Check out Noon Trading: Companies making bank stock headlines as President Donald Trump’s new tariff policy has increased fear of an economic pullback in the US, leading banks fell on Friday. Shares of Goldman Sachs, Citigroup, Morgan Stanley and Wells Fargo fell around 8%. JPMorgan fell by 7%. Tesla, Palantir Technologies – The top pick among retail investors couldn’t resist the sale on Friday. Electric car maker Tesla fell by about 10%, while defense technology stock Palantia fell by 12%. Real Estate Stocks – Real Estate Stock Prologis and Simon Property Group each skied about 3% on Friday. Real estate stocks are sensitive to consumer discretionary expenditure levels. Apple – iPhone makers stocks account for around 80% of Apple’s production capacity, about 80% of Apple’s production capacity, and about 80% of Apple’s production capacity, according to Evercore ISI estimates. China’s Funds – China-centric exchange trade funds have fallen after China’s Treasury Department announced a 34% tariff on US imports from April 10 in response to the Trump administration’s cumulative 54% obligation on Chinese goods. Kraneshares CSI China Internet ETF (KWEB) fell by more than 9%, while Ishares MSCI China ETF (MCHI) and Ishares China Large-Cap ETF (FXI) fell by 7% each. Chipmakers – Semiconductor stocks with significant exposure to China have slipped. Stock in Marvell Technology fell by about 12%, while Intel lost 10%. Nvidia and Broadcom shares fell by more than 7% each. Manufacturing Stocks – Farm and construction equipment manufacturer stocks fell amid the latest tariff updates. Deere and CNH Industrial fell by 4% and 6% respectively, while Caterpillar and Agco fell by more than 5%. In a memo to clients, UBS analyst Stephen Fisher said, “The trade dynamics tend to prefer free trade rather than relying on government payments, so trade dynamics are heading towards the agricultural sector and agricultural companies.” Boeing, GE Aerospace – Boeing slipped over 9%, while GE Aerospace fell over 8%. Trump’s tariff rafts threaten to increase the costs of aircraft, engines and other aerospace products. Shell – The London-based energy company’s shares have slid over 8% since this week after Trump’s tariffs have caused oil prices to fall to lowest levels. Casino Stock – Macau casino operators declined on Friday. Las Vegas Sands shares slipped about 8%, while Wynn Resorts and MGM Resorts International each fell about 4%. – CNBC’s Alex Hurling, Sean Conlong, Lisa Han and Hakyung Kim reported.
