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On today's Market Minute, Brad Smith examines the trending stories on Wall Street during a volatile trading day.
Retail stocks, including Levi Strauss (LEVI), Ralph Lauren (RL), and PVH (PVH), are in focus after Citi analysts cut their forecasts for the companies, citing pricing power concerns amid tariffs.
Citi also downgraded Vans' parent company, V.F. Corporation (VFC), to Neutral from Buy, citing concerns about the company's turnaround plan for Vans.
US President Trump ordered a review of the deal between US Steel (X) and Nippon Steel (NPSCY), an acquisition his predecessor President Biden blocked.
Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance's Market Minute.
It's time for Yahoo Finance's Market Minute. Stocks whipsawing as President Trump threatens an additional 50% tariff on China. The Dow off over 1 and a half percent, and Citi, they cut their price targets and profit forecasts for several clothing makers including Levi's, Ralph Lauren, PVH, and more. The analyst saying they don't think the companies have enough pricing power to offset President Trump's new higher tariff rate. Citi also downgrading VF Corp to neutral from buy, the bank citing concerns that the company won't be able to turn its Vans brand around in the current environment, shares down just over 1%. And shares of US Steel jumping as President Trump orders a review of the company's deal with Nippon Steel. Former President Biden originally stopped Nippon from buying US Steel citing national security concerns. That is your Yahoo Finance Market Minute for more. On the what's trending on Yahoo Finance, scan the QR code below to track the best and worst performing stocks of this session.