Tech stocks have worst day since Covid pandemic, led by plunge in Apple

CEO of Meta and Facebook Mark Zuckerberg, Lauren Sanchez, Amazon founder Jeff Bezos, Google CEO Sundar Pichai, and Tesla and SpaceX CEO Elon Musk attend the inauguration ceremony before Donald Trump is sworn in as the 47th U.S. president in the U.S. Capitol Rotunda in Washington, Jan. 20, 2025. Technology stocks plummeted Thursday for their worst session since the Covid pandemic after President Donald Trump's new tariff policies sparked widespread market panic. Apple led the declines among the so-called "Magnificent Seven" group, dropping more than 9% for its worst drop since 2020. The iPhone maker makes its devices in China and other Asian countries. Suppliers such as Qorvo and Skyworks Solutions plunged about 16% and 12%, respectively. The tech-heavy Nasdaq Composite shed about 6% for its worst session in more than five years. The index is down more than 14% year to date. Other megacaps also felt the pressure. Meta Platforms and Amazon fell about 9% each, while Nvidia dropped nea ... Read full article.