The Dow Jones Industrial Average (DJI), Nasdaq Composite (IXIC), and S&P 500 Index (SPX) are lower this afternoon, brushing off rallying consumer packaged goods and defense stocks. Wall Street is struggling with President Donald Trump's 25% auto tariffs slated to move into effect on April 2, alongside retaliatory levies. The move comes amid threats to Canada and the European Union (EU) of "larger tariffs" should they react, while China could see reduced duties if it agrees to a ByteDance TikTok deal. A handful of fresh economic and jobs data also made headlines this morning.

GameStop Corp (NYSE: GME) stock is getting blasted in the options pits today, with 271,000 calls and 234,000 puts exchanged so far, which is 6 times the intraday average volume. The most active contract is the December 2027 5-strike put, where positions are being sold to open. GME was last seen down 11.8% at $25.01, wiping out yesterday's 11.7% pop after the company revealed it will invest in Bitcoin (BTC), but later privately offered offered $1.3 billion 0% 5-year convertible bonds. The equity has shed 20.7% so far in 2025.

Dollar Tree Inc (Nasdaq: DLTR) is the best stock on the SPX today, last seen up 7.8% to trade at $74.64. On track for its best single-day percentage gain since May 2022, the equity is looking to extend yesterday's surge after the retailer sold its subsidiary Family Dollar for $1 billion. Additionally, Telsey Advisory Group and Truist Securities raised their price objectives to $82 and $84 from $75 and $76, respectively. DLTR still carries a 43.8% year-over-year deficit, however.

Automotive parts maker Aptiv PLC (NYSE: APTV) is near the bottom of the SPX today, down 5.7% at $62.05 at last glance. Today's tumble follows President Trump's auto tariffs, but the stock already carries a 21.1% year-over-year deficit. Shares could snap their three-day win streak with their worst single-day percentage loss since October, amid a retest of the recently supportive 80-day moving average.

More By This Author: