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Tech Giants Lose $770B as Trump’s China Tariff Threat Roils Markets

Tech Giants Lose $770B as Trump’s China Tariff Threat Roils Markets

Author:

Global Cryptocurrency

Published:

2025-10-11 14:43:02

18

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BTCCSquare news:

Nasdaq plunged 3.6% in its worst session since April after former President TRUMP threatened 100% tariffs on Chinese imports effective November 1. The sweeping proposal triggered a $229 billion wipeout at Nvidia, $121 billion at Amazon, and $71 billion at Tesla as tech stocks bore the brunt of the selloff.

Beijing's new export controls on rare earth minerals precipitated the escalation, requiring foreign firms to obtain special approvals for shipments. The restrictions extend to mining and processing technologies, with dual-use military applications facing particular scrutiny. Trump countered by threatening export controls on American critical software, extending the selloff into after-hours trading.

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