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
www.cnbc.com 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.
You're viewing a single thread.
23
comments
I imagine a lot of this data is because they are the ones cashing out so I don't know how accurate this is. I feel Its more likely the American population's 401k are losing the value here. Billionaires selling off billions vs my measly 100k is going to have a more dramatic market effect. If that's the case hopefully we see some massive capital gains tax... But my guess is this money is being reinvested somewhere else or offshored.
23
comments