By Ed Ballard
Here are some notable stock-market moves around the world, as investors continued to grapple with the implications of President Trump's sweeping tariffs.
Mining companies
-- Miners are being hit by fears a possible global economic downturn will hit demand for raw materials.
-- Shares of Glencore, one of the world's largest producers of copper, was down over 9% in London midday trading Friday. Anglo American and Rio Tinto also dropped.
-- On Friday, China-a huge source of demand from commodities-said it would hit all U.S. goods with a new 34% retaliatory tariff.
Consumer electronics
-- Shares of Samsung Electronics extended the previous day's losses, dropping 2.6% in South Korea. The company does much of its manufacturing in Vietnam, a country facing a 46% tariff rate due to its large trade deficit with the U.S.
7 The Magnificent 7
-- Off-market trades pointed to the "Magnificent 7" tech stocks continuing their slide Friday. They collectively shed over $1 trillion of market value Thursday, their worst day on record.
-- Apple has heavy exposure to manufacturing in China. A broader recession, meanwhile, would hit demand for advertising, cars and technology services.
Japanese carmakers
-- Carmakers particularly exposed to tariffs are those with large Mexican manufacturing operations.
-- That includes Toyota, which makes its Tacoma pickup south of the border, and Nissan with its Sentra compact sedan. Shares in both Japanese companies sold off Friday.
Consumer staples
-- Companies selling staples are bucking the broader selloff, as investors seek out defensive stocks that hold up well when times get tough.
-- The best performers among Europe's largest companies included beauty-products company L'Oréal and Danone, which sells Activia yogurt and Evian water.
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(END) Dow Jones Newswires
April 04, 2025 07:37 ET (11:37 GMT)
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