The Nasdaq closed down 4% on April 10, with Meta down 7%, Nvidia down 6%, Amazon down 5%, and Apple down 4%, after the US confirmed tariffs on China total 145%

Technology stocks plummeted Thursday and the Nasdaq Composite dropped 4% on the heels of its record-setting session.

CNBC 2025-04-11 Samantha Subin

Context & Ripple Effects

This was the latest leg of a tariff-driven technology selloff that began after the announcement of new global tariffs, when major platform and chip shares fell sharply across the sector. The April 10 decline followed a 5.8% Nasdaq drop two trading days after the announcement and a third consecutive session of pressure on large US technology stocks.

The confirmation that China tariffs totaled 145% gave investors a more concrete policy input after a record-setting Nasdaq session, intensifying the repricing of the same large-cap names that had led the earlier declines.

First-order effects

The Nasdaq’s 4% fall immediately reduced the market value of Meta, Nvidia, Amazon and Apple, with Meta and Nvidia taking the largest named declines.
The 145% tariff confirmation became the immediate catalyst for a broad reassessment of technology-stock risk rather than an isolated move in one company.

Second-order effects

The repeated selloff increases pressure on investors to distinguish companies by their exposure to China-linked supply, demand and hardware ecosystems; Nvidia and Apple are especially central names in that reassessment.
Large-cap tech’s synchronized moves can transmit tariff uncertainty through the Nasdaq, as shown by the third straight tariff-linked decline earlier that week, rather than leaving the shock confined to a single industry segment.

Third-order effects

If tariff policy remains a recurring market driver, technology valuations may become more sensitive to trade-policy changes and less anchored solely to company-specific execution.
The episode reinforces a broader structural question for AI and consumer-device markets: whether globally distributed supply chains can absorb trade friction without repeated repricing across chip suppliers, platforms and device makers.

The trend: Trade-policy escalation is becoming a cross-sector valuation risk for large technology companies whose ecosystems span chips, devices, cloud infrastructure and global markets.

Discussion

@norbizness @norbizness on bluesky
So if we give back 50% of a historical rally which only reclaimed 30% of the original disastrous historical tumble then I WAS TOLD THERE WOULD NOT BE MATH ON THIS QUIZ
@jessicawildfire Jessica Wildfire on bluesky
Oh, no. It looks like Wall Street remembered that a trade war with China is a really, really bad idea. — www.cnbc.com/2025/04/09/s...
@drudnerbraha @drudnerbraha on bluesky
The Chinese are smart. They are methodical, disciplined and calculating; no match for 🍊🤡 and his band of gypsies. They will not take this lying down. — The damage is done. They will strike back! Actually, they already are...
@ericcolumbus Eric Columbus on bluesky
TARIFFS AS OF RIGHT NOW: — 💥 145% on all goods from China — 💥 25% on aluminum, autos, and goods from Canada and Mexico not under the United States-Mexico-Canada Agreement — 💥 10% on everything else — www.cnbc.com/2025/04/09/s... [embedded post]
@mommamia @mommamia on bluesky
He is a mad man. — And this is your reminder that the Republicans can stop this at any time. — They have chosen not to. www.cnbc.com/2025/04/10/c...
@karlbode.com Karl Bode on bluesky
so not at all fucking “paused” then — keep up the great work, U.S. journalism
@karaswisher Kara Swisher on bluesky
Chaos monkeys are not cool to Wall Street www.cnbc.com/2025/04/09/s...
@nicktimiraos Nick Timiraos on x
Despite a decent auction, the 30-year Treasury yield rose 6 bps to 4.849% on Thursday. Yields are up every day this week by a cumulative 0.458 percentage point, the largest four-day yield gain since March 18, 2020. Meanwhile, the dollar weakened nearly 1.6% on the day. From [imag…
@secscottbessent @secscottbessent on x
During today's meeting to confirm the start of formal discussions on reciprocal trade with Deputy Prime Minister Ho Duc Phoc of Vietnam, I emphasized the need for continued engagement and quick, demonstrable progress to resolve outstanding issues. [image]
@thestalwart Joe Weisenthal on x
@DavidSacks David please stop tweeting about the market!
@thestalwart Joe Weisenthal on x
6 straight days
@mattyglesias Matthew Yglesias on x
We're doing a form of trade war with China where half the stuff normal Americans buy will get more expensive, but China still gets access to the leading edge technology they need to dominate AI and whatever else.
@elerianm Mohamed A. El-Erian on x
Gold at a record level and the DXY dollar index at its weakest in two years speak to more than the current period of uncertainty and volatility. They also reflect the intensification of a worrisome multi-year process that I have written about many times — that is, the very [image…
@thestalwart Joe Weisenthal on x
*TRUMP ON STOCK MARKET DROP: I HAVEN'T SEEN IT
@senrubengallego Senator Ruben Gallego on x
🚨The S&P just had its worst 4-day drop ever—then its biggest gain since 2008. Trump said “BUY!!!” before suspending the tariffs. Did Trump and his billionaire donors profit from insider trading? @SenAdamSchiff and I are demanding answers.
@thestalwart Joe Weisenthal on x
After yesterday's pause, I was like “ok, back from the edge, but I'm still worried about recession dynamics taking hold”. I didn't think that 24 hours later, we'd be back to staring at this chart of long-term yields [image]
@thestalwart Joe Weisenthal on x
It's interesting that the market is getting killed, and yet rather than talking about that directly, Democrats still want to talk about insider trading conspiracy theories that rest on the (let's be honest, improbable) assumption that Trump's inner circle is well coordinated.
@buccocapital @buccocapital on x
Guy at Goldman watching the market today after he published a recession call yesterday and then rescinding it 73 minutes later when the market ripped [image]
@buccocapital @buccocapital on x
It is the height of arrogance to assume they can keep pressing buttons and turning policy on and off while remaining in control of the situation That is not how this works.
@buccocapital @buccocapital on x
Stocks down. 10yr bond yields up. Dollar down. Gold up. Art of the Deal
@divestech Dan Ives on x
This is the issue..@levie 🏆🔥👇💯💯
@buccocapital @buccocapital on x
I can't stop laughing [image]
@danprimack Dan Primack on x
Stock markets are acting like crypto markets
@howardlutnick Howard Lutnick on x
The Golden Age is coming. We are committed to protecting our interests, engaging in global negotiations and exploding our economy.
@mikeisaac Rat King on x
145 percent lol tech earnings are in three weeks and i will bet you a dollar every company pulls their full year guidance [image]
@teroterotero Tero Kuittinen on x
Anyway, S&P goes up 9% only in bear markets. Years like 1929 and 1933 and 2008. Because 9% bounces are a symptom of a disease.
@levie Aaron Levie on x
Sadly people got too excited yesterday about a “tariff pause” that actually had tariffs at a higher amount than they were at the start of this process. Now with China at 145% we're just back to where we started. We need to move on from this craziness and let businesses operate.
@patrickmcgee_ Patrick McGee on x
Can @tim_cook save @Apple from Being Crushed by Trump? My essay in the @nytimes today, on the biggest threat to Apple since Steve Jobs returned to the company in 1997. https://www.nytimes.com/... [image]
r/NewsOfTheStupid r on reddit
Trump trade advisor says stock market plunge ‘No big deal’
r/moderatepolitics r on reddit
U.S. tariffs on China reach 145% in latest escalation, de minimis exception ending.

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