Tech sell-off: Magnificent Seven stock prices slump after China issues new trade warning
After a three-day weekend, investors’ attention was trained on the stock market this morning to gauge how a new trade warning from China would impact stocks. So far, it’s not a very pretty picture—especially for some of the market’s most influential tech stocks.
As of this writing, the S&P 500 is down 2.32% since Thursday (the market closed for Good Friday), the Nasdaq Composite has slumped by 2.61%, and the Dow Jones Industrial Average is likewise down 2.30%.
It’s the continuation of a trend for the three major U.S. indexes: Each has dropped in three of the four previous weeks as a result of Trump’s tariffs on major trading partners, causing experts to warn that we may be entering a bear market.
Major tech companies........
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