Technology stocks fell for a second day Friday as retaliatory tariffs from China fueled fears of a global trade war.

KEY POINTS

  • The so-called Magnificent Seven stocks lost a combined $1.8 trillion in market value over the last two trading sessions.
  • Apple led the losses for the group shaving off more than $533 billion in market capitalization.
  • The Nasdaq recorded its worst week since 2020 as markets responded to mounting fears of a global trade war that could push the U.S. into a recession.
  • catloaf@lemm.eeEnglish
    18·
    19 hours ago

    Meh. They’re not going to really hurt from this. If anything they’ll use it as an excuse for layoffs, then give the CEO a bonus.

    • monarch@preferred.socialEnglish
      7·
      19 hours ago

      I think that’s the reason people don’t know how to feel. It will hurt the companies a little but the workers are going to be fucked.

      • Ledericas@lemm.eeEnglish
        4·
        16 hours ago

        and then when they rebound, they probably will HQ overseas for cheaper labor and they wouldnt need to hire any americans anymore. look at brexit, some corps immediately moved overseas after.