US stocks dropped Wednesday as Wall Street braced for the expected rollout of President Donald Trump's tariffs.
The moves come ahead of the implementation of a raft of Trump's "reciprocal tariffs" that will "start with all countries." The White House revealed Tuesday that the levies "will be effective immediately." The administration as of Tuesday had yet to decide on the tariff levels and was still considering several options, according to a report from Bloomberg News, citing people familiar.
Tesla's first-quarter deliveries fell 13%, hurt by backlash against CEO Elon Musk's political stance, rising competition and its aging line up of electric vehicles, sending its shares down more than 5% in morning trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.