Stocks Drop and Climb Back On Tariffs… And The Impact On Pharma Description 02/03/25

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 3 February 2025

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks climbing back from an early sell-off, as updates on Trump’s tariff plans filter in. The stocks seeing a comeback, and how the traders are navigating the volatility. And pharma in focus, as the space falls into the red. How fears of rising drug costs are impacting health care, and if the weight loss drug space could see a price surge. Fast Money Disclaimer

Transcript

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0:00.0	Live in the Anzac markets, I'm in the heart of New York City's Times Square. This is fast money.
0:04.8	Here's what's on tap tonight. Held hostage to the headlines, the latest one just minutes ago.
0:09.5	Canada will be spared from tariffs for the next 30 days. We'll get the very latest from the White House and ask the desk how you are supposed to trade in this kind of environment.
0:17.6	Plus, bottom of the bottle, boo stocks getting battered yet again. Tar Terrace the latest hangover for a host of names that keep hitting new lows.
0:24.9	And later, Palantir popping on the back of a big beep.
0:27.8	We'll go off the charts on the dollar's next move.
0:29.9	And is a burrito blowout on the menu for Chipotle.
0:33.6	That report out tomorrow.
0:35.7	Our hot and spicy takes straight ahead.
0:39.0	I'm Melissa Lee. I'm live from studio Biazzi, on The Death Tonight.
0:42.4	Karen Feiterman, Dan Nathan, Guy Dami, and Julie Beale.
0:45.3	We start off with the very latest headlines from the Trade War.
0:47.9	Canadian Prime Minister Justin Trudeau tweeting that there will be a 30-day pause on U.S. tariffs,
0:53.6	as Canada says it will spend more on its border and add more personnel.
0:57.6	This just the latest twist, and a day of reversals that round-tripped briefly into positive territory after President Trump agreed to pause 25 percent tariffs on Mexico for at least 30 days.
1:08.2	The pauses could be first steps toward avoiding what the Wall Street
1:11.7	Journal is dubbing the dumbest trade war in history, even as terrorists look like they will
1:16.7	remain in place for China. Our Megan Costella joins us now with more on where we go from here.
1:21.3	What a day, Megan. What a day, Melissa. That's absolutely right. At least two legs of this trade war
1:26.1	are now on pause for at least a month. A message coming in from President Trump just seconds ago on True Social, confirming that news that he has reached a deal with Canada to delay those tariffs that comes after Canada promises to carry out this $1.3 billion border security plan. Trudeau also saying that he will appoint a fentanyl czar to take care of that
1:45.1	at the border. Trump saying that it will be at least 30 days that those tariffs are on pause.
1:50.6	That comes after he reached a similar deal earlier today with Mexico President Claudia
	...

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