- Key Points
- Technology stocks teetered in volatile trading Monday as President Donald Trump stood by his sweeping global tariff plans following last week’s devastating selloff.
- The technology sector is coming off a brutal week, during which the Magnificent Seven shed more than $1.8 trillion in market value.
- The Nasdaq posted its worst week since COVID.
U.S. President Donald Trump’s adviser Elon Musk reacts on the day of a rally to support a conservative state Supreme Court candidate in an April 1 election in Green Bay, Wisconsin, U.S. March 30, 2025.
Following the devastating sell-off that happened last week, President Donald Trump maintained his expansive worldwide tariff plans, which triggered risky buying and selling in equity stocks on Monday. The Magnificent Seven stocks — Nvidia
, Apple
, Meta Platforms
Amazon, Microsoft, Inc., and the alphabet had been largely lower following a quick rally amid a quick try to level a rebound by way of the broader marketplace. Stocks temporarily jumped on the hypothesis of a probable postponement in the tariffs, but the White House later brushed off talk of a pause.
The generation sector is coming off a brutal week. During a day market selloff, the market value of the Magnificent Seven stocks reduced by more than $1.Eight trillion, even as the Nasdaq Composite recorded its worst week since the onslaught of the pandemic and entered an enduring market.
Over the weekend, Trump maintained his aggressive plans for worldwide price lists, initiating a unilateral 10% tariff on Saturday. Wall Street hoped for progress on negotiations among the management and other international locations or information of a likely delay in reciprocal tariffs slated for April nine.
The plan has already acquired a big backlash in corporate America. JPMorgan Chase
Monday, CEO Jamie Dimon said that the brand new taxes will put stress on the slowing U.S. economy by imposing elevated fees on both domestic and imported goods. Many automobile corporations have already introduced a pause in shipments, price hikes, and different measures. Trade corporations have also warned of higher charges at the grocery store and hikes on electronics consisting including non-public computers.
Trump told reporters on Air Force One on Sunday night, downplaying the recent marketplace fall apart, “I do not want anything to head down, however, now and again you need to take action to restore something.” Other generation stocks additionally appeared to build on remaining week’s pain. Oracle
and the Technologies of Palantir each reduced by more than 2%. Investors were worried approximately the price lists’ ability to affect demand, which contributed to the decline in a few semiconductor shares as well. Innovative Micro Devices went down about four on the give up, at the same time as Intel sank with the aid of more than 2%.