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Why U.S. Steel Stock Surged 14% in a Turbulent Market Today
The markets are swooning in response to President Trump's global tariff rollout plan. The Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), Nasdaq Composite (NASDAQINDEX: ^IXIC), and Russell 2000 each hit 52-week lows today.Another move by Trump has shares of U.S. Steel (NYSE: X) soaring today, though. U.S. Steel shares were trading near the day's high, up 14.5% as of 2:58 p.m. ET. That's because Donald Trump ordered a new review of the potential acquisition of U.S. Steel by Japan's Nippon Steel. The $55-per-share offer would represent a 44% gain from Friday's closing price.Both former President Biden and President Trump have previously expressed their opposition to Nippon Steel buying the iconic U.S. steelmaker. In a directive released by the White House today, though, Trump stated:Continue reading
The markets are swooning in response to President Trump's global tariff rollout plan. The Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), Nasdaq Composite (NASDAQINDEX: ^IXIC), and Russell 2000 each hit 52-week lows today.
Another move by Trump has shares of U.S. Steel (NYSE: X) soaring today, though. U.S. Steel shares were trading near the day's high, up 14.5% as of 2:58 p.m. ET. That's because Donald Trump ordered a new review of the potential acquisition of U.S. Steel by Japan's Nippon Steel. The $55-per-share offer would represent a 44% gain from Friday's closing price.
Both former President Biden and President Trump have previously expressed their opposition to Nippon Steel buying the iconic U.S. steelmaker. In a directive released by the White House today, though, Trump stated:
