The recent announcement of new tariffs by the Trump administration has led to a drop in shares of the so-called Magnificent Seven tech stocks by over 20%, pushing them into bear market territory. Companies like Alphabet, Amazon, and Tesla, which previously thrived due to excitement around artificial intelligence, are now facing heightened scrutiny regarding their valuations and potential impact on production and demand. Analysts suggest the tariffs could lead to a major economic downturn, with mixed expectations about the duration and severity of their impact on the tech sector.
Shares of Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia and Tesla are all down at least 20 percent from their recent highs.
It's probably the most absurd 36 hours that I've ever seen; this is an economic Armageddon if these tariffs come through.
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