Why MicroStrategy Stock Plummeted Today
Shares of Strategy (NASDAQ: MSTR), formerly known as MicroStrategy, fell on Thursday. The company's stock lost 8.8% as of market close and was down as much as 12.7% earlier in the day. The steep decline outpaces the S 500's (SNPINDEX: ^GSPC) and Nasdaq Composite's (NASDAQINDEX: ^IXIC) worst single-day drop in years.
President Trump's sweeping tariff announcement has sent shock waves through the market, especially affecting riskier assets like Strategy.
Strategy is feeling the pressure after President Trump's announcement of far-reaching new tariffs on nearly all U.S. trading partners. The extensive package includes a 34% tax on imports from China, 20% on the European Union, and a 10% baseline tax on all countries, representing what economists are calling the most significant disruption to global trade in nearly a century.
Source Fool.com
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