WINONA, Minn. – Publicly traded stock in Winona-based Fastenal dropped like a stone to $70.82 after the New York Stock Exchange opened Monday. There were jagged ups and downs during the day but at the close the company’s shares were even lower than the close Friday. The two-day decline to $72.16 was the worst for Fastenal investors since a 52-week high of $84.88. The loss was part of sudden and massive sell-offs of U.S. stocks triggered by President Trump’s new tariffs, including 84% on imports from China. Stock traders have been spooked at the Trump tariffs, which defy historical experience with disastrous global trade wars. In fact, China has responded to the new Trump trade restrictions by slapping reciprocal restrictions on exports from the United States. The Chinese announcement further dampened U.S. stocks and also markets in other countries.
