Stock Track | Shopify Plunges 5.20% Pre-market as Trump Tariffs Hit E-commerce Sector

Stock Track04-04

Shopify (SHOP) shares tumbled 5.20% in pre-market trading on Friday, as the e-commerce giant grapples with the fallout from broad tariffs announced by President Donald Trump. The tariffs have sent global markets into a tailspin, with particular impact on companies reliant on international trade.

The Canadian e-commerce platform, which generates a significant portion of its revenue from sales of imported goods, is especially vulnerable to these new trade restrictions. The company's co-founder and CEO, Tobi Lutke, saw his personal fortune shrink by $1.5 billion, representing a staggering 17% of his wealth, as Shopify's stock plummeted 20% on the Toronto Stock Exchange in the previous session.

This pre-market decline for Shopify is part of a broader market reaction to Trump's tariff announcement, which has caused substantial losses for tech giants and e-commerce companies. As investors reassess the potential impact of these trade measures on global supply chains and consumer spending, Shopify and similar companies may face continued pressure in the near term.

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