US PRE-MARKET MOVERS: China stocks, Mag7, BAM, ABBV, INTC/TSM, GS, BP

ES -4% NQ -4.3% RTY -5.5%

Stocks slump further as China retaliates with extra 34% tariff on US goods

• China stocks BABA -10% BIDU -8% JD -10% XPEV -8%: China announces extra 34% tariffs on US goods, imposed from April 10th


• Mag-7 AAPL -6.5% NVDA -3.5% AMZN -7% META -6.5% GOOGL -4% MSFT -5% TSLA -7.5%


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  BAM -4%: Set to acquire Colonial Pipeline for ~$9bln incl. debt


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  ABBV -1%: Guides next Q & FY EPS lower


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  INTC -5% & TSMC -4.5% reach prelim agreement to form a JV operating Intel’s factory, w/ TSMC taking a 20% stake


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  GS -6%: Downgraded at Daiwa


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  BP -5%: Chairman Helge Lund has announced plans to step down “in due course”

04 Apr 2025 - 12:31- EquitiesUS Research- Source: Newsquawk