Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

Good morning. Today is Tuesday, March 4th. I'm Julie Morgan. New tariffs are shaking up auto stocks. A deal for Walgreens could become final this week, and the 23 and Me board did not accept the CEO's latest offer.

So, of course, we've talked about tariffs on this show, and you're hearing a lot about where they

stand on any given day, especially today. Some of the areas taking a hit are auto stocks, suppliers,

and ancillary industries. On Monday, President Trump

made his commitment to 25% tariffs on Canada and Mexico a reality, saying during a press

conference that there's no room left to make a deal before the midnight deadline. His remarks

sent shockwaves through an already tariff-sensitive market, driving the Dow down 650 points in its aftermath in shares of Detroit's Big Three, General Motors, Ford and Stalantis, along with Tesla spiraling lower into the close.

GM fell nearly 3.6%, Ford 1.77%, Stalantis dropped 3%, and Tesla, 2.8%.

The reaction was not isolated to just automakers. Suppliers like Aptiv, Lear Corp, Borgwarner, Magna International, and AutLiv were also under heavy selling pressure.

Dana Incorporated, which makes transmissions, drive shafts, and motion systems for Ford and

Stalantis vehicles, as well as parts for the mining and construction industry, experienced a

4.7% drop in its share price to a six-week low.

Adiant, which makes seats and interior component, saw its shares fall almost 7%, while shares of Ohio-based

Goodyear Tire and Rubber, the largest tire maker in Canada buckled by 6.5%.

The knee-jerk reaction to President Trump's comments underscored Wall Street's sensitivity

to tariff shocks. According to data cited by CNBC, the majority of U.S. autos are made domestically,

with just 16% made in Mexico and a little over 7% from Canada. However, a 25% tax on imports from those countries,

along with components imported from outside the U.S.,

will raise the cost of a vehicle by an average of $6,250,

an additional cost that most likely manufacturers and consumers will take on.

Both Mexico and Canada have vowed to retaliate against U.S. tariffs. Walgreens Boots Alliance is up 5.8% in pre-market action after the

...