Market Reacts to Tariff News

Investors in the U.S. technology sector faced a challenging day as shares of major companies experienced significant drops. This downturn followed President Donald Trump's firm stance on upcoming tariffs, emphasizing that there would not be "too many exceptions." The announcement has raised concerns about the potential impact on industries reliant on international supply chains, such as semiconductors and electric vehicles.

Notable Declines

By mid-morning, several leading tech firms saw their stock prices fall sharply. Marvell Technology Inc. led the decline with a 5.02% drop, closely followed by AppLovin Corporation and ARM Holdings PLC, which decreased by 4.83% and 4.86%, respectively. Nvidia Corporation and Tesla Inc. also felt the pressure, with losses of 4.46% and 4.19%. The Nasdaq 100 reflected this sector-wide slump, dropping by 1.09%.

Market Indices Show Mixed Results

While the tech sector struggled, the Dow Jones Industrial Average managed a modest gain of 0.39%. In contrast, the S&P 500 experienced a slight decline of 0.44%. Currency markets remained steady, with the euro holding at $1.07928 against the dollar.