By WSJ Staff

Global stock markets are down across the board. Here are some of the shares eyeing big hits:

Tesla $(TSLA)$: Wedbush Securities' Dan Ives, one of Wall Street's most vocal tech bulls, cut his 12-month price target for the stock to $315 from $550 on Sunday. Shares were down 4% in premarket trading, having slid 10% Friday.

Wells Fargo $(WFC)$; JPMorgan $(JPM)$: U.S. banks were on course to open lower, based on premarket trades, as their European peers fell. Among other concerns, a tariff-fueled economic downturn would hit deal making and demand for loans.

Apple $(AAPL)$; Foxconn (TW:2317); TSM $(TSM)$: Investors are processing what tariffs mean for Apple's China-dependent supply chain. Shares of iPhone assembler Foxconn, formally known as Hon Hai Precision Industry, dropped around 10% in Taiwan, as did shares of TSMC, which makes chips for iPhones.

Alibaba $(BABA)$; Tencent (HK:700): China's largest tech stocks saw steep falls, with Alibaba dropping 18% in Hong Kong. In the U.S., all of the "Magnificent 7" tech stocks, including Nvidia $(NVDA)$ looked poised to open lower.

Airbus (FR:AIR); Safran (FR:SAF): Tariffs have cast a shadow over European aerospace suppliers' U.S. businesses. Airbus stock was down more than 7% in French midday trading. Shares in Safran, which sells engines to Boeing $(BA)$, dropped 9%.

Kering (FR:KER): European luxury-goods companies including Gucci owner Kering continue to slide, amid concerns about their U.S. sales. Dig deeper with Heard on the Street:

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

April 07, 2025 06:58 ET (10:58 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.