Reported about 20 hours ago
Apple's stock plummeted over 9%, resulting in a loss of more than $310 billion from its market cap, marking its worst drop since March 2020. This decline was triggered by President Trump's announcement of reciprocal tariffs affecting 185 countries, particularly hitting Apple's crucial production hub in China, where 85% of iPhones are made. Other tech giants like Amazon and Meta also faced significant stock declines, causing a collective loss exceeding $1 trillion among major tech stocks.
Source: YAHOO