U.S. Steel shares dropped by 10% following comments from former President Donald Trump, who expressed opposition to a potential acquisition of the company by a Japanese owner. Trump’s remarks sparked concerns about foreign ownership in U.S. industries, leading to a significant sell-off in the company’s stock. The market reacted negatively, reflecting apprehension about the implications of foreign investments in key domestic sectors. Investors are wary of how these sentiments might affect U.S. Steel’s future, especially in terms of growth and competition amid ongoing challenges in the steel industry.
US Steel Drops 10% After Trump States He Doesn’t Want Japanese Ownership