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Stock market today: Dow, S&P 500, Nasdaq futures slide as investors brace for Trump's tariff bazooka

Newsmax (NMAX) shares took a breather from their massive post-IPO rally on Wednesday, falling around 25% in premarket trading.

The pullback follows a 180% gain for the stock on Tuesday, which built on an eye-popping 735% surge on Monday on the heels of the conservative news outlet’s public market debut.

Newsmax raised $75 million in its IPO Friday, with shares priced at $10, Yahoo Finance’s Laura Bratton reports. The outlet’s rapid ascent in its first two days of trading pushed its market cap to $20.8 billion Tuesday afternoon, with shares ending the trading session at $234.

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