‘Worst-Case Scenario’ for Tech Wipes $1.4 Trillion from Nasdaq
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There’s virtually nowhere to hide for many US technology companies under President Donald Trump’s new tariff regime, the harshest in a century.
After Thursday’s slump wiped $1.4 trillion in market capitalization from the Nasdaq 100 Stock Index, the gauge is down 16% in the past six weeks. The Magnificent Seven even more, at 20%. Chipmakers are in free fall. And there’s little sign the pain will end anytime soon, as seen by Friday’s 2.7% tumble in the Nasdaq 100 as China retaliated.