Tech Stocks Tumble Amid Trump Tariff Turmoil

A sweeping tariff announcement by President Trump on Thursday led to a sharp decline in technology stocks on Wall Street, inciting fears of a global trade war and economic recession. This shift has dented recent investment highs, intensifying investor anxiety and prompting demands for interest rate cuts.

On Thursday, President Donald Trump's announcement of broad tariffs sent shockwaves through Wall Street, leading technology stocks to a significant downturn. The tariffs came as a surprise to many and ignited fears of a global trade war, with potential consequences being an economic recession.

The previously booming tech sector saw substantial losses, with major companies like Apple, Nvidia, and Amazon suffering steep declines. Market analyst Sam Stovall emphasized the inflationary impacts expected from these tariffs, foreseeing retaliatory measures from countries like China and the EU.

Following the tariffs announcement, expectations rose for the U.S. Federal Reserve to cut interest rates. The landscape promises more volatility ahead as stakeholders await Friday's economic data release and the upcoming speech by Fed Chair Jerome Powell, both expected to provide insights into the U.S. economy's trajectory.

(With inputs from agencies.)