10 Firms Kick Off 2025 Trading in The Red

5. United States Steel Corp. (NYSE:X)

Shares of United States Steel finished the first trading day of the year in the red, shedding 4.09 percent or 1.39 points at $32.60 each as investors pocketed early gains following a 9.54-percent rally in the previous trading day.

Investors remained in a wait-and-see mode following news that the company is set to be acquired by Japanese company Nippon Steel for $14.9 billion, pending approval of outgoing president Joe Biden.

According to reports, the acquisition plan remains under review due to national security concerns from the Treasury Department’s Committee on Foreign Investment in the United States (CFIUS).

The revised proposal by Nippon Steel included a provision granting veto power to the federal government over any reduction in production capacity, should the acquisition secure approvals.