U.S. Steel falls after Trump says Nippon will invest, not own company

In a joint press conference with Japanese Prime Minister Shigeru Ishiba, President Trump said: “U.S. Steel (X) is a very important company to us, the greatest company in the world for 15 years, many years ago, 80 years ago, and we didn’t want to see that leave, and it wouldn’t actually leave, but the concept psychologically not good. They’ve agreed to invest heavily in U.S. Steel as opposed to own it, and that sounds very exciting.” Shares of U.S. Steel are down 7%, or 2$.67, to $36.56 in afternoon trading following the comments.