What Happened?

A number of stocks fell in the afternoon session after the Trump administration's announcement of new global tariffs, reignited trade policy uncertainty. 

The move came swiftly after the Supreme Court ruled the previous week that the president could not use the International Emergency Economic Powers Act (IEEPA) for such duties, a decision that had initially sent markets higher. However, the administration invoked a different authority, the Trade Act of 1974, to impose a 15% global tariff for up to 150 days. The rapid reimposition of trade barriers creates significant uncertainty for companies across multiple sectors that depend on international supply chains and global trade. Investors are now weighing the potential impact of these new duties on corporate earnings and broader economic activity.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Consumer Discretionary - Toys and Electronics company Bark (NYSE: BARK) fell 5%. Is now the time to buy Bark? Access our full analysis report here, it’s free.
• Consumer Discretionary - Apparel and Accessories company Under Armour (NYSE: UAA) fell 6.6%. Is now the time to buy Under Armour? Access our full analysis report here, it’s free.
• Consumer Discretionary - Consumer Electronics company Peloton (NASDAQ: PTON) fell 5.7%. Is now the time to buy Peloton? Access our full analysis report here, it’s free.
• Consumer Discretionary - Apparel and Accessories company Levi's (NYSE: LEVI) fell 5.5%. Is now the time to buy Levi's? Access our full analysis report here, it’s free.
• Consumer Discretionary - Apparel and Accessories company PVH (NYSE: PVH) fell 5.5%. Is now the time to buy PVH? Access our full analysis report here, it’s free.

Zooming In On Under Armour (UAA)

Under Armour’s shares are very volatile and have had 20 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 3 days ago when the stock gained 5.2% on the news that the Supreme Court struck down sweeping Trump tariffs, bringing potential relief to companies impacted by international trade disputes. 

The ruling was seen as a significant win for sectors reliant on global supply chains, as tariffs, which are essentially taxes on imported goods, have increased operating costs and squeezed profit margins for many U.S. companies. The removal of these levies is expected to lower expenses for manufacturers and retailers, potentially leading to more competitive pricing and stronger earnings. This positive development appeared to outweigh earlier concerns in the session regarding reports of slowing economic growth and rising inflation, with the broader market, including the S&P 500, ticking higher on the news. In response to the ruling, the Trump administration announced plans to impose a new 10% global tariff.

Under Armour is up 43.2% since the beginning of the year, and at $7.58 per share, it is trading close to its 52-week high of $8.14 from February 2026. Investors who bought $1,000 worth of Under Armour’s shares 5 years ago would now be looking at an investment worth $347.32.

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