Trump Tariffs Cause Tech Stocks to Plummet, Apple Hit Hardest
The U.S. stock market experienced significant turbulence after the announcement of new tariffs by President Donald Trump, causing a sharp decline in tech stocks. Apple, a leader in the technology sector, saw its shares drop dramatically, leading the market's downturn. The tariffs, aimed at various imports including those critical to tech manufacturing, have raised concerns about increased costs and potential trade wars.
Analysts from CNBC and Barron's reported that the tech-heavy Nasdaq index was particularly affected, with investors reacting swiftly to the news. The Financial Times highlighted the broader implications of these tariffs, suggesting that they could lead to higher prices for consumers and disrupt global supply chains. The New York Times focused on Apple's specific situation, noting that the company's reliance on international manufacturing made it especially vulnerable to these new trade policies.
The market's reaction underscores the sensitivity of the tech industry to trade policies and the potential ripple effects on the broader economy. As investors and companies brace for further developments, the situation remains fluid, with ongoing discussions about the future of U.S. trade relations.
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Is Apple affected by tariffs?
(Bloomberg) -- Apple Inc. is finding itself squarely in the crosshairs of President Donald Trump's new tariffs, even after a yearslong effort to insulate the iPhone maker from trade wars and supply chain disruptions.
Will Apple be exempt from tariffs?
In 2019, Apple was granted a series of waivers to avoid a 15% tariff on its flagship products including the iPhone, iPad, and MacBook range in 2019. However, so far there is no indication that it has received a similar exemption for the latest tariffs.
Is Nvidia affected by tariffs?
Nvidia (NVDA), TSMC (TSM), and other chip stocks fell Thursday following President Trump's announcement of sweeping reciprocal tariffs set to affect the semiconductor supply chain. Nvidia stock dropped over 5%, while rival Advanced Micro Devices (AMD) declined by about 4%.
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