Cenovus Energy Inc. (CVE) stock dropped 13.07% due to trade war concerns.

From Yahoo Finance: 2025-04-05 02:49:00

The stock market plummeted on Friday due to escalating trade tensions between China and the US, with the S&P 500, Nasdaq, and Dow Jones all dropping over 5%. China retaliated with a 34% tariff on US goods following President Trump’s tariffs on all imports, sparking market pessimism and steep losses.

Cenovus Energy Inc. (CVE) saw a 13.07% drop in share prices on Friday, marking its second consecutive day of losses. The Canada-based oil and gas company is facing risks from the global trade war, with operations in the US, Canada, and Asia Pacific regions. Despite analysts’ optimistic rating, CVE ranks 9th on the list of worst performing stocks.

CVE operates refineries in Illinois and Texas, along with offshore operations in China and gas fields in Indonesia. Despite potential as an investment, AI stocks are seen as more promising for higher returns in a shorter time frame. Investors are advised to consider AI stocks over CVE for better performance in the current market conditions.

Read more: Why Cenovus Energy Inc. (CVE) Performed Worst On Friday?