Why Did Palantir Stock Drop Today?
Shares of Palantir Technologies (NASDAQ: PLTR) fell today, finishing down 2%, but fell as much as 5.2% earlier in the day. The drop came as the S 500 (SNPINDEX: ^GSPC) lost 0.3% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was flat.
The artificial intelligence (AI) powerhouse saw shares slide after news that semiconductor tariffs could soon hit chipmakers, sparking fears that margins could be impacted for companies that rely on inference like Palantir.
At a dinner last night with Silicon Valley CEOs, President Donald Trump said that companies that do not shift production to the U.S. will soon face a "fairly substantial" tariff on the chips they sell into the U.S. Trump did, however, indicate there would be exceptions, though the details are unclear.
Source Fool.com
