On Thursday, Apple's shares plunged over 9% following President Trump's announcement of potential tariffs on products made abroad, marking one of the worst trading days for the company in five years. This decline triggered a broader sell-off in the tech industry, where major players like Nvidia, Microsoft, and Amazon collectively lost about $1 trillion. Analysts expressed concern that these tariffs could disrupt the American economy, affecting consumer demand and Apple's profit margins significantly, especially since the company relies heavily on overseas manufacturing for its devices.
Today is an across-the-board disruption of the American economy, so anything with consumer exposure is getting creamed.
The declines at Apple, Nvidia, Microsoft, Meta, Alphabet and Amazon resulted in one of the industry's worst-performing days since the Covid-19 pandemic turned the global economy upside down.
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