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.
  • enkonju@lemmy.world
    10·
    14 hours ago

    Worst weekly drop in only 5 years? Buckle up, we’re not stopping until we set the 100 year record!