Top Stock Movers: Nike, US Steel, Dollar Tree, and More
U.S. equity markets extended last week’s losses into Monday as escalating tariff tensions under the Trump administration weighed on investor sentiment. The Dow Jones Industrial Average, S&P 500, and Nasdaq were all in negative territory by midday.
Tesla (TSLA) shares led the decline, falling sharply after Wedbush slashed its price target from $550 to $315, citing persistent macroeconomic pressures.
Nike (NKE) also slipped, as investors grew concerned about rising costs tied to tariffs on manufacturing operations across Asia.
Financials came under pressure, with Goldman Sachs (GS) downgraded by Morgan Stanley due to heightened recession risks and deteriorating investment banking conditions.
On the upside, Dollar Tree (DLTR) surged after Citi upgraded the retailer to a “buy,” noting its pricing power amid the shifting economic landscape. Meanwhile, U.S. Steel (X) rallied following news that the Trump administration will conduct a fresh review of its merger with Nippon Steel.
Mesa Air Group (MESA) soared after announcing an all-stock merger with Republic Airways.
In commodities, oil and gold futures retreated. The 10-year Treasury yield ticked higher, while the U.S. dollar strengthened against the euro and yen but lost ground to the pound. Major cryptocurrencies also traded lower.
Elilie
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