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Economist Peter Schiff predicts that Nike will not shift production to the U.S. despite tariffs, leading to higher prices and reduced domestic sales for the footwear giant. This comes as Nike shares plummeted following President Trump's announcement of sweeping reciprocal tariffs affecting the company's supply chain.

The airline industry is facing a challenging year in 2025, with weakening demand and lower earnings expectations. Analysts predict a tough earnings season with reduced forecasts for the second quarter and full year, as several factors including macro uncertainty and weak consumer confidence have led to a decline in demand for air travel.

U.S. markets plunged on Thursday, erasing $2 trillion in value, as billionaire entrepreneur Mark Cuban warned consumers to stock up on everyday items before retailers use new tariffs to justify widespread price increases. The S&P 500 fell 4.93%, with technology giants like Apple and Amazon experiencing particularly steep declines.

The market experienced a severe downturn as the S&P 500, Nasdaq, and Dow Jones all registered significant losses amid mounting fears of retaliatory trade actions. In addition, several high-profile stocks, including RH, Five Below, Sangamo Therapeutics, Bank of America, and Tesla, saw substantial declines driven by disappointing earnings and broader economic concerns.

Goldman Sachs analyst Brooke Roach detailed how the newly implemented U.S. reciprocal tariffs are set to affect retail companies by increasing costs for goods sourced from key international markets. The analysis breaks down tariff hikes on major countries like China, Vietnam, Indonesia, Bangladesh, Cambodia, and India, while also outlining which sectors and companies might be better shielded from the financial pressure.