Stocks Fluctuate Amid New Tariffs and Investor Concerns

NEW YORK — U.S. stocks experienced significant fluctuations in midday trading on Wednesday, influenced by new tariffs and broader economic uncertainties. Major companies including Apple, Walmart, and Tesla saw notable stock movements as investors reacted to recent announcements.

Apple’s shares rebounded by more than 5% after facing several days of selling pressure. The increase followed investor concerns over President Donald Trump‘s newly imposed 104% tariff on Chinese imports, which took effect on the same day. Apple, known for manufacturing most of its products in China, has been in the spotlight due to these ongoing trade tensions.

Walmart stocks also gained 5% during midday trading after Chief Financial Officer John Rainey revealed that the company tends to increase its market share during economically uncertain periods. Although Walmart scrapped its first-quarter operating guidance, it maintained its full-year expectations, indicating confidence in its ongoing business strategy.

Capri Holdings rallied by more than 10.3% amid reports that a potential deal to sell Versace to Prada is in jeopardy. The news affected investor sentiment, contributing to a surge in Capri shares as speculation surrounding the deal’s future continued.

Delta Air Lines reported a more than 7% increase in stock value, despite pulling its 2025 forecast. CEO Ed Bastian noted that tariffs are currently impacting bookings, yet the company’s stock remained resilient against broader market concerns.

In another noteworthy movement, shares of Trump Media & Technology Group advanced by 8%. Earlier in the day, Donald Trump announced on Truth Social, “THIS IS A GREAT TIME TO BUY!!! DJT,” highlighting optimism for his social media venture.

On the downside, bank stocks experienced a decline, with Citigroup, Wells Fargo, and JPMorgan Chase falling over 3%, 3%, and 0.6%, respectively. Analysts noted that fears of a possible recession are lingering in the financial markets, captivating investor attention.

Tesla, led by CEO Elon Musk, saw its shares rise more than 5% as it recovered from a recent downturn, despite facing significant losses of over 17% in the past week largely due to escalating trade tensions with China.

Meanwhile, pharmaceutical giants Eli Lilly, Pfizer, and AbbVie saw their shares tumble following President Trump’s Tuesday evening announcement that a major tariff on pharmaceuticals would be revealed shortly. AbbVie and Eli Lilly shares both dropped more than 4%, while Pfizer’s fell by 3%, reflecting investor concern over potential profit impacts from heightened tariffs.

CNBC‘s Jesse Pound, Michelle Fox, Yun Li, and Sean Conlon contributed reporting to this article.