By Caitlin McCabe

Dollar Tree $(DLTR)$: Shares of the discount retailer fell 11% in premarket trading. The company receives the majority of its direct imports from China. It warned in February that tariffs could impair its ability to meet demand, resulting in lost sales and higher merchandise costs.

Nike $(NKE)$: Shares in the sportswear company slid more than 8% premarket. Suppliers in Vietnam, Indonesia and China manufacture 95% of its goods. Other shoemakers were hit hard too, with Adidas (XE: ADS) and Puma (XE:PUM) falling more than 8% apiece in Europe.

Apple $(AAPL)$: The iPhone maker led declines of big technology stocks, falling nearly 7% premarket. Most of the company's hardware products are manufactured in China.

Tesla $(TSLA)$, Nvidia $(NVDA)$, Amazon $(AMZN)$, Alphabet $(GOOGL)$, Microsoft $(MSFT)$, Meta Platforms $(META)$: The remaining six stocks in the Magnificent 7 also slid, falling between roughly 2% and 5% before the bell.

Walmart $(WMT)$, Target $(TGT)$, BestBuy $(BBY)$: Shares of all three retailers fell about 5% apiece in offhours trading. Many retailers have warned tariffs will lead to higher prices for their products. The companies have been pressuring suppliers to cut prices or move production out of China.

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(END) Dow Jones Newswires

April 03, 2025 06:01 ET (10:01 GMT)

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