From Yahoo Finance: 2025-03-28 05:10:00

Wall Street shares dipped on Thursday due to President Trump’s new tariffs on US imports. The Nasdaq dropped 0.53%, Dow Jones 0.37%, and S&P 500 0.33%. Car manufacturers led the decline after Trump announced a 25% tariff on all imported vehicles starting April 2.

General Motors Inc. (NYSE:GM) fell 7.36% on Thursday to $47.20 per share following Trump’s tariff announcement on imported vehicles, parts, and accessories. GM faces potential exposure in Mexico and higher taxes on international parts and services. JP Morgan downgraded GM’s rating to $53 per share.

GM received a one-month tax reprieve from Trump on autos coming from the US, Mexico, and Canada, ending on April 1. Despite its potential, GM ranks 9th on the list of firms mirroring Wall Street’s slump. AI stocks are seen as having greater potential for higher returns in a shorter time frame.

Read more: Why General Motors Inc. (GM) Went Down On Thursday?