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The impact of President Trump’s tariffs on electrical stocks was swift and dramatic. Following his announcement of reciprocal tariffs after the stock market closed on Wednesday, April 2, stock futures began dropping and before noon Eastern Time of the following day, several well-known electrical players that had enjoyed growth in their share prices saw double-digit decreases. According to Yahoo Finance share price data, Littelfuse shares were down -14% for the day and -26.2% since Dec. 31, 2024; WESCO shares were down as low as -11.6% in morning trading and -20.7% YTD; and Belden’s shares were down as low as -10.3% in the morning and -16.8% YTD.
Market indices were also down dramatically lower on the morning of April 3, with the small-cap oriented Russell 2000 Index off -5.8% from the previous day; the tech-heavy NASDAQ down -4.9% for the day and in correction territory for the year with a -13.3% YTD decline. The S&P 500 was down 3.7% for the day in early trading and the Dow Jones Industrial Average was down -3.1%.
According to a CNBC.com report, the President’s reciprocal tariffs included a 10% baseline tariff for most countriesand tariff rates of 34% for China; 20% for the European Union; 46% on Vietnam and 32% for Taiwan. With so many electrical manufacturers sourcing products overseas, price increases across the market are expected. Electrical Wholesaling and Electrical Marketing will be offering regular updates on this fluid situation and its impact on the industry.
