Why Palantir Stock Is Plummeting Today
Shares of Palantir (NASDAQ: PLTR) fell on Friday. The company's stock had lost 10.6% as of 2:30 p.m. ET and as much as 14% earlier in the day. The drop comes as the S 500 and the Nasdaq Composite both fell by more than 5%.
The artificial intelligence (AI) software provider's stock is facing pressure from escalations in the ongoing trade war.
President Donald Trump's Wednesday announcement of sweeping new tariffs on countries across the globe has sent the market reeling. The tariffs, which include a 34% tax on Chinese imports, 20% on European Union goods, and a baseline 10% tax on all countries, are the most significant trade action since the 1930s.
Source Fool.com
