The Nasdaq fell 5.8% on the second day following Trump's tariffs announcement, with Nvidia closing down 7.4%, Apple 7.3%, Netflix 6.7%, Meta 5%, and Amazon 4.2%
Amid steep losses, U.S. president says ‘my policies will never change’ — Stocks dropped sharply for a second day …
VarietyTodd Spangler
Context & Ripple Effects
This extends the initial post-announcement tech sell-off into a second trading day, with the Nasdaq’s decline deepening and the largest named technology stocks all closing lower.
The related coverage shows that tariff policy became the immediate market narrative: a later 90-day tariff pause drove a sharp Nasdaq rebound, underscoring how quickly valuations were responding to policy signals rather than company-specific news.
First-order effects
Investors immediately repriced exposure to major technology companies, with Nvidia, Apple, Netflix, Meta and Amazon all posting sizable one-day losses alongside the Nasdaq.
The second consecutive decline broadened the tariff announcement’s impact from an initial shock into a market-wide tech-sector sell-off.
Second-order effects
The synchronized declines make tariff-policy developments a near-term driver of tech-market risk, increasing the likelihood that subsequent announcements trigger further cross-company moves rather than isolated reactions.
Large platforms and chipmakers are being traded as a common macro basket, reducing the extent to which company-specific performance can set their share-price direction during the sell-off.
Third-order effects
If this policy sensitivity persists, public-market valuations for large tech companies may carry a larger risk premium for abrupt trade-policy changes.
The subsequent rebound after the tariff pause suggests a more structurally volatile market in which policy reversals can rapidly reset pricing across the sector.
The trend: This is one data point in the growing role of trade-policy announcements as a sector-wide valuation catalyst for major technology stocks.
started / going [left image: “Mark Zuckerberg says Trump's fist pump was 'one of the most badass things I've seen in my life'”, right image: “Why Trump's tariffs are rattling even Meta"]
@quinnypig.com
Corey Quinn on bluesky
Didn't Amazon just set an internal comp stock valuation of $250 when giving people performance targets for the year? Hard to get there from $171... [embedded post]
@pomurray
Po Murray on bluesky
📉 The fascist is not making America great with our economic sinking & our 401k plans tanking. I voted against all of this! [embedded post]
@linasrivastava
Lina Srivastava on bluesky
Are we winning yet? [embedded post]
@mollyknight
Molly Knight on bluesky
Zuck deserves every inch of this tho lmao [images]
@karaswisher
Kara Swisher on threads
Several sources tell me a passel of high profile tech and also finance leaders is making a trip to Mar-a-Lago to read Trump the riot act — um talk common sense — to him on the tariffs. Their million dollar donations to the inauguration is turning into billions and soon trillions…
@the_vagabondking
@the_vagabondking on threads
Somewhere Netflix execs trying to decide how much to raise the prices again, because of the tarrifs.
@dvassallo
Daniel Vassallo on x
Investors are reevaluating whether a business with almost no assets that operates in a competitive and saturated market is really worth a 43 P/E ratio, or whether their money is better deployed elsewhere.
@kantrowitz
Alex Kantrowitz on x
Tim Cook must be so mad right now
@joecarlsonshow
Joseph Carlson on x
The market is now in the phase of indiscriminate selling. Netflix has no business in China. Netflix does not import or export goods. Netflix is likely to gain customers during economic slowdown as they go away from travel, restaurants, and look for cheaper forms of entertainme…