E-Learning

Why Nike (NKE) Stock Is Down Today

Shares of athletic apparel brand Nike (NYSE:NKE) fell 15% in the pre-market session after President Trump announced "reciprocal tariffs" on all US imports, set at a minimum rate of 10%.

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Fear that Trump tariffs will spark recession wipes out more than $2 trillion in value from US stocks

U.S. companies had trillions of dollars in value wiped out Thursday after President Donald Trump slapped sweeping tariffs on foreign imports. Virtually every sector suffered big losses as U.S. financial markets closed with their biggest one-day drop since COVID-19 flattened the global economy five years ago. Banks, retailers, clothing, airlines and technology companies were among the hardest hit, with consumers expected to cut spending if tariffs lead to higher prices for goods and services.

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