Tariff Shock Wipes $318 Billion From Sports Stocks in a Week
As reported by multiple sources, including Sportico, the stock market reaction to the global Trump tariffs has chopped $318 billion in value from sports stock in a week, according to Sportico data.
That’s nearly 10% of the value of the sector. Sports stocks were worth $3.36 trillion last Wednesday. They’re worth $3.04 trillion today. That bloodletting is after accounting for the market’s bounce late Monday and into Tuesday. U.S. stocks fell more than 15%, peak to trough, from April 2 to the lows at the start of trading this Monday. They recovered slightly to be down about 11.5% through Tuesday, according to the Dow Jones Total Stock Market Index, which tracks every U.S. listed stock with a readily available price.
Read the complete story from Sportico HERE
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Author: David Keech
David Keech is a retired teacher and works as a sportswriter, sports official and as an educational consultant. He has reported on amateur sports since 2011, known as 'KeechDaVoice.' David can be reached at [email protected]
