The major averages were sharply lower again near noon, continuing yesterday’s post-tariff slide. China has retaliated with additional tariffs of 34% on all U.S. goods a day after the Trump administration imposed its own sweeping levies. Meanwhile, the latest U.S. jobs data show that nonfarm payrolls rose by a higher-than-forecast 228,000 jobs, though the unemployment rate has ticked higher.

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Looking to commodities, oil prices are sharply lower due to a planned output increase promised by OPEC+ as well as concerns about what the trade war may due to global economic growth. Additionally, gold prices are falling nearly 2% to below $3,100.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

China has announced plans to place extra 34% tariffs on U.S. goods starting April 10 in retaliation to new tariffs from the U.S. March U.S. nonfarm payrolls rose 228,000, with unemployment rising to 4.2% AppLovin (APP) said it has provided an indication of interest to President Trump to explore a purchase of TikTok in all markets outside China Guess (GES) reported better-than-expected Q4 results and named Alberto Toni as its new CFO Nintendo (NTDOY) is delaying Switch 2 pre-orders in the U.S. to “assess the potential impact of tariffs”

2. WALL STREET CALLS:

Booking Holdings (BKNG) upgraded to Buy at BTIG ahead of expected Q1 beat Nordstrom (JWN) downgraded to Sell at Citi JPMorgan cut Tesla (TSLA) estimates on “unprecedented brand damage” Dow Inc. (DOW) downgraded to Neutral at JPMorgan BTIG downgraded Upwork (UPWK) with fundamentals “primed to take another leg down”

3. AROUND THE WEB:

Ford (F) is extending its employee discounts to all new car buyers, WSJ reports Stellantis (STLA) plans to extend its employee-discount program to the public on most new models, WSJ says Nio (NIO) has commenced a new round of layoffs in Europe in an effort to lower operational costs by 25% at a global scale, EV reports Meta’s (META) latest large language model for AI, Llama 4, is running behind schedule as the company has pushed back the release date of Llama 4 at least twice and could do so again, The Information says Oracle (ORCL) told customers a hacker broke into a computer system and stole old client log-in credentials, Bloomberg reports

4. MOVERS:

GameStop (GME) increases after announcing CEO Ryan Cohen bought 500K shares BCE (BCE) gains in New York after National Bank upgraded the stock to Outperform Toyota (TM) falls after Nikkei Asia said the company will help cover suppliers’ higher costs tied to tariffs DuPont China (DD) lower after China Daily reported China’s State Administration for Market Regulation has launched a probe into the company for suspected monopolistic practices Renovaro (RENB) slips after Predictive Oncology (POAI) terminated their merger transaction

Story Continues

5. EARNINGS/GUIDANCE:

American Shared Hospital (AMS) reported Q4 results, with EPS lower year-over-year Radius Recycling (RDUS) reported Q2 results, with EPS and revenue beating consensus Arqit Quantum (ARQQ) provided guidance for 1H of 2025 AbbVie (ABBV) provided guidance for Q1 and FY25 Lifecore (LFCR) reported Q3 results, with EPS missing consensus

INDEXES:

Near midday, the Dow was down 3.52%, or 1,425.30, to 39,120.63, the Nasdaq was down 3.87%, or 640.67, to 15,909.94, and the S&P 500 was down 3.96%, or 213.67, to 5,182.85.

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Ford offering employee discount to all new car buyers, WSJ reports General Motors (GM) Ramps Up U.S. Truck Production amid Tariff Concerns “From America, For America” Not Enough to Keep Ford Stock (NYSE:F) From Plunging Canadian PM says to match U.S. tariffs on passenger vehicles, Bloomberg says Ford Stock (F) Down after Recall Exposes Safety Flaw in 105,000 SUVs

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