Wall Street’s three major indices suffered a bloodbath on Thursday as investors continued to digest news of President Donald Trump’s tariff rollout on imports.

The tech-heavy Nasdaq fell the heaviest, down by nearly 6 percent. The S&P 500 dropped by 4.84 percent and the Dow Jones was down by 3.98 percent.

Ten individual stocks, predominantly under the retail sector, mirrored a broader market pessimism, finishing the day in the negative territory as investors sold off positions to mitigate risks.

In this article, we named Thursday’s worst performers and detailed the reasons behind their drop.

To come up with the list, we considered only the stocks with $2-billion market capitalization and $5 million in trading volume.

10. Carvana Co. (NYSE:CVNA)

Carvana Co. saw its share prices decline by 19.68 percent on Thursday to end at $181.79 apiece as investors sold off positions amid the overall market pessimism and news that its chief finance officer disposed of a significant stake in the company.

Mark W. Jenkins, CVNA’s chief finance officer, said he sold approximately $9.1 million CVNA common shares at a price ranging from $203.02 to $213.10 apiece and acquired as much as $1.6 million.

The shares were bought at a price of $10.07 and $51.97 apiece.

Following the two transactions, Jenkins now holds 214,678 shares in CVNA.

In recent news, CVNA received an “overweight” rating from Morgan Stanley, a revision from the “equal weight” previously. It also earned a $280 price target from the analyst, an improvement from the $260 prior.

9. Sandisk Corp. (NASDAQ:SNDK)

Sandisk dropped its share prices by 19.74 percent on Thursday to finish at $38.26 apiece as investors disposed of positions to mitigate the risks from the ongoing trade tensions between the US and its trading partners.

As a company that develops, designs, and manufactures data storage solutions, the company is expected to feel the tariff impact from higher costs of raw materials.

Last month, Cantor Fitzgerald assigned SNDK an “overweight” rating and a price target of $60 apiece on the back of positive factors, including a projected recovery in the NAND market in the second half of the year, a strong balance sheet, and robust free cash flow generation facilities.

It also earned an overweight rating and an $84 price target from Morgan Stanley.

8. Lumentum Holdings Inc. (NASDAQ:LITE)

Lumentum Holdings fell by 20 percent on Thursday to finish at $53.45 apiece as investors resorted to profit-taking following Wednesday’s surge while also repositioning portfolios to minimize risks from the ongoing trade war.

Earlier in the week, LITE surged following announcements that it achieved a new speed benchmark of 448 Gbps data transmission, a milestone that addresses the escalating bandwidth demands of artificial intelligence and machine learning applications which require ultra-fast, real-time data processing.

LITE partnered with NTT Innovative Devices and Keysight Technologies for the project.

“Achieving 448 Gbps transmission is a significant milestone in advancing optical interconnects for AI-driven cloud infrastructure. This collaboration underscores Lumentum’s expertise in photonics and our commitment to delivering cutting-edge optical components that support the rapid expansion of AI and cloud data centers,” said LITE Chief Technology Officer Matthew Sysak.

“As AI and ML applications require real-time processing of ever-growing datasets, our high-performance externally modulated lasers will be instrumental in enabling faster, more efficient, and scalable data center networks,” he added.

7. Coherent Corp. (NYSE:COHR)

Coherent saw its share prices decline by 20.18 percent on Thursday to finish at $53.91 apiece, in line with the overall market sentiment that was dampened by President Donald Trump’s imposition of steep tariffs on US imports.

COHR is a US-based manufacturer of optic materials and semiconductors. With the ongoing trade tensions among economies, it is set to bear the brunt of higher costs of raw materials.

Despite market uncertainties, Needham & Company raised its price target for Coherent to $125 from $120 previously, while maintaining a “buy” rating on the stock on the back of its strong fourth-quarter earnings attributed to its AI-related Datacom transceiver business and improved demand in telecom vertical.

In its latest earnings release, Coherent said it swung to a net income of $103 million for the second quarter of fiscal year 2025, reversing a $27 million net loss in the same period a year earlier.

It also booked a net income of $129.3 million in six months ending December 2024, versus a $94.5 million net loss in the same period year-on-year.

6. The Gap Inc. (NYSE:GAP)

The Gap Inc. dropped its share prices by 20.29 percent on Thursday to end at $17.84 apiece as investors parked funds to mitigate the risks from looming higher costs brought about by the ongoing trade war.

GAP traded lower in line with the decline in the apparel industry following President Donald Trump’s “reciprocal” tariffs on imports, which includes major suppliers in the fashion industry.

