Apple leads drop in tech stocks after Trump tariff announcement

Group 1: Market Reaction to Tariffs - Apple experienced a nearly 6% decline in late trading, leading a broader drop in tech stocks following the announcement of new tariffs by President Trump [1][2] - Nvidia and Tesla also saw declines of approximately 4% and 4.5% respectively, while other major tech companies like Alphabet, Amazon, and Meta fell between 2.5% and 5% [2] - An ETF tracking the S&P 500 dropped by 2.8%, and an ETF following the Nasdaq 100 lost over 3% in response to the tariff announcements [4] Group 2: Tariff Details - President Trump announced a 10% blanket tariff on all imports, with specific tariffs of 34% on China, 20% on European nations, and 24% on Japanese imports [3] - The tariffs are positioned as a "declaration of economic independence" aimed at boosting domestic production and reducing foreign trade barriers [3][4] Group 3: Corporate Investments - Trump highlighted that Apple plans to invest $500 billion in the U.S., indicating a significant commitment to building plants domestically [5] - The tech sector, particularly companies like Apple, Meta, and Nvidia, received praise from Trump for their investments in the United States [5]