Why AMD Stock Is Plummeting Today
Advanced Micro Devices (NASDAQ: AMD) stock saw a day of big sell-offs Thursday. The semiconductor company's share price wound up down 8.4% in a day of trading that saw the S 500 fall 3.5% and the Nasdaq Composite fall 4.4%.
The stock market followed Wednesday's surge on tariff news with substantial sell-offs today as more information about import taxes on China came into focus. While President Donald Trump had stated that tariffs on the country would rise from 104% to 125% in a message posted yesterday, it turns out the new effective import tax rate on Chinese products is actually now at 145%.
AMD stock saw huge gains in yesterday's trading after Trump announced a 90-day pause on tariffs for countries other than China, but it experienced valuation retracement today after the White House stated that the 125% tariff rate on Chinese goods cited by the president was actually in addition to an existing import tax of 20% on products from the country.
Source Fool.com
Advanced Micro Devices Inc. Stock
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