Live: Vanguard S&P 500 ETF (VOO) Plummets 4% as Nike (NKE) and Dell (DELL) Sink
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Market Sinking Headed into the Close
Stocks are near their daily lows as we approach the 4 p.m. closing bell. The Nasdaq Composite is down nearly 1,000 points, or -5.65%.
The S&P 500 is down 4.55% and the Dow Jones is down 3.73%.
What Companies Are Hit Hardest By Tariffs?
Morgan Stanley crunched the numbers on what tech companies have the highest exposure to tariffs and here’s what they found:
- Apple: 42%
- Seagate: 38%
- GoPro: 34%
- Dell: 32%
- Logitech: 31%
- HP: 28%
- Sonos: 25%
Each of these stocks is down dramatically this morning.
Indexes Keep Falling
Indexes keep trending south as the day goes:
- Nasdaq Composite: Down 5.6%
- S&P 500: Down 4.3%
- Dow Jones: Down 3.63%
The VOO is currently down 4.23%.
Stocks Gaining
Some stocks in the VOO are seeing gains today, here are a few of the winners:
- First Solar: Up 7.4%
- Lamb Weston: Up 7.1%
- Molina Healthcare: Up 4.9%
- MarketAxess: Up 4.2%
In general, consumers are moving to areas like consumer goods and grocery stores that are safe havens and have limited exposure to tariffs. Another strong industry is domestic healthcare distributors.
A day following “Liberation Day,” the talk of the town is that investors have been liberated from capital gains taxes.
The Dow Jones is down 3.72%, the Nasdaq is down more than 5%, and the Vanguard S&P 500 ETF (NYSE: VOO) is down 3.93% as of 10:25 a.m. ET.
Why is the market selling off?
- Tariffs announced by the Trump Administration are estimated to reduce trade by $900 billion this year. Almost every Wall Street bank is now pulling back economic growth estimates for the year.
- Tariff rates on other countries announced last night range from 10% to more than 50%. As of 2022, the United States had a weighted-average tariff rate of about 1.5%. However, after Trump’s tariff announcement yesterday the United States would have a weighted average tariff rate of 29%.
- Another issue driving stocks down today is the fact these tariffs appear to be less of a ‘negotiating tactic’ and something that will be in place for a prolonged period of time. For example, both Vietnam and Israel announced large cuts to tariffs on U.S. goods, but saw reciprocal tariff rates of 46% and 17%, respectively.
What Stocks Are Falling in the Vanguard S&P 500 ETF?
What stocks in the VOO are seeing the biggest declines today?
- Retailers and Clothing: Williams-Sonoma is down 18.1%, Deckers Outdoor down 16.9%, Ralph Lauren down 16.9%, and Nike down 13%. Each of these companies faces not only reduced consumer spending if a recession happens but also have overseas supply chains that would see significant tariff impacts if these tariffs take effect as presented on April 9th.
- Consumer Electronics: Dell is down 15.3%, HP is down 15.7%, and Best Buy is down 15.8%. Once again, these companies not only face reduced consumer demand but significant tariffs on their products. Apple was down 9% in early trading but has trimmed its losses to 7.9%.
Eric Bleeker has been investing for more than 20 years. He began his career working at Microsoft before joining Motley Fool, one of the largest publishers of financial research. In his 15 years at Motley Fool Eric served as the General Manager for Fool.com and led coverage in the Technology & Telecom sector. In addition, he was a featured columnist and has hosted dozens of investing seminars attended by more than a million total investors. Eric has more than 1,000 financial bylines to his name and has been featured in The Wall Street Journal, CNBC, Fox Business, and many other leading publications. He is currently focused on artificial intelligence investing and is a CFA Charterholoder.
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