Apple stock drop: AAPL led tech losses as Trump’s new import taxes sparked investor concerns over supply chain disruptions. Levies range from 10% to 49% and are aimed at major trading partners such as China, Europe, and Japan.
Tech Stocks Take a Hit
Apple stock fell over 6% in extended trading, marking its biggest drop since 2020 if losses continue into Thursday. Other major tech companies also suffered losses:
- Nvidia (NVDA stock) declined 4%, as its chip production in Taiwan and Mexico faces uncertainty.
- Tesla (TSLA) dropped 4.5%, reflecting concerns over rising costs.
- Amazon (AMZN), Alphabet (GOOGL), and Meta (META) fell between 2.5% and 5%.
- Microsoft (MSFT) slid nearly 2% in after-hours trading.
A New Trade War Under Trump’s Tariff Plan?
Trump pledged to increase American manufacturing while lowering dependency on foreign suppliers, calling his tariff strategy a “declaration of economic
- 10% blanket tariff on all imports.
- 34% tariff on Chinese goods.
- 20% tariff on European imports.
- 24% tariff on Japanese products.
Despite market reactions, Trump praised Apple, Meta, and Nvidia for investing in the U.S., claiming Apple plans to spend $500 billion on domestic projects.
Market Response and Upcoming Events
Due to general market nervousness, the S&P 500 ETF plummeted 2.8% and the Nasdaq 100 ETF lost more than 3%.Q1 2025 was the Nasdaq’s worst quarter since 2022, with a 10% drop recorded.
Given the strain on supply chains, investors will be closely watching to see whether Apple, TSMC (TSM stock), and other semiconductor giants alter their strategies.
Source: CNBC
