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High-Flying Defense Stocks Sink as Tariffs Upend Supply Chains

(Bloomberg) -- Europe’s defense and aerospace stocks plunged on fears that US tariffs could upset the industry’s supply chains, and as investors booked profits on some of the region’s best-performing shares of 2025.Most Read from BloombergHousing Agency Aims to Relocate Its DC HeadquartersBoston Mayor Wu Embraces Trump Resistance as Campaign Heats UpThis Skinny Mexico City Tower Is Just 14 Feet Wide on One SideThe Irish Hot Press Is the Low-Tech Laundry Trick the World NeedsWhat Would ‘Transport

Dimon, Ackman warn on tariffs as Wall Street roiled by trade war

Wall Street leaders issued warnings on U.S. tariffs, with JPMorgan Chase CEO Jamie Dimon saying they could have lasting negative consequences, while fund manager Bill Ackman said they could lead to an "economic nuclear winter." In Dimon's annual letter to shareholders, published on Monday following a rout last week that wiped off trillions of dollars from global stock markets, he expressed concern about how the tariffs would impact America's long-term economic alliances. "The economy is facing considerable turbulence (including geopolitics)," Dimon wrote.

Analysis-European stocks' stellar start to 2025 snuffed out as tariffs cloud Q1 earnings

European equities' impressive start to 2025 has been obliterated in three sessions of heavy selling, while executives tot up the potential impact of U.S. tariffs on supply chains, possibly forcing them to ditch previous financial predictions. U.S. President Donald Trump's tariffs are more sweeping than many market players feared, sending global stocks plummeting as investors flee to safe-haven assets amid recession worries. Companies in Europe's STOXX 600 index, which had its best first-quarter relative to the U.S. S&P 500 in a decade, had been expected to report unbroken quarterly earnings growth through 2025 and into 2026, according to LSEG data.

Nations puzzle over how to respond to US trade war as global markets gyrate

America’s trading partners wrestled with responses to U.S. President Donald Trump's blast of tariff hikes and some planned to send negotiators to Washington, while the head of the European Union’s executive commission offered mutual reduction of tariffs - while warning that retaliation was an option too. China has already hit back against the U.S. with retaliatory tariffs and similar actions from Europe and elsewhere remain a significant possibility. The U.S. and the EU had a zero-for-zero deal on wine and spirits from 1997 to 2018, and reducing many tariffs to zero was a goal of complex negotiations for a US-Europe free-trade deal before negotiations stalled in 2016.

Britain's JD Sports underperforms market rout on US exposure

Shares in British sportswear retailer JD Sports Fashion underperformed a stock market rout on Monday, reflecting both its heavy exposure to key partner Nike and U.S. tariffs. Ahead of a trading and strategy update scheduled for Wednesday, shares in JD Sports were down 6%, taking losses over the last month to over 18%. The FTSE 100 index of blue chip stocks was down 4% on fallout from U.S. President Donald Trump's tariff announcement last week.

Markets Tumble as Three-Day Selloff Wipes Out $9.5 Trillion

(Bloomberg) -- The carnage in financial markets worsened on Monday with stressed-out investors abandoning hopes that President Donald Trump would change his tariff policy.Most Read from BloombergHousing Agency Aims to Relocate Its DC HeadquartersBoston Mayor Wu Embraces Trump Resistance as Campaign Heats UpThis Skinny Mexico City Tower Is Just 14 Feet Wide on One SideThe Irish Hot Press Is the Low-Tech Laundry Trick the World NeedsWhat Would ‘Transportation Abundance’ Look Like?Stocks tumbled, t