Stock futures slipped Thursday morning as investors weighed President Donald Trump’s broad import tariffs on goods entering the U.S. The revised tariff framework establishes a minimum baseline of 10%, with the highest rate soaring to 49%.

Here are some of Thursday's biggest stock movers:

Biggest stock gainers

• Diageo (NYSE:DEO) +4% - Shares climbed as analysts viewed the U.S. tariff announcement as avoiding the worst-case scenario for the spirits industry. Goodbody analysts noted that no additional duties were imposed on imports from Canada and Mexico, making the outcome "less bad than feared" for Diageo. Jefferies analyst Edward Mundy highlighted that a potential 200% tariff on EU alcohol imports was averted, offering relief to European distillers.

Biggest stock losers

• Tesla (NASDAQ:TSLA) -8% - Shares plunged after reporting its worst quarterly deliveries since 2022, falling significantly short of expectations. Tesla delivered just 336K vehicles in Q1, well below the consensus estimate of 377K, as production disruptions from the Model Y refresh and potential backlash against Elon Musk’s political involvement weighed on results. Wedbush analyst Dan Ives called the numbers a "disaster" and urged Musk to refocus on Tesla rather than political controversies and his ties to Dogecoin. Meanwhile, Politico reported that U.S. President Donald Trump has told insiders that Musk will step back from his role as a governing partner in the coming weeks.
• Wayfair (NYSE:W) -14%, Nike (NYSE:NKE) -8%, American Eagle (NYSE:AEO) -5% - Shares of major retailers tumbled as the market reacted to the impending 46% tariffs on Vietnam announced by U.S. President Donald Trump. The steep tariffs, set to take effect on April 9, could significantly impact companies in the apparel, furniture, and toy industries, potentially driving up costs. Analysts warn that some corporations may pass these cost increases onto consumers through price hikes, adding to inflationary pressures in the retail sector.
• RH (NYSE:RH) -26% - Shares plunged after the luxury home furnishing company missed Q4 estimates and provided weaker-than-expected guidance for FQ1 and FY2025. RH cited multiple headwinds, including tariff uncertainty, market volatility, inflation risks, and “the worst housing market in almost 50 years.” For Q1, the company expects revenue of $817.8M to $825.1M, below the $840.4M consensus, with an adjusted operating margin of 6.5% to 7.0%. FY2025 revenue is anticipated to grow in the range of 10% to 13% Y/Y, translating to $3.499B to $3.595B, missing the consensus of $3.64B.
• Apple (AAPL) -7.6% - The biggest decliner among the Magnificent Seven stocks as President Donald Trump’s sweeping tariff measures rattled global markets. The iPhone maker, heavily reliant on China for manufacturing, faces heightened risks under the steepest U.S. tariffs in a century. Broader market pressure saw other tech giants slide, with Amazon (AMZN) down 5.9%, Nvidia (NVDA) -5%, Meta (META) -4%, Alphabet (GOOGL) -3%, and Microsoft (MSFT) -2.3%.