The post Trump’s tariff policy wipes over $1 trillion from the magnificent 7’s market cap appeared on BitcoinEthereumNews.com.

President Donald Trump’s tariff policy has had a far-reaching impact on the U.S. stock market, with a particular effect on the tech giants known as the “Magnificent 7.” During the recent trading day, the combined market capitalization of Apple, Microsoft, Amazon, Alphabet, Meta, Nvidia, and Tesla plummeted by over $1 trillion. The Magnificent Seven index fell more than 6% overall. Moreover, the seven mega-cap technology stocks that comprise the closely watched index collectively lost about $1.03 trillion in market capitalization. Nasdaq nosedives nearly 6% as Trump’s tariff blitz hammers tech sector Technology stocks spearheaded a widespread and intense market sell-off after the unveiling of Trump’s long-anticipated tariff policy sparked a sharp shift toward risk aversion. The tech-focused Nasdaq Composite plunged nearly 6%, marking its worst trading session since 2020. Apple was among the hardest hit, with megacap tech stocks suffering a wave of losses. Shares of the iPhone maker fell by more than 9%, its biggest single-day decline in over six years. Investors became increasingly worried about the potential impact of Trump’s sweeping tariff proposals on Apple’s overseas manufacturing operations, especially in China. Other tech heavyweights were not spared, either. Amazon dropped nearly 9%, its biggest single-day decline since 2022. Nvidia, the artificial intelligence giant and a darling of retail investors, fell by more than 7%.  Even Microsoft, which had reportedly started to roll back data centre projects worldwide, saw its stock price dip by more than 2%. The wider tech sector remains exposed, particularly as Trump has alluded to imposing tariffs on even more industries, including semiconductors. Source: CNBC Despite the market fallout, Trump continues to issue executive orders, appearing to have no plan to reverse this trend. To further illustrate, Trump signed an executive order closing the de minimis trade loophole, which permitted duty-free entry into the United…

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Filed under: News - @ April 4, 2025 10:28 am