Market Reacts to Tariff Uncertainty

On Wednesday, a wave of concern swept through the U.S. technology sector as shares of major companies took a significant hit. This downturn followed President Donald Trump's firm stance on imposing tariffs with limited exceptions, set to take effect on April 2. Investors are particularly wary about how these measures might affect industries reliant on international supply chains, such as semiconductors and electric vehicles.

Notable Declines in Tech Stocks

By 10:33 am ET, the market saw sharp declines: Marvell Technology Inc. dropped by 5.02%, AppLovin Corporation by 4.83%, ARM Holdings PLC by 4.86%, Nvidia Corporation by 4.46%, and Tesla Inc. by 4.19%. Consequently, the Nasdaq 100 fell by 1.09%, or 220 points, by 10:49 am ET.

Mixed Movements Across Major Indices

Meanwhile, the Dow Jones Industrial Average experienced a slight increase of 0.39%, or 166 points, while the S&P 500 saw a minor decline of 0.44%. The euro remained stable against the dollar, trading at $1.07928.