Steel stocks whipsaw back to sharp gains after Trump unveils tariff plan [MarketWatch]
AK STEEL HOLDINGS (AKS)
Last ak steel holdings earnings: 2/20 07:00 am
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Source: MarketWatch
Steel stocks whipsaw back to sharp gains after Trump unveils tariff plan Shares of steel makers seesawed back to sharp gains in midday trade Thursday, after President Donald Trump said it would impose a 25% tariff on steel imports and a 10% import on aluminum imports. Shares of AK Steel Holding Corp. AKS, +9.69% shot up 11.9%, U.S. Steel Corp. X, +6.70% ran up 7.8%, Nucor Corp. NUE, +3.21% climbed 3.2%, Commercial Metals Co. CMC, +4.96% surged 5.5% and Steel Dynamics Inc. STLD, +3.81% rallied 4.3%. Aluminum maker Alcoa Corp. AA, +1.11% shares rose 2.6%. The stocks had surged ahead of the open in anticipation of an announcement, the pulled back sharply in morning trade after a CNBC report that Trump won't announce tariffs, before rallying again. The stocks' gains comes as the S&P 500 SPX, -1.25% shed 0.4% and the Dow Jones Industrial Average DJIA, -1.55% gave up 143 points.
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