Trump Tariffs Trigger Tech Megacaps’ $1.8 Trillion Crash
Fueled by President Trump’s new tariffs and fears of a global trade war, technology stocks experienced a massive selloff, losing a combined $1.8 trillion in market value over two days. The “Magnificent Seven” megacaps were hardest hit, with Apple losing over $533 billion and Tesla dropping more than 10% on Friday alone. Broader technology sector losses were also significant, impacting companies like Nvidia, Amazon, and semiconductor manufacturers, causing the Nasdaq to suffer its worst week since March 2020. This downturn reflects widespread concern over the economic impact of escalating trade tensions.
John Q. Hosedrinker