Why Cleveland-Cliffs, Steel Dynamics, and Nucor Corp Are Surging Today (Hint: It Has to Do With President Trump)
Steel stocks surged this morning after the Trump administration said over the weekend it will double steel and aluminum tariffs from 25% to 50%. Shares of Cleveland-Cliffs (NYSE: CLF) have blasted roughly 26% higher as of 10:43 a.m. ET today. Shares of Steel Dynamics (NASDAQ: STLD) and Nucor (NYSE: NUE) have also jumped roughly 11%…