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Trump's tariffs shock Wall Street/ Apple falls 9%, tech sector loses hundreds of billions of dollars
2025-04-03 19:35:57 / BOTA
Shares of major technology companies plunged on Thursday after Donald Trump announced massive new tariffs. Apple, one of the hardest hit, fell 9%, wiping more than $293 billion from its market value.
If the losses remain at the same level until the close of trading, it will mark Apple's biggest daily drop since March 2020.
The ripple effect on the stock market
It wasn't just Apple that was shaken. Microsoft fell 3%, Meta lost 8%, Amazon 9%, Google 4% and Tesla 7%, reflecting investor concerns about the impact of tariffs on the technology industry. These companies rely on production chains outside the US, particularly in China, Vietnam and India, making them particularly vulnerable to rising import costs.
Analysts warn that tariffs could reduce profit margins and lead to higher prices for consumers. Angelo Zino of CFRA Research noted that Apple is likely to try to mitigate the impact through changes to its supply chain, but warned that any large price hikes could hurt its revenue.
This development shows that trade tensions caused by Trump's tariffs could have major consequences for financial markets and the technology sector in the coming months.
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