By Katy Barnato
Illumina (ILMN): Beijing said it is banning the U.S. biotech from exporting gene sequencers to China, after the Trump administration's latest tariff move. Illumina shares fell nearly 3% in premarket trading.
Nvidia $(NVDA)$: The AI chip maker's stock was heavily traded premarket, after sliding nearly 9% Monday. Investors are worried about tariffs, and the potential for further export restrictions that could curb Nvidia's business in China.
General Motors $(GM)$; Ford Motor $(F)$; Stellantis $(STLA)$: Late Monday, an auto lobbying group said tariffs on Mexico and Canada would hinder investment in U.S. factory jobs. The group asked for automakers that comply with the existing free-trade pact to be spared. Shares in Jeep maker Stellantis slid in Europe.
Earnings are due from Target $(TGT)$, AutoZone $(AZO)$ and Best Buy $(BBY)$ among other U.S. companies early Tuesday. Economists say businesses will probably pass the cost of tariffs onto consumers, meaning higher prices in stores are likely.
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(END) Dow Jones Newswires
March 04, 2025 05:56 ET (10:56 GMT)
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