Last week, Donald Trump announced “reciprocal” tariffs that have caused significant turbulence in global markets, with the stock prices of major U.S. tech companies, known as the “Magnificent 7,” plummeting and wiping out nearly $1.8 trillion in market value.
What Happened: On Sunday, Dan Ives, an analyst from Wedbush Securities, warned that Trump’s tariffs could severely hinder the U.S. tech sector’s growth.
Ives underscored the long-term impact of the trade policies, stating, “Investors know math and the sad reality” — suggesting the U.S. tech industry could be set back by a decade if these tariffs remain in place.