April 4 - The sell-off in the "Magnificent Seven" tech stocks continued in premarket trading on Friday following President Donald Trump's imposition of the highest tariffs in a century.
Microsoft (MSFT, Financial), Meta (META, Financial), Alphabet (GOOGL), Apple (AAPL, Financial), and Amazon (AMZN, Financial) all saw share prices drop by less than 1%. However, Nvidia (NVDA, Financial) and Tesla (TSLA, Financial) recorded slight gains in premarket action.
On Thursday, the group of tech giants closed lower, with Apple particularly hit due to its significant manufacturing presence in China. The company saw a drop of over 9%, wiping out more than $300 billion in market value.
Amazon also faced a heavy loss, with shares sliding 9%, pushing its market value below the $2 trillion mark for the first time in a while. The company lost about $190 billion in market capitalization.
The broad decline in tech stocks is attributed to concerns over the economic impact of new tariffs, which have raised investor uncertainty.
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