Check out the companies making headlines in midday trading: Bank stocks — Major banks declined on Friday, as President Donald Trump’s new tariff policies increasingly raised fears of a U.S. economic pullback. Shares of JPMorgan , Morgan Stanley and Wells Fargo each tumbled more than 7%. about 8%. Goldman Sachs and Citigroup declined by about 7.8% and 7.9%, respectively. Tesla , Palantir Technologies — Top picks among retail investors were not able to buck Friday’s sell-off. Electric vehicle maker Tesla dropped 10.4%, while defense technology stock Palantir tumbled 11.5%. Property stocks — Real estate stocks Prologis and Simon Property Group slipped by about 3.3% and 4.7%, respectively, on Friday. Property stocks are sensitive to consumers’ discretionary spending levels. Apple — Shares of the iPhone maker slid 7.3% on China’s retaliatory duties against the U.S. China makes up for about 80% of Apple’s production capacity with about 90% of iPhones assembled in the country, according to Evercore ISI estimates. China funds — China-focused exchange-traded funds fell after the country’s finance ministry announced a 34% tariff on U.S. imports beginning April 10, in response to the Trump administration’s cumulative 54% duty on Chinese goods. The KraneShares CSI China Internet ETF (KWEB) declined more than 9%, while the iShares MSCI China ETF (MCHI) and the iShares China Large-Cap ETF (FXI) dropped 6.8% each. Chipmakers — Semiconductor stocks with notable exposure to China slipped. Shares of Marvell Technology fell about 11.2%, while Intel lost 11.5%. Nvidia and Broadcom shares lost 7.4% and 5%, respectively. Manufacturing stocks — Shares of farm and construction equipment manufacturers declined amid the latest tariff updates. Deere and CNH Industrial dropped 3.9% and 4.9%, respectively, while Caterpillar fell 5.8%. UBS analyst Steven Fisher said in a note to clients that “the trade dynamics are a headwind to the ag sector and to farm machinery companies, as farmers tend to prefer free trade, rather than rely on government payments.” Boeing , GE Aerospace — Boeing slid by 9.5%, and GE Aerospace plunged 16.5%. Trump’s raft of tariffs threaten to drive the cost of aircraft, engines and other aerospace products higher. Shell — Shares of the London-based energy company lost 8% after Trump’s tariffs led U.S. oil prices to drop to their lowest level since 2021 this week. Casino stocks — Casino operators in Macao declined on Friday. Shares of Las Vegas Sands slipped about 8.4%, while Wynn Resorts and MGM Resorts International each declined by more than 3.5%. — CNBC’s Alex Harring, Sean Conlon, Lisa Han and Hakyung Kim contributed reporting.
