Tech Giants Lose Over $800 Billion as Market Reels from Tariff Impact
The stock market experienced a significant downturn on April 3, 2025, with technology giants, collectively known as the 'Magnificent Seven,' losing more than $800 billion in market value. This sharp decline was primarily driven by the adverse effects of new tariffs announced by the Trump administration, escalating concerns over a potential trade war.
Apple and Nvidia were among the hardest hit, each shedding over $100 billion in market value. The impact was particularly severe for Apple, which led the group toward a potential $1 trillion wipeout. The sell-off was widespread, affecting other major tech stocks as investors reacted to the tariff news.
Analysts pointed out that the tariffs could disrupt global supply chains and increase costs for tech companies, which heavily rely on international trade. The market's reaction underscores the sensitivity of the tech sector to trade policy changes and the broader economic implications of such measures.
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