Bloomberg Tech Tech Stocks Sell Off Amid Tariff Backlash
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Apr 3, 2025 
Mark Mahaney, Senior Managing Director at Evercore ISI, delves into the fallout from rising tech tariffs and their global implications. He highlights the plummeting stocks of leading tech firms, including the 'magnificent seven,' and the challenges posed to supply chains. The discussion also touches on how tariffs could affect consumer spending and the automotive sector, particularly concerning electric vehicles. Meanwhile, Verizon's CEO, Sowmyanarayan Sampath, weighs in on the potential consumer impact amidst these economic shifts.
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Tech Sell-Off Due to Tariffs
- Tech stocks, especially the Magnificent Seven, plummeted due to tariff concerns.
- This sell-off is the worst the Nasdaq 100 has seen since 2022.
Apple's Diversification Backfires
- Apple's diversification efforts away from China have backfired amidst new tariffs.
- These tariffs target countries where Apple shifted production, like Vietnam and Thailand.
EU Retaliation Targeting US Tech
- France and Germany are urging a strong EU response to US tariffs, targeting US tech companies.
- They propose leveraging digital services taxes as a retaliatory measure.