U.S. stocks opened broadly lower today after President Trump over the weekend leveraged emergency powers to impose tariffs between 10% and 25% on China, Canada, and Mexico, in a move his administration says is aimed at curbing the flow of illegal immigration and drugs across the border. News of a temporary pause on Mexican tariffs has since provided some relief, allowing markets to recover partially.
However, with no such deal in sight yet for Chinese tariffs, the tech sector is lagging today. Artificial intelligence (AI) stocks like Nvidia (NVDA) have already been rocked recently by the emergence of DeepSeek, a disruptive Chinese AI company, and the prospect of a prolonged trade dispute with key trade partner Beijing is now weighing on the group. NVDA is down 3.2% at last check, with the AI chip giant now sitting on a loss of more than 13% for the year-to-date period.
Here’s a look at a few more of today’s notable decliners on the Nasdaq Composite ($NASX), which is pacing for a daily close beneath its 50-day moving average.
Tesla (TSLA)
The electric vehicle (EV) stock is down 6.45% intraday, as China is a key trade partner for Tesla. The country is one of Tesla's largest markets for EVs, and Tesla has a significant manufacturing presence in China with its Gigafactory in Shanghai. This factory not only serves the local market but also exports vehicles to other regions. Additionally, Tesla sources components and materials for batteries from China, making it an important part of Tesla's supply chain. Separately, TSLA reported a sharp drop in French EV sales earlier today.
Pinduoduo (PDD)
The U.S.-listed shares of Temu’s parent company have tumbled 5.43%, as potential China tariffs seem poised to strip the ecommerce company of its discount allure. Today’s bumpy ride is nothing new for PDD; today’s sell-off qualifies as only its fifth-worst daily drop since Trump’s election win.
Super Micro Computer (SMCI)
AI server stock SMCI, which counts Nvidia as a key customer, has tumbled 4.45%. Investors are currently awaiting Super Micro Computer’s quarterly earnings for more than one reporting period, as the company looks to resolve its Nasdaq listing status once and for all.
NewEgg (NEGG)
Online retailer NEGG specializes in computer hardware and consumer electronics, which is why the stock has taken a concentrated 5.3% hit amid today’s China tariff concerns. In fairness, though, penny stock NEGG has already lost 99% of its value since its July 2021 peak.
Vital Farms (VITL)
VITL, a small-cap producer of pasture-raised eggs, has plummeted more than 7.5% at last check. Various food-related names are sliding today, but VITL in particular is trading down amid reports that the avian flu continues to spread.
This article was generated with the support of AI and reviewed by an editor. On the date of publication, the editor had a position in: NVDA . All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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