Friday’s 10 Worst Performing Stocks

The stock market suffered a bloodbath anew on Friday as investors digested news of a growing trade war, with China making good on its promise with a steep tariff on US goods.

As of 2:55 PM, the S&P 500 lost 5.47 percent of its value, the tech-heavy Nasdaq fell 5.37 percent, and the Dow Jones was down by 5.09 percent.

Following President Donald Trump’s imposition of hefty tariffs on all imports to the US, China on Friday struck back with a 34-percent tariff on US goods. The tariffs will begin on April 10.

Ten individual stocks mirrored a broader market pessimism, recording steep intra-day losses. In this article, let us explore Friday’s worst intra-day performers and the reasons behind their decline.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5 million in trading volume.

A man in black suit holding a tablet looks at stock market data on a monitor. Photo by Tima Miroshnichenko on Pexels

10. Veren Inc. (NYSE:VRN)

Veren Inc. saw its share prices drop by 13.64 percent at intra-day trading as investors repositioned portfolios amid the heightening trade war between the US and its largest trading partners.

In recent news, VRN announced it was merging with Whitecap Resources Inc. for a transaction worth $15 billion.

Under the agreement, VRN shareholders will receive 1.05 common shares of Whitecap for each VRN common share held.

The combined company will be led by Whitecap’s existing management team under the Whitecap name with four VRN directors set to join the Whitecap Board of Directors, including the VRN’s incumbent president and CEO, Craig Bryksa. The transaction is expected to close before May 30, 2025. Upon completion, the merged company would become the largest landholder title in Alberta Montney and Duvernay, a prominent light oil producer in Saskatchewan and will leverage the combined asset base and technical expertise to drive improved profitability and superior returns to shareholders.

9. Cenovus Energy Inc. (NYSE:CVE)

Cenovus Energy dropped its share prices for a second day on Friday, losing 13.07 percent at intra-day trading as investors sold off positions to mitigate risks from the ongoing global trade war.

CVE, a Canada-based oil and gas company, is expected to bear the impact of the ongoing trade war, amid various operations located within the US, Canada, and the Asia Pacific region.

At present, the company operates and owns a 50-percent stake in two refineries in Wood River, Illinois and Borger, Texas, through a joint venture with the operator Phillips 66.

It also has offshore operations in China with the Liwan Gas Project and Pearl River Mouth Basin, as well as gas fields in the Madura Strait PSC in Indonesia.

CVE was sold down despite analysts from the Royal Bank of Canada assigning an “outperform” rating and a $25 price target on the company on Wednesday.