Why QuantumScape Stock Is Sinking Today
QuantumScape (NYSE: QS) stock is slumping in Wednesday's trading. The solid-state battery company's share price was down 4.2% as of 3:15 p.m. ET and had been down as much as 5.4% earlier in the day's trading.
While there isn't any fresh business-specific news for QuantumScape today, the company's valuation is retreating in conjunction with developments on the tariff front. The Trump administration is planning a new round of tariffs targeting semiconductors, automobiles, and pharmaceuticals, and the move could have a significant impact on the battery-tech specialist.
President Trump said yesterday that his administration is planning on introducing a new 25% tariff on foreign chips, autos, and pharmaceuticals. The tariffs are expected to be under review until April 1 and then go into effect the following day. Trump also left the door open for tariffs on those goods to continue rising above that level.
Source Fool.com
