Stocks jumping for companies with Chinese importspublished at 15:47 British Summer Time 12 May
Natalie Sherman
New York business reporter
Bob Doll, chief executive of Crossmark Global Investment, has been speaking to Michelle Fleury on Opening Bell about the stock market, where shares in companies that bring in goods from China are, unsurprisingly, surging.
Shares in Target, for example, have jumped more than 5%, while Nike is up more than 8%.
Oil prices and the dollar have risen too.
Despite the optimism on Wall Street this morning, Doll says the announcement does not completely clear up economic risks.
Businesses and households have had their confidence shaken, and the rise in tariff rates remains significant. Even the reduced 30% tariff rate could drive exports from China to the US down by more than a third, according to Macquarie Bank.
“From Liberation Day to now, uncertainty levels have moved up a lot and getting…