Vietnam was slapped with a 46-percent tariff, Bangladesh, 37 percent; China, 34-percent tariff; and the EU, 20 percent.

Last month, GAP CEO Richard Dickson told Yahoo Finance that the company was monitoring the developments of tariffs “on an hourly basis.”

“We source less than 10 percent of our product from China and less than 1 percent of our product comes from Canada and Mexico combined. So our guidance contemplates what we know today regarding the tariff policy,” he was quoted as saying earlier.

5. SharkNinja Inc. (NYSE:SN)

SharkNinja saw its share prices decline by 21.42 percent to end at $69.49 apiece as investors sold off positions to reduce risks from the potential impact of steep tariffs on its business.

SN, an appliance maker, faces threats of higher raw material prices with President Donald Trump’s imposition of higher tariffs on imports to the US.

Additionally, a market analysis published Thursday further dampened sentiment in the company, saying that stocks like Arm & Hammer brand owner Church & Dwight (CHD), Costco Wholesale (COST), over-the-counter products company Prestige Consumer Healthcare (PBH), and Walmart (WMT) could hold up better than those of companies like SN and Target.

“Assuming the announced tariffs come to fruition, we clearly favor our defensive Outperform-rated names along with Ulta Beauty (ULTA) over more discretionary names” in the short term, Oppenheimer’s note said.

4. Wayfair Inc. (NYSE:W)

Wayfair slashed its valuation by 25.59 percent on Thursday to close at $25.09 apiece on pessimism that it would take a beating from President Donald Trump’s tariff policies.

Earlier last month, the chief executive officer of Target Inc., one of the largest retailers in the US, said in an appearance on CNBC that higher prices on Mexican goods will likely lead to higher prices on produce.

Wayfair Inc. (NYSE:W), an online retailer of furniture, decorations, and outdoor items, among others, is similarly set to bear the brunt of higher costs.

Prior to President Donald Trump’s return to the White House, an analyst already warned last year that Wayfair Inc. (NYSE:W), as well as Best Buy and Five Below, would be especially at risk from the tariffs which could result in a plunge in earnings performance.

3. Five Below Inc. (NASDAQ:FIVE)

Five Below fell back to the $50 level on Thursday, shedding 27.81 percent to close at $58.83 apiece as investors disposed of its stocks following news that it recalled one of its products over fire hazards.

According to the US Consumer Product Safety Commission, FIVE recalled some 29,000 units of its Room2Room LED Iridescent Bear Lights due to the risk of overheating and melting on its USB cord, which could lead to fire and burn hazards.

The firm has received 28 reports of its USB cord overheating and melting, while six said they burned their fingers, and two reported property damage on walls and headboards.

The bear lights were sold online and at Five Below at $12 apiece in locations throughout the US from September 2024 to February 2025.

Prior to President Donald Trump’s return to the White House, an analyst warned last year that FIVE, Best Buy, and Wayfair would be especially at risk from the tariffs, which could result in a plunge in earnings performance.

2. V.F. Corporation (NYSE:VFC)

Apparel maker V.F. Corporation saw its share prices decline by 28.74 percent on Thursday to finish at $11.68 each as investors sold off on twin news that it was laying off employees while also taking a beating over the potential impact of higher tariffs on its products.

V.F. Corporation (NYSE:VFC) designs, manufactures, and markets branded apparel such as The North Face, Timberland, Vans, Dickies, Jansport, and Kipling. It currently owns various facilities globally, including China, Mexico, and Canada, all of which have been slapped with higher taxes by President Donald Trump.

Despite announcing a number of achievements on its business including cost reduction, lower net debt, improved business performance in the Americas, and an advanced Vans brand turnaround, trading in the company was hit by a bearish outlook on the retail industry given the recently implemented higher tariffs which could cause higher costs of importation, manufacturing, and raw materials.

1. RH (NYSE:RH)

Luxury furniture retailer RH plunged by 40.09 percent on Thursday to end at $149.39 apiece as investors reacted negatively to President Donald Trump’s reciprocal tariffs alongside the company’s dismal earnings performance.

RH sources a number of its products from overseas, including China and other Asian countries which were Trump’s recent target of steep tariffs.

During the company’s earnings call, RH CEO Gary Friedman was caught cussing after the stock’s price drop.

“Oh sh—I just looked at the screen,” he was quoted as saying.

Friedman said it was not a secret that RH sources products from Asian countries, but said that the company was not alone.

“Anybody of scale in the home business has a high percentage of their content coming out of Asia,” he said.

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READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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