Technological stocks eliminate the last of the profits after the choice such as Nasdaq Plummets

Too too for Trump’s blow.

After submerging 2.6% on Thursday, Nasdaq has annihilated all its profits after the election and is on its way to its worst week since September, since investors are concerned dutyweaker than expected Employment numbers and a possible cooling in the artificial intelligence market.

The mass sale marks a great reversal for technology, especially after the senior executives of the industry did everything possible to show their support for Donald Trump After his electoral victory in November, travel to see him in his Mar-A-Lago resort in Florida and publicly announce his Contributions to its inauguration. Many of the most important names in the industry, including Apple Tim cook, Goal Mark Zuckerberg, Amazon Founder Jeff Bezos and Alphabet The Pichai CEO attended the inauguration in Washington, DC, in January.

These companies contributed to the technological demonstration in the last two years. Nasdaq increased 43% in 2023 and 29% last year, promoted by profits in NVIDIA, goal and other companies that are seen as main beneficiaries of the AI ​​boom.

Aaron Dunn, Morgan Stanley Investment Management’s value capital co-establishment, said Thursday “The Exchange” of CNBC that the uncertainty surrounding Trump’s economic policies, along with an extensive change of risk, is in the heart of the move.

“We really want to focus on companies that we would call companies for all climate in the market,” said Dunn. He added that the market is seeing the unemployment of high -risk trade, with a rotation in companies that can handle “whatever the volatility of the administration, it will be daily.”

Investors are particularly concerned with the increase in the costs of goods for companies that will probably result from tariffs, and the highest consumption prices that will follow, as well as retaliation rates that exports will make it difficult.

At midnight on Tuesday, 25% rates In imports of the two main commercial partners of the United States, Canada and MexicoIt entered into force, like an additional 10% rate on Chinese imports. Tariffs on Canadian energy, at a 10%rate, also began midnight on Tuesday. Although Trump subsequently issued exemptions from temporary rates for a wide range of goods from Canada and Mexico, the market continued its sliding down.

Among Tech Megacap companies, this year’s worst performance is Teslathat has dropped 35% after falling almost 6% on Thursday. The slide of the car manufacturer is particularly remarkable considering CEO Elon Musk’s Central position in the second Trump administration.

February, Musk’s first full month in the White House, marked The worst month of Tesla in the stock market since 2022. The action is quoted at its lowest point from the day of the elections, on November 5, and is 45% below its record reached in December.

Nvidia It has slipped 18% this year, including a decrease of more than 11% this week, and is quoted at its lowest point since September. The chips manufacturer, which has promoted much of the AI ​​market with its graphics processing units, has the main commercial partners worldwide.

The company’s processors are mainly manufactured in Taiwan, but some of their sophisticated systems and complete computers surrounding the chips are manufactured in other regions, including Mexico and the United States.

“Tariffs at this time, it is unknown until we understand more the plan of the United States government,” said Nvidia Chief of Finance, Colette Kress. Profit call End of last month.

Chips manufacturer Broadcomthat more than duplicate in value last year due to the very high demand of its artificial intelligence systems, it has fallen by 22% this year. Broadcom’s actions joined in extended operations on Thursday after profits.

Marvel technology He led the fall on Thursday in chips manufacturers, falling 20% ​​after the orientation did not reach some high purchase estimates. The action has now dropped 35% for the year.

In addition to tariffs and trade, Wall Street is concerned about work. The employment creation of the private sector slowed down in February, feeding the concerns of an economic slowdown, the ADP payroll processing firm reported Wednesday. Companies added only 77,000 new workers for the month, below the consensus estimate of 148,000 Dow Jones, according to seasonally adjusted figures of ADP.

Without a great concentration on Friday, the Nasdaq will end up lower for its third consecutive week and fifth week in the last six.

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