New tariff policies are casting a shadow over the global technology industry. At the close of trading on March 10, the US S&P 500 index fell 2.7% to 5,614 points. This is the sharpest decline in the past 18 months.
Things are getting worse for tech investors. The seven most valuable tech companies lost more than $750 billion in value on March 10, with Nasdaq recording its worst day since 2022.
According to CNBC, concerns about tariffs and growth have impacted technology stocks. Tech-related stocks on the Nasdaq have been down for the past three weeks. Recession fears and trade war concerns have fueled the sell-off.
Apple led the list of companies with the biggest losses. The iPhone maker's market capitalization fell by about $174 billion in one trading session.
Apple is the technology company most affected after the March 10 trading session of US stocks
PHOTO: CNN SCREENSHOT
Meanwhile, Nvidia lost nearly $140 billion in market value as its shares fell about 5%. In just two months, the world's leading maker of AI (artificial intelligence) chips has lost nearly a third of its value from its January high.
Billionaire Elon Musk's Tesla shares also saw a sharp decline of up to 15%, marking the worst trading day since 2020. The company has lost more than half its value since its stock price peaked in mid-December last year.
In a recent interview on Fox Business , Mr. Musk admitted that the company he runs is "very difficult" due to falling stocks. Tesla has lost more than 50% of its market capitalization, equivalent to nearly $800 billion, while social network X has been repeatedly shut down due to "cyberattacks."
Microsoft and Alphabet (parent company of Google, YouTube) lost $98 billion and $95 billion respectively in a day of forgettable trading for US stocks. The list of tech companies affected by this decline also included Amazon, which lost $50 billion in market capitalization. Mark Zuckerberg's Meta lost $70 billion in value.
The sell-off is intensifying in technology stocks, with the Nasdaq index falling to a six-month low, according to market watchers. Many technology companies that rely on overseas factories and production lines will be directly affected by President Donald Trump’s tax policies. This will push up equipment prices, making it difficult to compete, leading to a decline in sales.
The sell-off in tech stocks was also influenced by general concerns about a US economic recession. In an interview with Fox News on March 9, Mr. Trump spoke frankly about the possibility of a US recession due to new economic policies. "I hate to make predictions like that. But America is in a transition period, we are doing very big things," he said. This statement immediately affected the general sentiment of the market.
Semiconductor manufacturers are also preparing for the worst. The sector is a prime target of the new White House tariffs. Last week, President Donald Trump and TSMC Chairman and CEO CC Wei announced a $100 billion investment to build five factories in the United States over the next few years. The US president called it “the most powerful company in the world” as he seeks to bring semiconductor manufacturing back to the US. This has also sparked a major debate in the technology industry about changes to the global supply chain, signaling major uncertainties ahead.
Source: https://thanhnien.vn/apple-vua-bi-thoi-bay-174-ti-usd-gia-tri-185250311103143507.htm
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