Following the new tariff policies of President Donald Trump, technology shares diverted on Thursday, causing widespread market nervous.
Apple led a sharp decline between the “luxurious seven” technical shares, dropping about 9%. According to CNBC, the iPhone manufacturer, who manufactures many of its equipment in China and other Asian countries, is on track for its biggest decline since 2020.
Tech-Havi Nasdac Composite fell more than 5%, leading to its worst performance in five years. The index has fallen 14% of the year.
Other major technical companies also felt the impact. Both the meta platform and Amazon fell more than 7%, while Nvidia and Tesla slipped more than 5%. NVIDIA, which produces its chips in Taiwan and assembles artificial intelligence systems in Mexico, was particularly hard-hit. Microsoft and the alphabet fell by about 2%each.
Semiconductor stock Marvel Technology, ARM holdings and micron technology falling over 8%, as well as suffering. Broadcom and Lam Research fell 6%, while advanced micro devices fell over 4%. Individual computer manufacturers Dale and HP saw significant losses, both stocks fell over 16%.
Trump had unveiled the blanket 10% tariff on all imported goods by Trump, as well as a comprehensive market recession of a broad market recession, along with the unveiling of the blanket 10% tariffs as well as high duties targeting high duties that target high duties. The new tariff was described by Trump as a “declaration of economic freedom” to the US.
Tariff measures include 34% tax on China, in addition to the last 20% levy, 46% duty on imports from Vietnam, and 20% tariff on goods from the European Union. In response, the Chinese Ministry of Commerce called for immediate cancellation of Tariff and warned of “Razolute Counter-Upa”.
Tariff came on a difficult time for Tech-Havi Nasdac, which had already experienced a difficult quarter, which worried about a weak American economy weighing on stock. Trump, however, appreciated some of the largest technical companies to invest in the US, highlighted Apple’s plan to spend $ 500 billion in the next four years.
