Krystal Hur
Appearances
WSJ What’s News
What’s News in Markets: Nike Tariff Turmoil, The Not-So-Magnificent Seven, Newsmax’s Wild Debut
This new blitz of tariffs across the globe has caught some of these companies flat-footed, which means they likely won't be able to avoid the impact of tariffs. That set Nike shares down 14% Thursday. On Friday, however, Nike shares bounced back, somewhat. Trump said he talked over the phone with Vietnam leader Tho Lam, who wants to cut Vietnam's tariffs to zero.
WSJ What’s News
What’s News in Markets: Nike Tariff Turmoil, The Not-So-Magnificent Seven, Newsmax’s Wild Debut
Some traders are taking that as a sign that negotiations are on the table. Still, the stock ended the week 9.5% lower. The Magnificent Seven aren't looking so magnificent anymore.
WSJ What’s News
What’s News in Markets: Nike Tariff Turmoil, The Not-So-Magnificent Seven, Newsmax’s Wild Debut
This group of tech stocks—Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla—have been at the forefront of the artificial intelligence craze and helped power the stock market to dozens of highs over the past two years. Now, with Trump's tariffs ripping through markets and uncertainty looming over the AI boom, those stocks are looking worse for wear. So how would tariffs affect tech?
WSJ What’s News
What’s News in Markets: Nike Tariff Turmoil, The Not-So-Magnificent Seven, Newsmax’s Wild Debut
Companies with international supply chains like Apple and Amazon could face big cost increases. And Meta's ad business could take a hit if companies slashed their advertising budgets. According to Dow Jones market data, the seven tech stocks collectively lost about $1.5 trillion in market cap this week, their largest weekly decline ever.
WSJ What’s News
What’s News in Markets: Nike Tariff Turmoil, The Not-So-Magnificent Seven, Newsmax’s Wild Debut
For the year, the biggest losers in that group are Tesla, whose shares have lost 41% in 2025, Nvidia, which is 30% lower, and Apple, down 25%. There's a hot new stock that is causing a stir on Wall Street. Newsmax, the conservative TV outlet, made its stock market debut on Monday with a $75 million IPO. That means the shares sold at $10 apiece. Trading so far has been volatile.
WSJ What’s News
What’s News in Markets: Nike Tariff Turmoil, The Not-So-Magnificent Seven, Newsmax’s Wild Debut
Some of investors' worst fears came true on Wednesday when President Trump announced sweeping tariffs. Stocks saw a steep sell-off on Thursday, their worst day since 2020. And things only got worse on Friday after China said it is matching the new 34% tariff on all goods imported from the U.S. The Dow fell more than 2,000 points.
WSJ What’s News
What’s News in Markets: Nike Tariff Turmoil, The Not-So-Magnificent Seven, Newsmax’s Wild Debut
Shares surged more than 700% at one point during Monday's session. The stock notched double-digit percentage declines or gains every trading day since. The company closed Friday at $45 a share. On Tuesday, shares had closed at $233. Talk about a wild ride. And now you know what's news in markets this week.
WSJ What’s News
What’s News in Markets: Nike Tariff Turmoil, The Not-So-Magnificent Seven, Newsmax’s Wild Debut
Today's show was produced by Zoe Culkin and Pierre Bien-Aimé with supervising producer Tali Arbel. I'm Crystal He. Have a great weekend.
WSJ What’s News
What’s News in Markets: Nike Tariff Turmoil, The Not-So-Magnificent Seven, Newsmax’s Wild Debut
Hey, listeners. It's Saturday, April 5th. I'm Crystal Her for The Wall Street Journal. And this is What's News in Markets, our look at the biggest stock moves of the week and the news that drove them. Let's get to it. Well, it looks like April is already shaping up to be a tough month for Wall Street.
WSJ What’s News
What’s News in Markets: Nike Tariff Turmoil, The Not-So-Magnificent Seven, Newsmax’s Wild Debut
Now, investors are worried that Trump's trade policies could break the economy's resilient streak and send it into a recession. Dan Ives of Wedbush Securities told me that he spent the week on dozens of calls with clients, playing a dual role. part analyst, part therapist. The week was a market rout. The Nasdaq fell into a bear market with a 20% decline from its peak. The U.S.
WSJ What’s News
What’s News in Markets: Nike Tariff Turmoil, The Not-So-Magnificent Seven, Newsmax’s Wild Debut
stock market shed $6.6 trillion in two sessions, the biggest two-day pullback on record. The three major indexes all notched their worst week since 2020. The S&P 500 dropped 9.1%, the Dow fell 7.9%, and the Nasdaq tumbled 10%. First up, let's talk about Nike, the patron saint of sneakerheads everywhere.
WSJ What’s News
What’s News in Markets: Nike Tariff Turmoil, The Not-So-Magnificent Seven, Newsmax’s Wild Debut
Nike gets the majority of its goods from countries that were hit with steep tariffs under Trump's plan. That includes a 46% levy on goods from Vietnam, 32% on Indonesia, and 34% on China. Nike is among American companies that moved production to Vietnam and other parts of Asia after Trump's China tariffs during his first term.
WSJ What’s News
Most Voters Oppose Trump’s Tariffs, But His Supporters Are Still Behind Him
So we saw a lot of investors really scared by the fact that China said that it is going to retaliate against the U.S. with a 34% levy on its own on all imported goods from the U.S. So we saw this hit the stock market really hard. We saw S&P 500 drop 6%, the Nasdaq sliding about 6% as well. The Dow Jones Industrial Average fell about 2,000 points. And we saw this hit across the market.
WSJ What’s News
Most Voters Oppose Trump’s Tariffs, But His Supporters Are Still Behind Him
It was a really widespread, brutal attack on markets.
WSJ What’s News
Most Voters Oppose Trump’s Tariffs, But His Supporters Are Still Behind Him
Not so great. They have lost about $1.6 trillion of market cap this week, which is a pretty sharp about face from the last two years. We had seen these stocks really be at the forefront of the bull market rally. But now we're seeing that a lot of these stocks are actually down quite a bit with double-digit percentage losses for the year.
WSJ What’s News
Most Voters Oppose Trump’s Tariffs, But His Supporters Are Still Behind Him
I'm not too sure. That's sort of the question on everyone's minds right now. A lot of people say that this has been totally unprecedented. They think that this could be the beginning of sort of a new regime for markets where that bull market rally that we've seen for the past two years is unlikely to jumpstart again anytime soon.