Reported 10 days ago
The 'Magnificent Seven' tech stocks, including Tesla and Apple, face significant losses of over $2 trillion due to new tariffs announced by President Trump. After a brief recovery, these stocks dropped sharply, contributing to a combined market cap reduction of $315 billion as looming reciprocal tariffs on imports, particularly from China, take effect. Apple, hit hardest with nearly $773 billion lost, exemplifies the heavy toll on companies heavily reliant on global supply chains.
Source: YAHOO