The “magnificent seven” technological stocks experienced a short -term rebound on Tuesday – with Nvidia (Nvda) and Tesla (Tsla) Increase up to 8% and 7%, respectively – before the group reversed the course and ended the day in negative territory, because the imminent reciprocal prices led to the lower market.
Tesla and Apple (Aapl) displayed the most steep losses, both lowered by about 5%.
At the end: April 8 at 4:00 p.m.
Amazon (Amzn) fell 2.6%, while Google (Goog) dropped by 1.8%. Nvidia and meta (Meta) decreased by more than 1% and Microsoft (Msft) plunged a little less than 1%.
The group’s decreases shaved $ 315 billion in their stock market capitalizations, cumulatively, and have led to their total losses since the April 2 announcement of President Trump’s global tariff plan at 2.1 billions of dollars. Apple’s losses are deepest, the iPhone manufacturer losing $ 773 billion in market capitalization since April 2.
Trump’s agenda includes a 10% reference rate on all global imports, which has entered into force on weekends, as well as “reciprocal” rates which should come into force (April 9). Amazing 104% price on imports from ChinaA figure that the White House announced Tuesday, against the initial import tax of 54% planned for the country.
The prices Deeply affecting major technological actions, have declared many analystsDue to the dependence of businesses towards global supply chains.
Find out more: What Trump’s prices mean for the economy and your wallet
For example, 90% of Apple iPhones are made in China, many components of Tesla electric vehicles come outside the United States and Nvidia products are imported from Mexico and Taiwan. By aggravating things, some 50% of the revenues of Magnifiment Seven Firms come from abroad, said the chief economist of Apollo, Torsten Sløk on Monday. (Disclosure: Yahoo Finance belongs to Apollo Global Management.)
But the Nvidia servers imported from Mexico are exempt from prices under the agreement of the United States-Mexico-Canada-Canada, according to Bernstein analyst, Stacy Rasgon.
Microsoft is expected to undergo the least of Trump’s prices group because it has “the lowest exposure to consumer spending” and “a more foreseeable company from business technological expenses,” Davidson Da Davidson said in Yahoo finance in an email.
The brief Mag Seven Recovery came on Tuesday in the middle a news from Bilateral trade negotiations with Japan, which stimulated investors hopes that the White House could reduce trade agreements with other nations.
US Stock Futures linked to the S&P 500 (ES = F), the Nasdaq 100 in technology (Nq = f)and the industrial average of Dow Jones (YM = F)) Everything jumped early in the day but reversed management later.