š TECH WRECKED AS TRUMP TARGETS AUTO TARIFFS
š S&P -1.1% | Nasdaq -2.0% | Dow -0.3% | NVDA, TSLA DOWN 5%+
š„ TRUMP JUST KILLED THE RALLY
The 3-day win streak? Dead.
Markets took a sharp U-turn Wednesday as the White House confirmed Trump will unveil new auto tariffs.
The S&P 500 dropped 1.1%, while the Nasdaq plunged 2%āits worst day in weeks.
And tech? Absolutely smoked. Tesla and Nvidia both tanked over 5% as investors bailed.
š„ HEREāS WHAT HAPPENED:
šØ Auto Tariffs Are Back
Trump is prepping fresh tariffs on vehicle imports, with the press conference set for this afternoon.
Stocks instantly nosedived.
š Tuesday: āMaybe we give countries breaks.ā
š„ Wednesday: āI donāt want too many exceptions.ā
Markets hate mixed messages. And this one hit like a truck.
š Copper Tariffs Next?
Bloomberg reports the White House could slap tariffs on copper within weeks, sparking a surge to all-time highs.
š Tech Hits a Wall
Tesla ($TSLA): -5.6%
Nvidia ($NVDA): -5.7% on China chip news
Microsoft ($MSFT): -1.3% after reports of scrapped data centers
Keep reading with a 7-day free trial
Subscribe to T&Gās Substack to keep reading this post and get 7 days of free access to the full post archives.