Intel Corporation's Stock Takes a Hit

Intel Corporation's stock experienced a significant drop, falling as much as 7% in premarket trading on Friday. This decline came after China announced a 34% retaliatory tariff on all US goods, set to take effect on April 10. The tariffs are a direct response to the recent measures imposed by US President Donald Trump on Chinese imports.

Semiconductor Sector Feels the Pressure

The semiconductor industry was among the hardest hit, with notable companies like Nvidia and Apple seeing declines of around 4%, and Broadcom dropping by 6%. These new tariffs are anticipated to escalate costs for US chipmakers and disrupt existing supply chains, which could, in turn, squeeze profit margins.

Market Reaction

By 6:59 am ET, Intel's shares had decreased by 6.29%, trading at $21.05 in the premarket in New York.