On this episode of Stock Movers:
- Lululemon (LULU) shares are lower as President Trump's global tariffs weigh on crucial retail production countries including Vietnam and Indonesia. 40% of Lululemon's good are produced in Vietnam, which was hit with a 46% reciprocal tariff as part of President Trump's tariff plan.
- Apple (AAPL) stock is slumping after investors learned President Trump's tariffs will hit the company's supply chain and manufacturing centers in China, India, Vietnam, Malaysia, Thailand, and Ireland. The new tariffs will likely squeeze Apple's margins and may lead to price hikes, which could be challenging given shaky consumer sentiment.
- Tesla (TSLA) shares are down following the tariff announcement, following the stocks of chipmakers.. Electric vehicles require a lot of chips for production, the supply chain of which could be upended by tariffs. The leading U.S. maker of electric vehicles closed up 5.3% on Wednesday following a Politico report that said Tesla CEO Elon Musk plans to step away from his government role in the coming weeks.
- Eli Lilly (LLY) is sinking along with the other pharmaceuticals as sectoral tariffs are expected to be announced as well.

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