Which industries have been most negatively impacted by the combination of new tariffs and market volatility?


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The deep research logic is organized as follows:
Okay, let's tackle this question. The user is asking which industries have been most negatively impacted by the new tariffs and market volatility. From the references provided, I need to identify the sectors that are struggling the most.
First, looking at the sector percentage changes in Reference 1, the top 5 are Homebuilding, Footwear, Computer & Electronics Retail, Homefurnishing Retail, and Textiles, Apparel & Luxury Goods. But wait, the user is interested in the most negatively impacted, so maybe I should look for sectors with significant declines. However, the data in Reference 1 shows positive percentage changes, which might be a bit confusing. Maybe the negative impact isn't directly reflected here, or perhaps the data is from a different timeframe. I need to check other references for more context.
References 2, 3, 4, 5, and 7 discuss the broader market impact. The S&P 500 and Nasdaq have had significant drops, with tech and growth-oriented sectors hit hard. Reference 12 mentions e-commerce software vendors being exposed due to tariffs affecting international supply chains. That's a key point. Also, Reference 11 talks about NVIDIA's stock dip due to tariff threats and economic concerns.
Looking at Reference 14, it states that firms importing from tariff-affected countries are expecting higher costs, which would impact their margins. Industries like tech, which rely heavily on global supply chains, would be vulnerable. Reference 15 lists retail and e-commerce companies like Walmart and Target as being affected.
References 17, 18, 19, 20, 21 discuss the semiconductor industry, particularly NVIDIA and AMD, facing challenges due to tariffs. The tech sector, especially hardware and semiconductor companies, seems to be a major loser here.
Reference 22 mentions that Goldman Sachs expects a drag on corporate spending and hiring, which could affect sectors like tech and e-commerce. Reference 23 and 24 focus on e-commerce, noting that higher tariffs could increase costs and reduce consumer spending, impacting companies like Amazon and eBay.
References 30 and 31 discuss the impact on manufacturing and trade-dependent sectors, which aligns with the tech and e-commerce sectors.
Putting this all together, the most negatively impacted industries are likely the tech sector (semiconductors, hardware), e-commerce, and possibly consumer discretionary sectors like homebuilding and textiles. However, the user's profile mentions interest in tech, e-commerce, and ESG themes, so I should highlight those.
I need to structure the answer by identifying the key sectors, citing the relevant references, and explaining why they're affected. Also, include visualizations where required. Make sure to follow the format and citation rules strictly.
Conclusion: The combination of new U.S. tariffs and market volatility has disproportionately impacted semiconductors, e-commerce, and consumer discretionary sectors, driven by supply chain disruptions, margin pressures, and retaliatory trade measures. Below is a detailed breakdown of the most negatively affected industries.
1. Semiconductor and Tech Hardware
- NVIDIA (NVDA) and AMD have faced severe declines due to tariffs on Chinese imports (e.g., 54% tariffs on Chinese goods) and rising costs for semiconductor production 12.
- Goldman Sachs estimates a 2-3% reduction in S&P 500 EPS due to higher input costs, with tech firms particularly vulnerable 4.
- Taiwan Semiconductor Manufacturing (TSM) and other global chipmakers are squeezed by retaliatory tariffs and supply chain bottlenecks 12.
percentage change(411)percentage change rank from largest to smallest 5(5)
Real-time Price | Real-time Percentage Change% | Percentage Change%2025.04.04 | Percentage Change ranking2025.04.04 |
---|---|---|---|
1.33K | 3.46% | 3.46 | 1/411 |
686.46 | 3.25% | 3.25 | 2/411 |
846.09 | 1.89% | 1.89 | 3/411 |
644.74 | 1.68% | 1.68 | 4/411 |
764.99 | 1.36% | 1.36 | 5/411 |
Index Name |
---|
Homebuilding (Sub-Industry) |
Footwear (Sub-Industry) |
Computer & Electronics Retail (Sub-Industry) |
Homefurnishing Retail (Sub-Industry) |
Textiles, Apparel & Luxury Goods (Industry) |
View 5 results
2. E-Commerce and Retail
- E-commerce platforms (e.g., Amazon, eBay) are exposed to tariffs on cross-border transactions, with BofA warning of margin compression and reduced consumer spending 56.
- Walmart, Target, and Best Buy face higher costs for imported goods, particularly from China and Southeast Asia 7.
- E-commerce software vendors (Shopify, Lightspeed) are at risk due to changes in de minimis exemptions and logistics costs 5.
3. Consumer Discretionary
- Homebuilding and Footwear sectors (e.g., Homebuilding Sub-Industry, Footwear Sub-Industry) saw sharp declines in Q1 2025, with tariffs on raw materials and labor costs amplifying pressures 89.
- Textiles and Apparel are directly impacted by 27% tariffs on Indian imports and 25% levies on Mexican goods 1011.
4. Global Supply Chain-Dependent Industries
- Climate tech and renewable energy face disruptions due to tariffs on solar panels and electric vehicle components 12.
- Manufacturing sectors (e.g., automotive, machinery) are squeezed by retaliatory tariffs from China and Europe 1314.
5. Broader Market Implications
- Tech-heavy Nasdaq entered a bear market (-20% from its peak) as investors flee growth stocks 15.
- Consumer spending forecasts for 2025 were slashed to 2.5% YoY, reflecting reduced purchasing power 16.
Final Insight: The tech and e-commerce sectors are at the epicenter of tariff-related risks, with semiconductor firms and global supply chain players bearing the brunt. Investors should monitor retaliatory measures and Fed policy responses to mitigate downside risks.
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