Nasdaq 100 Sinks Into Bear Market as Trump Tariffs Spark Rout
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The Nasdaq 100 plunged into a bear market with its losses from a February high surging past 20% as investors ditch once high-flying tech shares in a broad market rout.
The six-week selloff has wiped out roughly $6.4 trillion from the tech-heavy benchmark since its peak, spurred by worries President Donald Trump’s tariffs will push the US economy into recession. The market value destruction has been biggest in the likes of Apple Inc. and Nvidia Corp., companies whose worth swelled past $3 trillion on optimism about artificial intelligence. Apple, the last of the $3 trillion holdouts, closed on Friday with a market value of $2.8 trillion.