What's Going On With GameStop Stock Monday?

GameStop Corporation (NYSE:GME) shares moved lower on Monday amid recession worries due to uncertainty regarding tariffs and trade policy.

What To Know: President Donald Trump earlier this month imposed 25% tariffs on Canadian and Mexican imports, along with an additional 10% tariff on Chinese imports, according to ABC. He later granted a one-month exception for USCMA-compliant goods.

In February, Trump ordered 25% tariffs on Canadian and Mexican imports and 10% on Chinese imports. While the tariffs on Canadian and Mexican goods were delayed until March, the initial 10% tariff on Chinese goods took effect immediately.

Investors may be selling off as the back-and-forth on tariff policy creates uncertainty about pricing and supply chain stability. Retail, apparel and e-commerce stocks could be particularly affected, as higher prices from tariffs may lead consumers to cut back on spending.

Commerce Department data indicates that January retail sales declined by 0.9%, compared to economist expectations of a 0.2% decrease. E-commerce also experienced a 1.9% drop during the same period.

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GME Price Action: GameStop shares closed Monday 6.54% lower at $22.42, according to data from Benzinga Pro.

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