Why BigBear.ai Stock Is Plummeting Today
BigBear.ai (NYSE: BBAI) stock is seeing big sell-offs in Wednesday's trading. The software company's share price was down 18% as of 12:30 p.m. ET. Meanwhile, the S 500 (SNPINDEX: ^GSPC) was down 0.3%, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was down 0.5%.
BigBear.ai stock is getting hit hard in today's trading due to reports that President-elect Trump could take drastic steps to quickly implement his desired tariff policy. The company's share price is also losing ground due to bearish coverage on Palantir Technologies (NASDAQ: PLTR) stock.
Before the market opened today, reports emerged that President-elect Trump could declare a national economic emergency once he enters office. By declaring a national emergency, Trump could utilize special powers granted to the president through the International Economic Emergency Powers Act that would allow him to rapidly implement wide-ranging tariffs on goods produced outside the country.
Source Fool.com
