The Dow Industrials experienced a decline of over 300 points, reflecting broader market concerns. Notably, 3M shares have risen 5% over the past three months but remain down 10% from their February peak. General Motors has seen a nearly 6% drop in the same period, with a 13.5% decrease from its February high.
In contrast, Charles Schwab's stock is up 10% over three months, although it is down 4.6% from its February high. Northrop Grumman has faced a significant 20% decline in three months, with shares off 32% from early March highs.
Jim Cramer emphasized the need for investors to look beyond big tech stocks, suggesting companies like Goldman Sachs, Honeywell Aerospace, and Boeing as potential buys due to their resilience against tech-related news. Goldman Sachs has seen an 8.6% drop from last week's high but is up 31% since Cramer purchased it for his charitable trust in March.
Meanwhile, Meta Platforms and Apple have performed well in July, with Meta up 14.7% and Apple up 12.9%, despite a recent 2% drop. The article also mentions President Trump's proposal for a 50% tariff on various Canadian goods, which could impact trade dynamics, particularly for products made in China and other countries.
Lastly, the iShares MSCI USA Momentum Factor ETF has declined almost 12% in July, indicating a shift in market momentum