- Apple (NASDAQ:AAPL) was today's biggest Dow decliner, plunging 4.6% in reaction to China's announced retaliatory tariffs on another $75B of U.S. goods, called "a gut punch to Cupertino" by one analyst.
- China is both a major part of AAPL's supply chain and a major market for its products; the company derived nearly 20% of its 2018 revenue from China, according to Bloomberg data.
- Information technology was one of the session's two biggest losers among the 11 S&P industry sectors, falling 3.3%, and the Philadelphia Semiconductor Index plunged 4.4%.
- Among notable decliners: AMD -7.4%, AVGO -5.4%, NVDA -5.3%, ON -4.9%, QCOM -4.7%, MU -4%, INTC -3.9%.
- ETFs: XLK, VGT, SOXL, SOXX, SMH, TECL, FTEC, USD, IYW, PSI, ROM, XSD, QTEC, IGV, RYT, SOXS, FNG, TECS
Apple, chip stocks take a beating after China tariffs, Trump tough talk
Apple Inc. (AAPL) Stock, AMD Stock, AVGO Stock, NVDA Stock, ON Stock, QCOM Stock, MU Stock, INTC Stock, XLK, VGT, SOXL, SOXX, SMH, TECL, FTEC, USD, IYW, PSI, ROM, XSD, QTEC, IGV, RSPT, SOXS, FNG, TECSCarl Surran, 297 Comments