Market Reacts to Trump's Sweeping Tariffs

In a dramatic premarket session on Thursday, technology giants experienced significant losses as investors reacted to the introduction of sweeping new tariffs by United States President Donald Trump. The move has sparked widespread fears of a potential escalation in global trade tensions.

Notable Declines Among Tech Leaders

As of 7:28 a.m. ET, Apple Inc. saw its shares plunge by 7.24%, marking a continuation of its recent downward trend. Amazon.com Inc. was not far behind, with a drop of 6.31%, while Nvidia Corporation fell by 5.53%, highlighting growing concerns over chip exports. The downturn also affected Meta Platforms Inc., which slumped by 4.70%, alongside Alphabet Inc. and Microsoft Corporation, which retreated by 3.03% and 2.70%, respectively.