Nasdaq drops 4%, a day after biggest rally since dot-com crash

Technology stocks plummeted Thursday and the Nasdaq Composite dropped 4% on the heels of its record-setting day ever jump Wednesday. Stocks posted a monster rally Wednesday after President Donald Trump announced a 90-day pause on some tariffs and dropped the tariff on most countries to 10% to allow negotiations. However, the White House confirmed Thursday to CNBC that the cumulative tariff rate on China would total 145%. Markets reversed course Thursday. Apple declined 4%, giving back some of its 15% Wednesday gain that pushed the iPhone maker to its best day since January 1998. Tesla dropped and Meta Platforms dropped 6%, while Amazon and Nvidia declined at least 5% each. Microsoft and Alphabet and were last down at least 3% each. ... Read full article.