Apple has its biggest stock drop in five years because of Trump’s tariffs

is a deputy editor with 18 years of experience writing and editing product reviews, gadgets and business news. Previously, he was a deputy editor covering technology companies at CNBC. Shares of Apple, Amazon, and other tech stocks are getting walloped on Thursday as the markets digest the impact of President Donald Trump’s new round of tariffs announced on Wednesday evening. Shares of Apple were down about 9 percent on Thursday morning, which would mark the biggest drop in about five years if it holds until the close, according to CNBC. Amazon shares dropped about 7 percent. Both companies rely heavily on imports from other countries, like China, on which Trump plans to impose a 54 percent tariff beginning April 9th. Apple also manufactures some products in countries like Vietnam, on which a 46 percent tariff was announced. The tariffs, if they aren’t walked back, could mean increased prices on electronics for consumers or slimmer margins for companies like Apple and Amazon if the ... Read full article.