In a recent development, Vietnam’s General Secretary, To Lam, announced that the country is prepared to lower tariffs by 20%. He also called on the United States to reciprocate this gesture. During discussions with President Trump, they agreed to further talks to establish a bilateral agreement aiming for zero tariffs. To sweeten the deal, an invitation was extended for President Trump to visit Vietnam, which he has accepted.
This news had a positive ripple effect in the stock market, particularly for Nike, whose shares jumped by $2.69, or 4.85%, closing at $58.28. Earlier in the trading session, the price had dropped to a low point of $3.08. The previous day, Nike experienced a price drop of $9.38. Overall, since February 26, Nike has seen a decline of 38.32%, and the shares remain down by 8.42% for the current week.
Lululemon also saw an uptick, with shares rising by $7.87, or 3.08%. Despite this, at its lowest point today, the price had tumbled by $20.81. Beginning from January 31, Lululemon’s price has been on a downward trend, losing 44.47%. Yesterday alone, the price dropped by $27.10. For the week, the shares are still down by 10.5%.
