Trump tariff impact, April 3 -- Apple, Walmart, Nike and other major companies that depend on countries like China and Vietnam for manufacturing could lead a rout at the US stock markets, erasing roughly $1.7 trillion from the S&P 500 Index as trading opens on Thursday. The US stock market is likely to come amid worries after President Donald Trump slapped the entire world with sweeping new tariffs that could result in an economic recession.

According to a report by Bloomberg, companies whose supply chains are most dependent on overseas manufacturing will be the most impacted. Apple Inc., which makes the majority of its US-sold devices in China, is likely to open 7.7 per cent lower at trade. Lululemon Athletica Inc. and Nike Inc., which ...