Black Friday: Do Trump or High Valuations Drag Down the Market?
@Tiger_comments:
$NASDAQ(.IXIC)$ fell 2.7%, and $S&P 500(.SPX)$ dropped nearly 2%. The combined market value of the seven major tech stocks evaporated by about $505 billion. $Alphabet(GOOG)$ closed down 4.88%, Meta and Amazon dropped 4.29%, Tesla fell 3.51%, Microsoft dropped 3.02%, Apple decreased by 2.66%, and Nvidia declined by 1.58%.Initially, reports suggested that tariffs set to be implemented on April 2 might be more targeted than initially proposed, leading to a brief rebound in the S&P 500. However, further news indicated that automakers may still face higher import taxes, and the market turned back down again. This back-and-forth messaging heightened investor a