Nike Shares Tumble 3.98% as $1.12 Billion Volume Ranks 73rd Amid Trump Tariff Fears

Nike (NKE) fell 3.98% on Sept. 2, 2025, with a trading volume of $1.12 billion, ranking 73rd in market activity for the day. The decline came amid renewed concerns over U.S. tariff policies under the Trump administration, which could significantly impact the company’s cost structure. Fresh executive orders announced Thursday evening set new tariff rates ranging from 10% to 40% for global trading partners, with Vietnam and Indonesia facing 20% and 19% duties on exports to the U.S., effective Aug. 7. Nike, which sources 16% of its imported footwear from China and has shifted production to Vietnam, warned in June of $1 billion in tariff-related costs. The company plans to diversify its supply chain further and implement price hikes in the U.S. to offset the financial burden.

Analysts highlighted mixed performance metrics for Nike despite the near-term headwinds. While the stock has gained 25.9% over the past three months, outpacing the Consumer Discretionary sector, its 52-week decline of 6.6% underscores lingering challenges. The stock remains below its 2021 all-time high of $179.10 and trades slightly below the $78.59 average price target set by 36 analysts. Recent earnings in June showed a 12% year-over-year revenue drop to $11.1 billion, though the company exceeded expectations on both revenue and earnings per share. Nike’s guidance for moderating headwinds in the coming quarters has provided some optimism, but uncertainty around China’s potential tariff adjustments continues to weigh on investor sentiment.

Historical backtesting data from Nike’s price action indicates a 15.2% single-day surge following its June 26 earnings report, driven by better-than-expected results. However, the stock has since retreated, reflecting volatility tied to macroeconomic factors and trade policy risks. The company’s ability to mitigate tariff impacts through pricing strategies and supply chain adjustments will likely determine its near-term trajectory.