RH Stock Plummets Amid Trump’s Tariff Announcement

Shares of RH (RH -4.86%) tumbled as much as 10% on Monday after former President Donald TRUMP signaled impending tariffs on furniture imports. The drop followed a brief rally fueled by Federal Reserve Chair Jay Powell's hints at future rate cuts.

Trump's Truth Social post outlined plans for a 50-day investigation into furniture tariffs, aiming to reshore manufacturing to U.S. states like North Carolina and Michigan. Current tariffs stand at 55% for Chinese imports and 20% for Vietnamese goods, but additional levies appear imminent.

The announcement rattled an industry still adapting supply chains after previous trade wars. While no cryptocurrencies were directly mentioned, such macroeconomic shocks often Ripple through digital asset markets as investors reassess risk exposure.