Stock Market Skittish After Trump Tariff Comments

President Trump recommended increased duties on the EU

Stocks are lower midday after President Trump called for 50% tariffs on the European Union (EU), and warned Apple (AAPL) of potential duties on iPhones made outside of the U.S. The Dow Jones Industrial Average (DJI) and Nasdaq Composite Index (IXIC) are both down triple digits, while the S&P 500 Index (SPX) sports a modest deficit as well. Meanwhile, new home sales in April rose 10.9% to a seasonally-adjusted annual rate of 743,000, the highest level since February 2022. 

Continue reading for more on today’s market, including:

• Analysts eye 2 software stocks after earnings. 
• Hoka parent headed for worst day since 2012. 
• Plus, options traders target INTU amid all-time highs; OKLO stock soars after executive order; and ROST plummets after withdrawing guidance. 

Options traders are targeting fintech stock Intuit Inc (NASDAQ:INTU) today, after the company posted better-than-expected fiscal third-quarter results, and issued upbeat current-quarter and full-year forecasts. So far, 17,000 calls and 8,769 puts have been exchanged, which is 7 times the stock’s average daily options volume. The weekly 6/6 790-strike call is the most popular, where new positions are being sold to open. At last check, INTU was up 8.8% at $724.86, and trading at new record highs. 

Nuclear technology stock Oklo Inc (NYSE:OKLO) was last seen up 26.8% at $50.37, enjoying sector tailwinds after President Trump issued an executive order aimed at revitalizing the industry. Hitting its highest levels since mid-February, OKLO is up 140% year-to-date. 

Retail stock Ross Stores Inc (NASDAQ:ROST) was down 14.5% at $130.20 at last glance, after the company withdrew its full-year forecast amid tariff uncertainty. Brushing off a first-quarter earnings beat, the stock is trading at its lowest levels since early April, and dropping into negative territory for 2025.