Tech megacaps lose $770 billion in value as Nasdaq suffers steepest drop since April
Business
Shares of Amazon , Nvidia and Tesla each dropped around 5% on Friday, as tech's megacaps lost $770 billion in market cap, following President Donald Trump's threats for increased tariffs on Chinese goods. With tech's trillion-dollar companies occupying an increasingly large slice of the U.S. market, their declines send the Nasdaq down 3.6% and the S&P 500 down 2.7%. For both indexes, it was the worst day since April, when Trump said he would slap "reciprocal" duties on U.S. trading partners.
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