Walmart, Target, and Other Retail Stocks Sink as Investors Digest Trump Tariffs By Aaron McDade Full Bio Aaron McDade is a breaking news reporter for Investopedia. He is an experienced journalist who has covered everything from the latest in business and tech news to sports and international news like the war in Ukraine for respected outlets like Business Insider and Newsweek. Learn about our editorial policies Updated April 03, 2025 09:36 AM EDT President Donald Trump announcing tariffs at the White House on April 2, 2025. Chip Somodevilla / Getty Images Close Key Takeaways Shares of several major retailers sank Thursday after the Trump administration announced sweeping reciprocal tariffs against U.S. trading partners. Target, Walmart, Dollar Tree, Best Buy, Dollar General, and Five Below shares all lost ground in recent trading.Executives have warned profit margins could be pressured by tariffs, noting they would likely also raise prices. Shares of Walmart (WMT), Target (TGT), and other retailers sank Thursday after the Trump administration announced sweeping reciprocal tariffs against U.S. trading partners. Shares of Best Buy, Dollar Tree (DLTR), Dollar General (DG), Costco Wholesale (COST), Five Below (FIVE), and Macy's (M) also lost ground amid a broader market decline, with Dollar Tree and Best Buy shares down over 11%, and Five Below shares tumbling 25% in recent trading. President Donald Trump on Wednesday afternoon outlined a broad new set of tariffs against goods from dozens of countries, set to take effect April 9. A number of retailers like Target and Best Buy (BBY) have previously warned that such tariffs could negatively impact their profit margins unless they and their suppliers raise prices. Amid uncertainty about the impact tariffs will have on the economy, The National Retail Federation on Wednesday projected retail spending growth could slow in 2025. Several economists warned after Wednesday's announcement that the higher-than-expected tariff rates could lead to higher prices, while some suggested that the April 9 deadline leaves time for negotiations. UPDATE—April 3, 2025: This article has been updated since it was first published to reflect more recent share price values. Do you have a news tip for Investopedia reporters? Please email us at [email protected] Compare Accounts Advertiser Disclosure × The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. Read more News Markets News Partner Links Take the Next Step to Invest Advertiser Disclosure × The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.