made vehicles, escalating the global trade war and raising concerns about inflation.
Key Market Movements:
Japanese Stocks: The Nikkei plunged 1.2%, with major losses in the automotive sector, notably Toyota Motordown 3.4%, Mazda and Subaru both falling about 6%.
South Korean Stocks: The Kospi dropped 0.7%, affected by heavy losses in local automakers, which have significant exposure in the U.S. market.
Chinese EV Makers: Shares of Nio and Xpeng fell by 2.8% and 1.1%, respectively, contributing to a 0.3%drop in China's blue-chip index and Hong Kong's Hang Seng.
U.S. Futures: Nasdaq futures declined 0.2%, while S&P 500 futures were down 0.1%. Wall Street had already ended lower, with the Nasdaq slumping over 2% on Wednesday.
Dollar and Inflation:
U.S. Dollar: The dollar index rose 0.5% overnight to 104.71, reaching its highest in three weeks, before settling at 104.46. The euro dipped to a three-week low but bounced back slightly.
Gold and Oil: Gold increased by 0.3% to $3,028 per ounce, nearing its record high. Oil prices also rose slightly, with Brent futures gaining 0.1% to $73.87 per barrel and U.S. crude adding 0.2% to $69.77 per barrel.
Global Reactions:
Japan’s Response: Japan’s Prime Minister, Shigeru Ishiba, said "all options were on the table" in response to the U.S. tariffs.
Canada and EU: Canada hinted at potential retaliatory duties, while the EU expressed regret but emphasized seeking negotiated solutions.
U.S. Inflation Risk: Analysts are concerned that Trump's tariff policy could fuel U.S. inflation further. The Federal Reserve has paused its policy easing cycle, with officials warning of potential higher inflation and slower growth.
Economic Outlook:
The announcement of the tariffs has raised worries about global inflation and the potential for U.S. economic slowdowns, with some analysts expecting a more complex road ahead as international markets adjust to new trade restrictions.
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