Tech Stocks Lose $770 Billion in Market Value Following Trump Tariff Threats
By
rntn
7mo ago· 3 min readenNews
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Summary
Major technology companies including Amazon, Nvidia, and Tesla experienced significant stock price declines of around 5% each, resulting in a collective $770 billion loss in market capitalization. This sell-off was triggered by President Donald Trump's threats to impose increased tariffs on Chinese goods, causing the Nasdaq to drop 3.6% and the S&P 500 to fall 2.7% - the worst single-day performance for both indexes since April.
Key quotes
· 4 pulledShares of Amazon, Nvidia and Tesla each dropped around 5% on Friday, as tech's megacaps lost $770 billion in market cap
With tech's trillion-dollar companies occupying an increasingly large slice of the U.S. market, their declines sent the Nasdaq down 3.6% and the S&P 500 down 2.7%
For both indexes, it was the worst day since April, when Trump said he would slap 'reciprocal' duties on U.S. trading partners
After market close on Friday, Trump declared in a social media post that the U.S. would impose a 100% tariff
Nvidia dropped almost 5%, pacing a steep decline in tech stocks, after President Trump threatened more tariffs on China.
