U.S. markets experienced the worst day of the year on Monday as the escalating U.S.-China trade war stoked investors' fears about a global slowdown. Big Tech was, however, with Microsoft, Apple, Amazon, Alphabet and Facebook losing a combined $162 billion in market value.
The Dow ended Tuesday up 321 points, or 1.2%, after dropping 760 points, or 2.9%, in a single day on Monday. Tech companies continue to face the looming threat of the US trade war with China. Among them, Apple stands to be hit the hardest, given that it has greater exposure to the Chinese market. The company relies on China's manufacturing plants for many of its flagship products, such as the iPhone.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Big Tech lost $162 billion in value in Monday's market route, led by plunge in AppleIn the stock market's worst day of 2019, the biggest tech companies got hammered, losing more than $160 billion in combined market cap. Will come back always does *rout Thank you Mr POTUS realDonaldTrump
Source: CNBC - 🏆 12. / 72 Read more »
Big Tech lost $162 billion in value in Monday's market rout, led by plunge in AppleIn the stock market's worst day of 2019, the biggest tech companies got hammered, losing more than $160 billion in combined market cap. Thanks Kernen and Don the Con That makes the tariffs look like a pittance Yea that’s not really surprising that Apple would be hit hardest (and really they deserve it). The whole company depends on China and it being cheep. They have the ability to make their products in America but they choose not to.
Source: CNBC - 🏆 12. / 72 Read more »
KLA Corp. stock slips after earnings beat amid tech selloffKLA Corp. shares slipped in the extended session Monday after the semiconductor-equipment maker topped Wall Street earnings estimates for the quarter amid a...
Source: MarketWatch - 🏆 3. / 97 Read more »