President Trump’s weekend threat to raise tariffs on $200 billion in annual imports from China to 25% from 10% rattled U.S. stocks Monday, following broad declines in Asia and Europe.
It may well be a typical negotiating tactic by the president, and the narrative may change before Trump’s new Friday deadline.
The Dow Jones Industrial Average DJIA, -0.96% was down as much as 1.8% in early trading, while the S&P 500 SPX, -1.02% fell as much as 1.6% and the Nasdaq Composite Index COMP, -1.23% tumbled as much as 2.2%.
At 9:45 ET, all but one of the Dow 30 stocks were down:
Company Ticker Price change - May 6, 2019 Price change - 2019 Decline from 52-week intraday high DowDuPont Inc. DWDP, -4.03% -3.4% -6.3% -35% Nike Inc. Class B NKE, -3.17% -2.9% 12.2% -8% Caterpillar Inc. CAT, -2.16% -2.5% 6.7% -22% Boeing Co. BA, -1.66% -2.4% 14.0% -18% Goldman Sachs Group Inc. GS, -1.74% -2.4% 21.3% -26% Intel Corp. INTC, -1.25% -2.3% 7.7% -33% Apple Inc. AAPL, -2.16% -2.0% 31.6% -11% United Technologies Corp. UTX, -1.23% -1.9% 30.5% -4% Merck & Co. Inc. MRK, -1.20% -1.9% 2.7% -14% 3M Co. MMM, -1.99% -1.7% -4.5% -30% International Business Machines Corp. IBM, -0.83% -1.5% 21.5% -36% JPMorgan Chase & Co. JPM, -1.09% -1.5% 17.2% -4% Cisco Systems Inc. CSCO, -1.23% -1.5% 24.9% -34% Walgreens Boots Alliance Inc. WBA, -1.26% -1.5% -22.0% -45% American Express Co. AXP, -0.59% -1.2% 23.7% -1% Pfizer Inc. PFE, +0.34% -1.3% -6.4% -18% Johnson & Johnson JNJ, -1.07% -1.3% 8.6% -6% Travelers Companies Inc. TRV, -0.99% -1.2% 18.3% -6% Microsoft Corp. MSFT, -0.97% -1.0% 25.6% -3% Visa Inc. Class A V, -0.50% -0.7% 21.9% -3% Procter & Gamble Co. PG, -0.50% -0.9% 14.4% -2% Coca-Cola Co. KO, -0.37% -0.8% 2.1% -5% Walmart Inc. WMT, -0.17% -0.7% 8.8% -8% Exxon Mobil Corp. XOM, -0.44% -0.7% 12.8% -27% Home Depot Inc. HD, -0.68% -0.7% 15.9% -8% Walt Disney Co. DIS, -0.24% -0.5% 21.9% -6% Verizon Communications Inc. VZ, -0.39% -0.4% 1.4% -9% UnitedHealth Group Inc. UNH, -0.46% -0.1% -7.0% -20% McDonald's Corp. MCD, +0.73% -0.1% 11.1% -1% Chevron Corp. CVX, +1.71% 1.1% 8.9% -12% Source: FactSet
You can click on the tickers for more about each company.
Among the S&P 500, 451 stocks were down in early trading Monday. Here are the 10 with the biggest declines:
Company Ticker Price change - May 6, 2019 Price change - 2019 Decline from 52-week intraday high Affiliated Managers Group Inc. AMG, -11.12% -7.7% 4.9% -56% Stanley Black & Decker Inc. SWK, -4.70% -4.9% 21.6% -18% IPG Photonics Corp. IPGP, -5.10% -4.8% 44.1% -38% Wynn Resorts Ltd. WYNN, -5.01% -4.8% 41.9% -44% Fastenal Company FAST, -5.04% -4.6% 29.3% -6% Advanced Micro Devices Inc. AMD, -3.51% -4.4% 46.1% -44% Micron Technology Inc. MU, -3.61% -4.3% 30.7% -57% Deere & Co. DE, -4.10% -4.2% 7.1% -9% Tiffany & Co. TIF, -4.26% -4.0% 30.6% -26% Microchip Technology Inc. MCHP, -4.77% -3.9% 34.6% -7% Source: FactSet
And here are the 10 S&P 500 stocks that bucked the downward trend the most early Monday, led by Anadarko Petroleum APC, +3.81% which is very much in play with competing takeout bids from Chevron CVX, +1.71% and Occidental Petroleum OXY, +1.60%
Company Ticker Price change - May 6, 2019 Price change - 2019 Decline from 52-week intraday high Anadarko Petroleum Corp. APC, +3.81% 3.1% 71.0% -34% Edison International EIX, +1.37% 2.1% 9.0% -26% Tyson Foods Inc. Class A TSN, +2.17% 1.6% 42.9% -10% Cigna Corp. CI, +0.92% 1.2% -18.6% -32% Sysco Corp. SYY, +3.00% 1.2% 13.9% -6% Cboe Global Markets Inc. CBOE, +1.18% 1.2% 4.4% -26% Chevron Corp. CVX, +1.71% 1.1% 8.9% -12% Red Hat Inc. RHT, +0.96% 0.9% 4.9% 0% Federal Realty Investment Trust FRT, +0.00% 0.8% 13.5% -22% TripAdvisor Inc. TRIP, +1.50% 0.8% 2.9% -50% Source: FactSet
Here are the 10 worst early performers among the Nasdaq-100 NDX, -1.32% led by China’s Ctrip.com CTRP, -5.09% :
Company Ticker Price change - May 6, 2019 Price change - 2019 Decline from 52-week intraday high Ctrip.com International Ltd. ADR CTRP, -5.09% -6.3% 53.0% -32% JD.com Inc. ADR Class A JD, -5.51% -5.6% 35.5% -44% Wynn Resorts Ltd. WYNN, -5.01% -4.8% 41.9% -44% Fastenal Co. FAST, -5.04% -4.6% 29.3% -6% Advanced Micro Devices Inc. AMD, -3.51% -4.4% 46.1% -44% Micron Technology Inc. MU, -3.61% -4.3% 30.7% -57% Microchip Technology Inc. MCHP, -4.77% -3.9% 34.6% -7% Applied Materials Inc. AMAT, -3.75% -3.7% 29.3% -32% NetEase Inc. ADR NTES, -2.98% -3.5% 17.1% -27% Nvidia Corp. NVDA, -2.87% -3.2% 32.7% -40% Source: FactSet
Don’t miss: Aerospace and defense stocks, even Boeing, are easily outpacing the broader market this year
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