What Trump's Newest China Tariff Means for Retail Earnings Season
If you haven't heard yet (how?), trade is back in full focus once again.
President Donald Trump tweeted Thursday that an additional 10 percent tariff will be placed on Chinese-made goods beginning in on September 1.
The Dow Jones Industrial average immediately felt a 600 point swing to the downside after hanging in the black for the majority of the day.
In later comments to reports, Trump said he wasn't surprised or concerned by the Dow and will continue to tax China until a trade deal can be reached.
Following the news, retail stocks took a huge hit with Best Buy , Bed Bath & Beyond , Kohl's and Real Money Stock of the Day Nike among the biggest losers.
Most retailers have yet to report second quarter earnings.
How will Trump's newest tariff affect retail guidance going forward?
Action Alerts PLUS senior analyst Jeff Marks breaks it down in the video above.
Nike Stock Slumps as Trump's Tariff Tweets Tank Retail Sector