Charlotte Fortune 500 companies caught in Trump tariffs turmoil. Only two are up.

Just two of 10 Charlotte Fortune 500 companies held gains in the past week since President Donald Trump’s yo-yo moves of sweeping tariffs on dozens of countries, including China and the European Union.

After Trump unveiled on April 2 expansive tariffs on nearly every product imported to the U.S., the stock market saw its worst day on Wall Street on April 3 since the height of COVID in March 2020.

A Tuesday rally was short-lived as tariffs took effect at 12:01 a.m. Wednesday, including 104% on goods from China and imports from other countries. But Wednesday afternoon, stocks rallied after Trump decided to delay most global tariffs for 90 days, except for those on China.

Trump’s tariffs announcements are causing increased recession fears, reflected in volatile financial markets, as countries like China impose retaliatory tariffs on the U.S.

Sonic Automotive was the only Charlotte-based Fortune 500 company Wednesday morning to see gains in its share price over the past five days, up 3.21%. After Trump backed down on the sweeping tariffs, Sonic’s stock was up 10.25% at closing Wednesday.

Financial services firm LPL Financial with its East Coast corporate offices in Fort Mill ended up 2.71% over the past five days.

Among Charlotte’s largest three banks, Bank of America had seen the steepest plunge of its stock price over the past five days, down 26.32% as of Wednesday morning. By closing Wednesday, that gap closed to -3.68%.

How have Trump tariffs impacted stock prices for Charlotte companies?

Here’s how Charlotte’s largest publicly-traded companies are faring:

▪ Albemarle, the world’s largest lithium miner, saw its stock stand at $72.25 on April 2. It has fallen to $50.64 on Wednesday morning. Over the past five days, the share price has fallen by $18.59 (-26.88%). At the end of Wednesday, price share was up to $60.47, closing down 12.65% over the past five days.

▪ Bank of America saw one of the steepest drops last Thursday, down 11.06%, at $37.29 per share. The bank’s stock dropped to its lowest point Wednesday at $33.14. At end of day Wednesday, its price share was $37.15.

▪ Duke Energy was the only company last Thursday to see an increase, ending the day up 3.66 at $124.05. But that spike dropped significantly in the past week. As of Wednesday, its week low price is $112.88. Over the past five days, the price fell by $9.65 (-7.88%). At closing Wednesday, Duke Energy’s share price was $116.31, down 5.44% over the past five days.

▪ Honeywell stock has been sliding over the last week from $205.11 at the end of the day April 2 to $184.20 Wednesday morning. Over the past five days, it’s been down $28.78 (-13.51%). At closing Wednesday, Honeywell’s price share was $199.10, closing the five-day period down 6.56%.

▪ Lowe’s home improvement price was $222 at the end of the day April 2. After bouncing up and down the past week, it hit its lowest point Wednesday at $208.28. Over the past five days, Lowe’s has been down $15.20, (-6.88%). The price share spiked to $223.20 at the end of the day, nearly eliminating the five-day drop to only -0.13%.

▪ LPL Financial ended last Wednesday at $312.75. It hit its lowest point Monday, $268.90, before rallying to $305.44 Tuesday morning. But on Wednesday, the price slid to $288.18. Over the past five days, its share price decreased by $30.29 (-9.75%). The share price rose 11.15% by the end of the day to $318.88.

▪ Steel company Nucor ended the day last Wednesday at $110.95, and dropped to its lowest point Monday at $98.55. Following a short-lived boost it dropped to $103. 22 Wednesday morning. Over the past five days, the share price has been down $13.66 (-11.59%). By closing Wednesday, Nucor’s price share was $115.50, up 11.4% for the day, and only down 2.89% over the past five days.

▪ Sonic Automotive ended April 2 at $56.20, opening Thursday at $53.39, its lowest point in the past five days. After a peak Tuesday at $60.16, it plunged to $50.98 Wednesday morning. The share price spiked 9.71% to $62.17 at the end of the day.

▪ Truist ended April 2 at $37, falling to its lowest point Monday at $33.96. Following a short rally peaking at $36.94 on Tuesday, it slid to $34.93 Wednesday morning. Over the past five days, the bank’s share price has been down $4.95 (-12.56%). But by closing Wednesday, Truist rebounded 8.73% to $37.98, down 4.33% during the five-day period.

▪ Wells Fargo sat at $72.26 at closing April 2 before plunging to its lowest point $59.81 on Monday. After a rally Tuesday to $65.43, by Wednesday morning the price has dropped again to $60.46. Over the past five days, the bank’s share price dropped by $7.29 (-10.76%). Wells Fargo’s price share rose 6.85% by day’s end to $66.33, down 2.20% over the past five days.

This story was originally published April 9, 2025 at 12:25 PM.