Check out the companies making headlines in the midday deal after President Donald Trump ordered a review of Japan’s Japanese Steel’s proposed acquisition of US steel. The President directed the Committee on Foreign Investment in the United States to assist “in determining whether further action on this issue is appropriate.” Automakers – Automakers’ stocks continued to fall as investors worried about the lack of transactions tied to President Trump’s tariff policy. Stellantis pulled back over 6%, while Ford Motor fell 5%. General Motors slipped 3% to slow market performance after a Bernstein downgrade of its stock. Tesla – Elon Musk’s electric car company stock has slipped 5%. Devout Tesla Bull Dan Ives has significantly reduced the price targets for the EV company, citing concerns over Musk’s political ties with the White House. Machinery Inventory – US machinery companies fell on Monday after UBS downgraded major stocks. Caterpillar, Terex, Paccar, all of them have been downgraded to sales, with over 3% falling. Dollar Tree – After an upgrade to buy from City’s Neutral, discount retailers rose 6% in the Red Sea. Analyst Paul Lesjuse called the company “the winner of the Dark Horse” amid the global trade war. Major Banks – Stocks in major banks continued to fall amid concerns over a possible recession. Morgan Stanley and City skied over 1%. Degraded to equal weight from Morgan Stanley’s overweight, Goldman Sachs lost about 3% of Apple. iPhone manufacturers have dropped by more than 5%. Apple manufactures devices in China and has recently been under heavy pressure to look at stocks as Trump’s tariffs are targeting Beijing. On Monday, the president threatened a new 50% tariff on China if its own retaliation obligations were not lifted. China’s ADRS – The Chinese company’s US-listed stock has fallen over as investors fears higher tariffs slapped in the country could hinder its operations. Alibaba dropped over 11% and JD.com slipped around 8%. Bilibili dropped by 7% and PDD pulled back by 6%. Bitcoin Stocks – Bitcoin-related stocks continued to struggle on Monday as the largest cryptocurrency by market capitalization was pulled back by more than 2%. Coinbase, the trading platform, lost 5%, but its strategy (formerly micro-strategy) fell by more than 11%. Miners Mala Holdings and the riot platform each fell by about 1%. Shares in Trump Media & Technology Group – Truth Social Parent Company fell 2% on Monday. The stock is on track due to the eighth loss session of the last nine days. RH – Luxury furniture makers rose 15% in relief bounces. RH shares sold hard last Thursday, tanking 40% and fell another 2.5% on Friday. Top and bottom line fourth quarter mistakes, as well as soft guidance, lowered stocks last week. – Reported by CNBC’s Sean Conlon, Lisa Kaily Han, Alex Hurling, Michelle Fox and Jesse Pound. Get tickets for Pro Live Join us on the New York Stock Exchange! An uncertain market? Earn Edge with CNBC Pro Live, the first exclusive event on the historic New York Stock Exchange. Access to expert insights is paramount in today’s dynamic financial situation. As a CNBC Pro subscriber, we encourage you to take part in the first exclusive, in-person CNBC Pro live event held at the iconic NYSE on Thursday, June 12th. Join ProSCarter Worte, an interactive pro clinic led by Dan Niles and Dan Ives, along with a special edition of Pro Talks with Tom Lee. You will also get the opportunity to network with CNBC experts, talent and other pro subscribers during exciting cocktail hours on the legendary trading floor. Tickets are limited!
