tradingkey.logo

US big banks slump on Trump's tariffs

ReutersApr 3, 2025 8:59 AM

** Shares of big U.S. banks fall premarket after President Trump said on Wednesday he would impose a 10% baseline tariff on all imports to the U.S. and higher duties on dozens of other countries

** The tariffs appeared to target about 60 countries, base 10% tariffs go into effect on April 5 and the higher reciprocal rates on April 9

** Investment banks are expected take a hit as tariff-driven uncertainty dampens dealmaking and capital markets activity, while lower consumer confidence could also curb spending and dampen loan demand

** JPMorgan Chase JPM.N falls 3.2%, Bank of America BAC.N down 3% and Citigroup C.N down 3.4%

** Goldman Sachs GS.N sheds 4%, Morgan Stanley falls MS.N 4.1% while Wells Fargo WFC.N down 4%

** Big banks begin reporting their quarterly results next week

Reviewed byEsteban Ma
Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Related Articles

tradingkey.logo
tradingkey.logo
Intraday Data provided by Refinitiv and subject to terms of use. Historical and current end-of-day data provided by Refinitiv. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.
* References, analysis, and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgement of the analyst, without considering the investment objectives and financial situation of the investors.
Risk Warning: Our Website and Mobile App provides only general information on certain investment products. Finsights does not provide, and the provision of such information must not be construed as Finsights providing, financial advice or recommendation for any investment product.
Investment products are subject to significant investment risks, including the possible loss of the principal amount invested and may not be suitable for everyone. Past performance of investment products is not indicative of their future performance.
Finsights may allow third party advertisers or affiliates to place or deliver advertisements on our Website or Mobile App or any part thereof and may be compensated by them based on your interaction with the advertisements.
© Copyright: FINSIGHTS MEDIA PTE. LTD. All Rights Reserved.