Tech megacaps lose $770 billion in value as Nasdaq suffers steepest drop since April

Core Points - Tech giants Amazon, Nvidia, and Tesla experienced a decline of approximately 5% in their stock prices, contributing to a total market cap loss of $770 billion for the sector due to President Trump's tariff threats on Chinese goods [1][2] - The Nasdaq and S&P 500 indexes fell by 3.6% and 2.7% respectively, marking the worst performance for both since April, when similar tariff threats were made [2] - Trump's announcement of a 100% tariff on China and export controls on critical software is disrupting a previously sustained rally in the tech sector, which was fueled by significant investments in artificial intelligence infrastructure [2][3] Company Impact - Amazon, Nvidia, and Tesla saw their stock prices drop about 2% in after-hours trading following Trump's social media post regarding tariffs [2] - The tech sector's recent rally, which was based on substantial planned spending in AI, is now facing uncertainty due to the potential for increased tariffs and export controls [3]