CNBC Business News Update - Market Open: Stocks Lower, Wholesale Inflation Lower Than Expected, Trump Threatens 200% Tariff On European Wine & Champagne 3/13/25

Episode Date: March 13, 2025

I'm Jessica Edinger, CNBC, Wall Street in the red this morning. Investors are digesting yet another Trump tariff threat. This time he posted he'll put a 200 percent tariff on French champagne and other EU spirits like wine. The Dow is down 71 points, extending its losses. It's down more than 3 percent for the week and it's being led lower by shares of Salesforce this morning down 2.5%. The S&P 500 index down 9 points, the Nasdaq down 72 points, almost a half percent.

Nvidia shares are slightly higher. Tesla shares are lower, down 2.5%. I certainly don't think the volatility is over and we aren't out of the woods yet. If you look at the S&P 500, we've had a 9% drawdown since the all time highs. But now the question is, will we enter a recession? Evans May wealths Lizzie Evans on CNBC. Wine and champagne producers in the EU

are facing this new post from President Trump adding a 200% tariff on alcohol they shipped to the US. I've been working all morning on the tariff, a possibility, the 200% tariff. I'm in the liquor business, my wife's in the liquor business. With champagne, it's actually devastating. You know, 200% tariff would roughly double the shelf price. 200% double the shelf price. Well, I, you know, I'm not going to be drinking Vivica Golf. It's like, you know, twice what it's for. So it's pretty punitive. CNBC Mad Money host Jim Cramer. Inflation at the wholesale level came in well below forecasts. Many economists believe as producers pay lower input costs, they might pass that down

and that can help the final price for consumers. February producer price index, the wholesale version of inflation on a headline expecting up three tens, up zero. Goose egg. Boy, that is progress. We haven't had a number that low. We equaled it in July of last year when we had another zero. CNBC's Rick Santelli. Microsoft still facing an investigation by the Federal Trade Commission, just like Amazon, even with

a change in the White House, according to Bloomberg. The FTC is moving forward with a broad antitrust probe of Microsoft. That investigation, which was opened in the final days of the Biden administration, will focus on the tech giant's AI operations. Now, Microsoft has yet to respond to CNBC's request for comment. The apparent move comes after the FTC revealed it was reversing plans and will move forward with its case against Amazon and allegations of deceptive practices by its prime unit. CNBC's Sylvana Hanau. SpaceX did not launch its rocket last night that will, when it eventually goes, take four astronauts up to the International Space Station and bring four back, including

two Americans stranded there since last June. Canada, challenging a new U.S. rule, requiring Canadians who are in the United States for longer than 30 days to register with the government. And Americans living in Canada today are worried about retaliation there. Would-be home buyers now have more than 40 housing markets out of the largest 200 in the U.S. where there are more homes for sale right now than there were in 2019 before the pandemic. So-called active inventory has rebounded in the single digits in Houston and Tampa, but it's dramatically more in places like Punta Gorda, Lakeland, Winterhaven, and Ocala, Florida,

Colorado Springs and Boulder, Colorado, Huntsville, Alabama, Memphis, Tennessee. The data are from Rezzy Club and Fast Company. Jessica Edinger, CNBC. Weeknights. I think bonds represent safety in a world where the president of noninflation has become the chief impediment to higher stock prices. Too many companies can be terrified. Jessica Edinger, CNBC.