Uber Technologies (UBER) saw its stock price plummet 6.32% in intraday trading on Thursday, as investors reacted to President Trump's announcement of new "reciprocal tariffs" on all US imports. The ride-hailing and food delivery giant's shares were caught in a broader market selloff triggered by renewed fears of economic slowdown.

The sharp decline came after President Trump unveiled plans to impose a minimum 10% tariff on all US imports, a move that sent shockwaves through global markets. Wedbush analyst Dan Ives described the tariffs as "worse than the worst case scenario" that Wall Street had been anticipating, highlighting the severity of the situation.

Uber, along with several other tech and gig economy companies, found itself particularly vulnerable to the market's negative sentiment. The new tariffs are expected to have far-reaching implications for global trade flows, potentially slowing economic growth and driving up consumer prices. This could directly impact Uber's operations by increasing costs and potentially reducing consumer spending on ride-hailing and food delivery services.

While Uber has been making strides in expanding its services, including a recent partnership with Serve Robotics to launch autonomous delivery in Dallas-Fort Worth, these positive developments were overshadowed by the macroeconomic concerns. The company's stock performance on Thursday reflects the broader market's anxiety about the potential economic fallout from the new tariff policy.