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.
  • littlebrother@lemm.eeEnglish
    1·
    23 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.