Tech megacaps lose $1.8 trillion in 2 days as Trump tariffs lead Nasdaq to worst weekly drop in 5 years
Tech megacaps lose $1.8 trillion in 2 days as Trump tariffs lead Nasdaq to worst weekly drop in 5 years
Technology stocks fell for a second day Friday as retaliatory tariffs from China fueled fears of a global trade war.
KEY POINTS
- The so-called Magnificent Seven stocks lost a combined $1.8 trillion in market value over the last two trading sessions.
- Apple led the losses for the group shaving off more than $533 billion in market capitalization.
- The Nasdaq recorded its worst week since 2020 as markets responded to mounting fears of a global trade war that could push the U.S. into a recession.
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Does anyone else not know how to feel about this?
Gleeful that the megacaps just got their genitals fed into a meat grinder, but pissed off that it probably won’t do shit in the long run, and sad for whatever repercussions await those not even tangentially involved far, far down the economic chain. Best I can do.
Don't worry the 1% makes huge amounts of profits when the market crashes and even more when it goes back up.
they will just get golden parachutes, after eliminating some low level employees, rinse and repeat, from a mba.
Meh. They're not going to really hurt from this. If anything they'll use it as an excuse for layoffs, then give the CEO a bonus.
I think that's the reason people don't know how to feel. It will hurt the companies a little but the workers are going to be fucked.
and then when they rebound, they probably will HQ overseas for cheaper labor and they wouldnt need to hire any americans anymore. look at brexit, some corps immediately moved overseas after.
But Trump says tariffs will bring the jobs back home!
Terrified of the possibility of a repeat of the 2008 financial crisis. Having grown up watching my family get through it did not endear me to the prospect of going through it myself. I was making good money 6 years ago. We are scraping by today. If things get as bad as 2008 again, I honestly have no idea what we'll do.
This is going to make '08 look like a picnic.
I'm quite happy tbh. The 1% are starting to feel the same anxiety most of us feel every single day
The sell off is the 1%. They aren’t gonna be hurting, they want the crash to buy the dip