Nike stock drops 8.31% on tariff fears, VIX spikes to 23.75%
Nike’s stock plunged 8.31% last week as tariff fears and a VIX surge to 23.75% prompted investors to swap manufacturing names for software. The Dow Jones Industrial Average slid 2.95% while IBM gained 7.76% and Microsoft added 4.13% on the shift.
1. Weekly Performance
Nike shares fell 8.31% over the past week, underperforming the Dow Jones Industrial Average, which dropped 2.95%. This marked one of Nike’s steepest weekly declines in recent months, reflecting intensified selling pressure on consumer goods manufacturers.
2. Rotation and Tariff Impact
Rising tariff concerns against imports and an increase in the Cboe Volatility Index to 23.75% triggered a rotation out of manufacturing names like Nike into software and data-driven firms. IBM surged 7.76% and Microsoft climbed 4.13% as investors favored companies with borderless revenue streams over goods exporters.