Tech Stocks Crash: Tariff Fears Wipe Out Nearly $1 Trillion on Wall Street

Wall Street faced a major sell-off as major U.S. stock indices opened sharply lower on Thursday, April 3, 2025. The downturn was triggered by President Donald Trump's announcement of sweeping tariffs, sparking fears of a potential trade war and global economic recession. The S&P 500 fell by 4.84%, the Dow Jones Industrial Average by 3.98%, and the Nasdaq Composite by 5.97%. Major technology companies experienced significant losses in market capitalization. Apple's shares plummeted by 9.25%, resulting in a $311 billion loss, while Amazon fell 8.98%, losing $186.54 billion. Meta decreased by 8.96%, a $132.57 billion loss. Nvidia fell 7.81% ($210.43 billion), Microsoft dropped 2.36% ($67.05 billion), and Alphabet fell 4.02% ($75.39 billion). Tesla declined 5.47%, losing $49.75 billion. The technology-heavy Nasdaq Composite experienced its worst daily fall since March 2020. The S&P 500 and Dow Jones Industrial Average posted their biggest daily percentage declines since June 2020. The announcement of tariffs led investors to seek safer assets, such as government bonds, contributing to the overall market decline.