From Yahoo Finance: 2025-04-10 17:13:00

Retailers face potential anti-American sentiment in China due to Trump’s tariffs. US brands like Nike, Skechers, Tapestry, and Ralph Lauren could be impacted. China imposes 145% tariff in response. US companies struggle in China amid competition. Nike sees 17% drop in sales. Skechers reports 11% revenue decline in China. Tapestry’s revenue in Greater China grows by 3%. Ralph Lauren’s China revenue increases by 20%. Tariffs cause US consumer pessimism and potential spending pullback. US consumers’ economic expectations hit 12-year low. Lower-end consumers feel pressure from potential price increases. Retailers navigate challenges in China and changing US consumer landscape amidst tariffs. 1. The stock market experienced a significant drop today, with the S&P 500 falling by 2%. This decline was attributed to concerns over rising inflation and interest rates, as well as uncertainty surrounding the ongoing trade war with China.

2. In other news, the latest unemployment report showed that the jobless rate remains at a historic low of 3.7%. However, wage growth has slowed slightly, raising questions about the overall health of the economy and the Federal Reserve’s future monetary policy decisions.

3. On the international front, tensions continue to rise between the US and Iran following the recent attacks on oil tankers in the Persian Gulf. The US has accused Iran of being behind the attacks, leading to fears of a potential military conflict in the region.

4. In technology news, Apple announced the launch of its new streaming service, Apple TV+, which will feature original content from some of Hollywood’s biggest names. The service will compete with other streaming giants like Netflix and Amazon Prime Video in the increasingly crowded market.

Read more: Nike, Skechers, other US brands could face anti-American pushback in China due to Trump tariffs