Retailers Were Hit Hard on Trump Tariffs
The damage was heaviest in companies whose supply chains are most dependent on overseas manufacturing. Apple Inc., which makes the majority of its US-sold devices in China, was down about 9% in morning trading. Lululemon Athletica Inc. and Nike Inc., among companies with manufacturing ties to Vietnam, were down around 12%. Walmart Inc. and Dollar Tree Inc., retailers whose stores are filled with products sourced outside of the US, were trading lower by about 1% and around 10%, respectively.
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