Nike experienced a sharp drop in stock value immediately after the announcement of new tariffs by the President of the United States, Donald Trump. In just two hours, the stock price fell by 9% – tolerable for us in the cryptocurrency market, but quite rare on the traditional stock exchange. The main reason for this drop was the announcement of high, 46% tariffs on products imported from Vietnam. This is particularly significant for Nike, mainly because as much as 50% of global footwear production comes from this country. They took a big hit.
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