From the archive
Technology stocks plummeted Thursday and the Nasdaq Composite Index dropped 4% on the heels of its record-setting session. The index is headed for its best week since September. CNBC reported. Markets reversed course, giving up some gains from a monster rally after President Trump announced a 90-day pause on some tariffs and dropped the tariff on most countries to 10%
On Wednesday, Donald Trump, once again, took to Truth Social to abruptly shift US trade policy, announcing a 90-day pause “substantially” lowering reciprocal tariffs against all countries except China to 10 percent, ArsTechnica reported. Because China retaliated - raising tariffs on US imports to 84% on Wednesday Trump increased tariffs on China imports to 125 percent “effective immediately.” That will
President Trump needs to temper his tough trade talk by adding achievable and measurable goals that can provide the basis for discussions, he was advised, or equity markets will continue to sell off, Fortune reported. According to a report by Politico, Treasury Secretary Scott Bessent urged his boss to provide greater clarity to investors about his ultimate intentions. Up to
Tech stocks swung wildly as Trump reaffirmed global tariff plans, rattling markets after last week’s $1.8 trillion sell-off. Major players like Alphabet, Amazon, Meta, and Nvidia closed higher despite early losses. Apple and Tesla ended in the red, while hopes of tariff delays briefly buoyed sentiment. Wall Street braced for a broader economic fallout, with corporate leaders warning of rising
Apple stock dropped 4% in early Friday trading broadly following yesterday’s trend after China announced reciprocal tariffs in response to U.S. President Trump’s trade policies, MacRumors reported. The latest decline follows Thursday’s dramatic 9% plunge that erased nearly $300 billion from Apple’s market value - the company’s worst single-day performance in five years - amid growing fears that Trump’s trade
TSMC and Intel have reached a preliminary deal where TSMC will help operate Intel’s chip facilities and own a 20% stake in a new joint venture. The agreement, influenced by U.S. efforts to revitalize domestic chip production, may involve TSMC sharing manufacturing techniques and training Intel staff. While still in early stages, the move marks a surprising partnership between long-time
Technology stocks plummeted Thursday after President Donald Trump’s new tariff policies sparked widespread market panic, CNBC reported. Apple led the declines among the so-called “Magnificent Seven” group, dropping more than 8%. The iPhone maker makes its devices in China and other Asian countries. The stock is on pace for its steeper drop since 2020. The tech heavy Nasdaq Composite dropped