President Donald Trump’s media venture is forging a symbolic link to Texas, becoming the first company to list on the New York Stock Exchange’s upstart outpost in the Lone Star State.

Consumer Staples sector (NYSEARCA:XLP) was the lone gainer in Thursday’s stock rout, a move in line with a suggestion from The Bahnsen Group’s leader to focus on defensive areas as markets digest the Trump administration’s tariff plans.

The move could bolster Intercontinental Exchange-owned NYSE, which on Monday became the first exchange to operate in Texas.

The reaction to President Donald Trump's sweeping tariffs announcement didn't take long to hit the United States stock market, with Dow Futures plummeting 1,000 points by Thursday morning. The Dow Jones Industrial Average fell by 1,000 points or 2.4%. S &P 500 futures lost nearly 3% and Nasdaq-100 futures tumbled more than 3%.

Financial markets around the world are reeling following President Donald Trump’s latest and most severe volley of tariffs, and the U.S. stock market is taking the worst of it so far.

Newsmax's stock took flight immediately following its IPO, soaring as much as 2,230% by Tuesday. Yesterday, however, shares of Newsmax plummeted 77%.

Trump Media & Technology Group said on Monday it has become the first company to be listed on NYSE Texas, handing an early boost to the exchange as it gears up for fierce competition in the Lone Star state.

Imported steel and aluminum already subject to a 25% tariff are excluded from President Trump's new levies, providing some relief for metal buyers that would have faced significantly higher prices, but the new tariffs nevertheless will raise the cost of raw materials for steelmakers that operate electric arc furnaces,

Asian shares slid further Friday after U.S. President Donald Trump’s tariffs sent shudders through financial markets at a level of shock unseen since the COVID-19 pummeled world markets in 2020. Trump announced a minimum tariff of 10% on global imports,