Giant technology companies lose $770 billion in value as the Nasdaq index declines 3.6%

shares Amazon, Nvidia and Tesla Each fell nearly 5% on Friday, as the tech giants lost $770 billion in market value, after President Donald Trump’s threats Due to increased customs duties on Chinese goods.

With trillion-dollar technology companies occupying an increasingly large slice of the US market, their declines dragged the Nasdaq down 3.6% and the S&P 500 down 2.7%. For both indicators, this was the worst day since April, when Trump said he would be slapped “Mutual” duties. On US trading partners.

After the market closed on Friday, Trump announced in a social media post that the United States would impose a 100% tax on… Customs tariff on China On November 1, export controls will apply “to any and all critical software.”

Shares of Amazon, Nvidia, and Tesla fell about 2% in extended trading after the publication.

The president’s latest threats are disrupting, at least briefly, what has been a sustained tech rally, built on hundreds of billions of dollars in planned technology spending. artificial intelligence Infrastructure.

In late September, Nvidia, which makes graphics processing units for training AI models, became… The first company To reach a market value of $4.5 trillion. Nvidia alone saw its market value drop by about $229 billion on Friday.

OpenAI relies on Nvidia’s GPUs from a series of cloud vendors, including… Microsoft. OpenAI is only seeing increasing demand.

In September I submitted Sora 2 Video creation app, the company said this week that the ChatGPT assistant now boasts More than 800 million users weekly. But Microsoft must purchase the infrastructure to operate its cloud data centers. Microsoft’s market value fell by $85 billion on Friday.

The sale has ended Amazon Gains for this year. That stock is now down 2% so far in 2025. It competes with Microsoft to lease GPUs from its cloud data centers, but doesn’t have much business with OpenAI. The online retailer is now worth $121 billion less than it was on Thursday.

“There is still a lot of noise around the impact of tariffs on retail prices and consumption,” Amazon CEO Andy Jassy said. He told analysts In July. “Much of it so far has been wrong and misreported. As we said before, it is impossible to know what will happen,” he added.

Tesla, which provided Low price vehicles On Tuesday, it saw its market capitalization drop by $71 billion.

The automaker reports third-quarter results on October 22, and Microsoft is scheduled to report earnings the following week. Nvidia reports in November.

Google Parents alphabet And the owner of Facebook dead They fell by 2% and about 4%, respectively.

He watches: Wild. Trump: Accounting for the massive increase in tariffs on Chinese products to the United States