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.
  • Ledericas@lemm.eeEnglish
    9·
    1 day ago

    i mean they dint pay 2.7 trillion taxes, so this can be fair game to them. maybe this is a way to tax the rich, but making lose almost as much.

    • littlebrother@lemm.eeEnglish
      1·
      13 hours ago

      Absolutely not.

      The rich have offshore accounts funneling money between countries currencies and stocks. They are well diversified. A crash won’t hurt them.

      This is killing the average worker. Exactly what they want.