Here’s a look at the companies grabbing attention ahead of the market opening.

**Lululemon** – The company's shares plummeted over 12% following the announcement of President Donald Trump's extensive tariffs. As disclosed in an SEC filing, Lululemon sourced 40% of its products from Vietnam as of 2024, which is facing a hefty 46% tariff. Nearly 90% of the company's merchandise is produced in Vietnam, Cambodia, Sri Lanka, Indonesia, and Bangladesh.

**Nike** – Shares fell around 9% after the U.S. eliminated tariffs on Wednesday. Nike produces roughly half of its footwear in China and Vietnam, which will now incur tariff rates of 54% and 46%, respectively.

**Discount Retailers** – Dollar Tree and Five Below saw declines of over 10% and 15%, respectively. Dollar Tree’s CEO Michael Creedon has indicated that the company might increase prices to counteract the effects of the new tariffs, as both retailers significantly rely on imported products.

**Ford** – The automaker's stock dropped 2.3%. According to a report by Reuters, Ford will implement employee pricing for all customers across several models to mitigate tariff impacts under a program termed “From America for America.”

**Big Tech** – Shares of major technology firms, including Nvidia and Tesla, fell as investors expressed concern about the ramifications of Trump's new tariffs. Nvidia declined more than 5%, while Tesla dropped by a similar margin. Amazon.com shares fell over 6%, and Apple experienced a decline of more than 7%. Microsoft shares also fell by 2.3%, with Bloomberg reporting that the company is reducing its data center projects both domestically and internationally.

**Banks** – Major financial institutions like JPMorgan, Citi, Goldman Sachs, and Morgan Stanley saw sharp declines in their stock prices early Thursday as investors considered the potential economic consequences of the tariff policies. Shares of JPMorgan Chase dipped by 3.8%, with Citi, Goldman Sachs, and Morgan Stanley all falling over 4%.

**RH** – The luxury home furnishings retailer experienced a staggering 28% drop after reporting fiscal fourth-quarter earnings and first-quarter guidance that fell short of Wall Street expectations. RH reported earnings of $1.58 per share, excluding one-off items, on $812 million in revenue for the fourth quarter, whereas analysts had anticipated earnings of $1.92 per share and $830 million in revenue. CEO Gary Friedman noted that the company is navigating through the “worst housing market in almost 50 years.”

**Deckers Outdoor** – The company behind Ugg boots saw its shares decline by more than 12% after the announcement of reciprocal tariffs. Deckers has 68 supply chain partners in Vietnam and 125 in China.

**Wayfair** – The furniture retailer's stock weakened by about 12% due to increased U.S. tariffs on imports from Cambodia, Vietnam, Thailand, and the Philippines. CEO Niraj Shah mentioned during a February earnings call that these countries have become significant locations for the company's manufacturing operations.

— Reporting contributed by CNBC's Alex Harring, Jesse Pound, Sarah Min, and Sean Conlon.

In a turbulent pre-market environment, several prominent companies have experienced significant share price drops in response to the new tariffs imposed by President Donald Trump, impacting both investor sentiment and operational costs across multiple sectors.

Lululemon saw its shares plummet over 12% after disclosing in an SEC filing that approximately 40% of its products are sourced from Vietnam, a country facing a staggering 46% tariff. Since nearly 90% of Lululemon’s products are produced in countries heavily affected by these tariffs, including Cambodia, Sri Lanka, Indonesia, and Bangladesh, fears of increased costs have rattled investors.

Nike faced a similar fate, with shares sliding approximately 9%. A considerable portion of its footwear is manufactured in China and Vietnam, which will incur tariff rates of 54% and 46%, respectively. The company’s production strategies are now in question, raising concerns about profit margins and pricing strategies.

Discount retailers such as Dollar Tree and Five Below also suffered substantial declines, with Dollar Tree falling over 10% and Five Below dropping more than 15%. Dollar Tree’s CEO Michael Creedon previously indicated the possibility of price hikes on merchandise in response to the new tariffs. These two companies heavily rely on imported goods, meaning their operations will likely be impacted significantly by increased tariffs.

Ford shares dipped by 2.3% as the automaker revealed plans to mitigate costs through a program called “From America for America,” which will offer employee pricing to all customers across various models. This approach seems to be a strategic response to the anticipated financial strain posed by new tariffs.

Big Tech companies were not immune to the adverse effects of the tariff announcements. Shares of major tech firms including Nvidia, Tesla, Amazon.com, and Apple fell significantly, with Nvidia and Tesla each dropping more than 5%. Amazon shares slid over 6% while Apple fell by more than 7%. Investors are increasingly concerned that the new tariffs may pressure these tech giants’ profit margins and supply chain strategies.

Microsoft shares fell 2.3% after reports emerged indicating that the tech giant is scaling back data center projects both domestically and internationally. The potential slowdown in expansion plans comes amid growing concerns over the economic impacts of the tariff regime.

Financial stocks took a hit as well, with JPMorgan Chase shares declining 3.8%, while other major banks like Citi, Goldman Sachs, and Morgan Stanley dropped over 4%. The market’s reactions reflect apprehension about the broader economic consequences that Trump’s tariff policy may impose on various sectors.

RH, a luxury home furnishings brand, saw its shares plunge an alarming 28% after it reported weaker-than-expected fourth-quarter earnings and disappointing first-quarter guidance. The company earned $1.58 per share on revenues of $812 million, falling short of analyst estimates, with CEO Gary Friedman noting the company’s struggles in what he described as the "worst housing market in almost 50 years."

Deckers Outdoor, the maker of Ugg boots, also fell significantly by more than 12% due to tariff-related concerns. With 68 supply chain partners in Vietnam and 125 suppliers in China, the company's operations are closely tied to the affected regions.

Lastly, Wayfair, the online furniture retailer, weakened about 12% after the announcement of increased tariffs on imported goods from Cambodia, Vietnam, Thailand, and the Philippines. The CEO highlighted the importance of these countries in Wayfair’s supply chain, emphasizing the challenges posed by the new tariff structure.

Overall, the introduction of these tariffs appears to be sending shockwaves across various industries, driving share prices down as companies reassess their supply chains, pricing strategies, and future growth prospects. As investor sentiment reacts to these developments, the potential broader economic impact remains a focal point for market analysts.