Nike stock plunges 10% due to $1.5B hit from tariffs, weak China sales

Nike stock plunged nearly 10% after the sneaker giant reported sliding profits due to an anticipated $1.5 billion hit from tariffs as well as a slowdown in China.Shares fell to about $58 before the opening bell on Friday, down from a prior close near $65, as investors digested a sharp earnings decline and continued margin pressure tied to tariffs, inventory cleanups and weak demand in Greater China.Nike said its revenue in the second quarter of fiscal year 2026 edged up just 1% to $12.4 billion, while net i ...