Apple, Tesla, JPMorgan and Eli Lilly fall premarket

07 Apr 2025 17:25

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Economics
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Apple, Tesla, JPMorgan and Eli Lilly fall premarket

Source: Xinhua

U.S. stock futures continued to slide Monday, as U.S. President Donald Trump doubled down on his sweeping tariffs policy, raising fears of a global recession, News.az reports citing Xinhua.

Here are some of the biggest premarket U.S. stock movers today:

Tesla (NASDAQ:TSLA) stock fell 6.5%, adding to the more than 40% losses in 2025, as the EV manufacturer’s supply chain faces headwinds from the new tariffs while CEO Elon Musk’s political activities have incited boycotts and protests globally.
Apple (NASDAQ:AAPL) stock fell 6.3% after Wedbush lowered its price target for the iPhone maker, citing significant concerns over the impact of tariffs on the company’s cost structure and consumer demand.
JPMorgan (NYSE:JPM) stock fell 3%, Morgan Stanley (NYSE:MS) dropped 3.8% and Goldman Sachs (NYSE:GS) slipped 3.5%, with the banking sector hit by fears that the trade war could temper consumer confidence, reduce spending, weaken loan demand and pressure fees from advising on deals.
Eli Lilly (NYSE:LLY) stock fell 4.2% after the Trump administration decided against expanding coverage for weight-loss drugs, as it finalized new Medicare and Medicaid policies.
MicroStrategy (NASDAQ:MSTR) stock slumped 10%, with the largest corporate holder of bitcoin suffering as the digital currency traded sharply lower given the period of risk aversion.
JetBlue (NASDAQ:JBLU) stock fell 4.3%, following the wider market lower even as Raymond James upgraded its stance on the airline to “outperform” from “market perform”, turning more optimistic for the company’s future.
Starbucks (NASDAQ:SBUX) stock fell 3.6% after Baird downgraded its stance on the coffee chain to “neutral” from “outperform”, moving to the sidelines in this difficult period.
Viatris (NASDAQ:VTRS) stock rose 2% after the drugmaker said it would pay up to a maximum of $335 million over nine years as part of a nationwide settlement to resolve opioid-related claims.
WK Kellogg (NYSE:KLG) stock fell 2.8% after the state of Texas said it has opened a probe into the breakfast cereal maker, saying it could be violating state laws by advertising its products as "healthy."