U.S. technology stocks tumbled in pre-market trading Monday after President Donald Trump imposed substantial tariffs on imports from Canada, China, and Mexico, raising concerns about potential retaliation affecting the tech sector.
What Happened: NVIDIA Corp. NVDA fell 3.91% to $115.38 in pre-market trading, while Microsoft Corp. MSFT dropped 1.46% to $409.01. Apple Inc. AAPL declined 2.01% to $231.25, Meta Platforms Inc. META slipped 1.66% to $677.76, and Intel Corporation INTC decreased 2.11% to $19.02.
Semiconductor stocks have been particularly hard hit. Super Micro Computer Inc. SMCI dropped 2.95%, while Broadcom Inc. AVGO fell 2.62%, and Taiwan Semiconductor Manufacturing Company Limited TSM declined 3.26%.
The sell-off comes in response to Trump’s Saturday announcement of 25% tariffs on imports from Mexico and Canada, along with a 10% tariff on Chinese goods, all effective Tuesday. The U.S. Chamber of Commerce warned these measures could significantly disrupt supply chains and increase costs for American businesses and consumers.
Why It Matters: The new tariffs compound existing pressures on the tech sector, which was already grappling with last week’s semiconductor sell-off triggered by concerns over Chinese AI competition. That earlier decline had seen NVIDIA lose $600 billion in market value in a single trading session.
Bitcoin BTC/USD also reflected the broader market uncertainty, falling 2.55% to $95,189.83 in the last 24 hours, as investors assessed the potential impact of escalating trade tensions on global markets.
The tariffs could particularly affect companies with significant manufacturing operations in Mexico and China, with economists warning about potential retaliatory measures from these trading partners. Professor Sung Won Sohn of Loyola Marymount University noted, “Consumers are going to be clearly worse off.”
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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