Since President Donald Trump took office in January, technology stocks have plummeted over 7% due to new tariffs sparking a trade war and increasing risk-off sentiment on Wall Street. Concerns about inflation and global shockwaves have led investors to sell off winning stocks, particularly in the S&P 500 technology sector, which fell 1% on Tuesday and is now down 7.7% since Trump’s inauguration. Leading companies like Apple and Nvidia could face higher manufacturing costs as a result of the tariffs, with Nvidia experiencing a nearly 9% drop on Monday and a total 16% decline since Trump’s presidency began.
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