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Tech Stocks Sell Off Amid Tariff Backlash | Bloomberg Technology
Bloomberg’s Caroline Hyde discusses how investors are reacting to tariffs as the magnificent seven and other tech names drop. Mark Mahaney, Evercore ISI managing partner, explains the global impact tech firms could face in a trade war. And Sowmyanarayan Sampath, Verizon Consumer Group CEO, on how consumers could be hit by tariffs. (Source: Bloomberg)
THAT IS THINGS LIKE NETFLIX OR SPOTIFY, WHICH ARE INEXPENSIVE CONSUMERS DESCRIPTION BUSINESSES BUT AT THE OTHER END ARE THE MEGA CAP NAMES, AMAZON, GOOGLE, AND META, WHICH ARE TRADING OFF 4% TO 9%. NOT ONLY DID THE WHITE HOUSE PRESS SECRETARY AND ELON MUSK HIMSELF KNOCK THAT DOWN, BUT YOU HEARD EIGHT EVENTS TODAY COME OUT AND SAY THAT HE WILL CONTINUE TO KIND OF HAVE OUR EAR EVEN AFTER HE OFFICIALLY LEAVES, SO THIS NOTION THAT TESLA IS GOING TO MAKE A CLEAN BREAK FROM THE SITUATION WHERE THE CEO IS SO CLOSELY TIED TO THE TRUMP ADMINISTRATION SEEMS MISGUIDED. CAROLINE: MICROSOFTCAROLINE: HAS PULLED BACK ON DATACENTER PROJECTS AROUND THE WORLD, SUGGESTING THE COMPANY IS TAKING A HARDER LOOK AT HIS PLANS TO BUILD SERVER FARMS POWERING AI AND THE CLOUD.
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