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History shows that buying stocks when they "go on sale" during a down period can be extremely rewarding for investors.
President Trump's tariffs have sent the markets (^DJI, ^GSPC, ^IXIC) plunging, especially the tech-heavy Nasdaq. Apple (AAPL) and Amazon (AMZN) were hit particularly hard among Big Tech.
Dan Ives, Wedbush, reacts the tech sell-off following the latest round of tariff negotiations.
Erik Woodring, analyst at Morgan Stanley, joins 'Closing Bell' to discuss Apple as the stock heads for the worst drop in five years.
All three major US index funds close down as Apple and Nvidia, two of US's largest companies, lose combined $470bn
Apple in recent years developed new supply chains to diversify its manufacturing from China. It seemed like a solid strategy until President Donald Trump's "reciprocal tariffs" on Wednesday.
The whole U.S. stock market is feeling the pain from the sweeping new tariffs that President Trump announced Wednesday after the market closed. As of 1:10 p.m.
Apple is being heavily impacted by President Trump's new tariffs, which will affect its supply chain and manufacturing centers in several countries, including China, India, Vietnam, Malaysia, Thailand, and Ireland. The tariffs will reach 34% for China, 27% for India, 46% for Vietnam, 24% for Malaysia, 37% for Thailand, and 20% for Ireland, threatening to disrupt Apple's global supply chain.
As a whole, Magnificent Seven stocks were on pace to drop more than $800 billion in market cap. That reflects how tech stocks have led the broader market amid Thursday's steep sell-off.
The equity markets are seeing a broad selloff in the wake of President Trump's announcement yesterday on reciprocal tariffs, led by “Magnificent 7” stocks.