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Trump's tariffs hit hard, leading to the Large Cap of the US stock market "seven giants" evaporating over one trillion dollars overnight.
In Thursday's Trade, the total Market Cap loss of the "Big Seven" in the US stock market reached approximately 1.03 trillion dollars, marking a staggering milestone that highlights how Trump's tariff measures have severely impacted the financial markets. As Trump announced "reciprocal tariffs," it sparked a flight to safety, with Technology stocks leading a broad and severe market sell-off. The Nasdaq Composite Index, which is heavily weighted with Technology stocks, plunged about 6%, recording its largest single-day drop since 2020. Apple led the Large Cap decline with a stock price drop of 9.25%, the largest single-day drop in over five years; Amazon's stock price fell by about 9%, marking its largest single-day drop since 2022.
