NVIDIA (Nvda), Apple (Aapl) and Tesla (Tsla) All of them sang on Friday, leading to the decline of the “Magnificent Seven” while a growing trade war sparked a wide sale at Wall Street.
Chipmaker Nvidia fell by more than 7% while the manufacturer of EV Tesla refused more than 10%, helping to send the heavy nasdaq composite of technology (^ Ixic) in the territory of the lower market.
Shares of the Meta social media platform (Meta) flow more than 5%. And Apple (Aapl) The stock dropped 7% after the iPhone manufacturer destroyed more than $ 310 billion From its market capitalization during the previous session to harbor your worst day since March 2020.
Nvda Tsla Aapl
Technological actions were affected for a second consecutive day after China has announced reprisals against the United States in reaction to the brooms of President Trump on imports from other countries.
Trump’s reprisal rates, which included additional samples from China which bring its rate of 54%, prompted one of the largest technical bulls of Wall Street to Keep up against the rise in electronics prices, including $ 3,500 iPhones.
Find out more: What Trump’s prices mean for the economy and your wallet
“The concept of bringing the United States back to the” days of manufacture “of the 1980s with these prices is a bad scientific experience that will cause economic Armagedon in our opinion and crush technological trade, the theme of the AI revolution and the global industry in the process,” wrote Dan Ives de Wedbush in a note on Friday.
Wall Street warned a world Recession if tariffs are kept in place.
In an interview published on Friday, the secretary of the Treasury Scott Bessent came out to defend Trump’s trade policies.
“The markets go up and down,” said Bessent. “For all those who think that these market cuts are all based on the president’s economic policies, I can tell you that this drop in the market began with the announcement of the Chinese DEEPSEEK AI”, ” Bessent said to Carlson In an interview recorded Thursday.
The January publication of Chinese startup Deepseek, the Chatbot AI, sent NVIDIA shares and other technological actions as investors raised questions on high assessments and high expenditure in artificial intelligence.
“If I was the analysis in my old hat … What is happening with the market, I would say that it is more a problem of Mag 7, not a Maga problem,” said Bessent, who directed a hedge fund.
Actions briefly reduced a few losses on Friday morning after Trump said Vietnam wants to reduce its “zero” prices if it can conclude an agreement with the United States, which makes hope that other countries would do the same.