Tech companies lost 770 billion overnight due to Trump’s statement

Major tech companies lost $ 770 billion in market capitalization on Friday, October 10, 2025, following Donald Trump’s announcement of higher tariffs on Chinese goods and tighter export controls on critical software. Shares of Amazon, Nvidia, and Tesla fell by about 5% during the main trading and continued to fall after Trump’s post on social media.

The Nasdaq and S&P 500 indices fell by 3.6% and 2.7%, respectively, marking the worst day for both indices since April 2025, when Trump had already announced his intention to impose «reciprocal» tariffs on US trading partners. After the market closed, the president announced that the US would impose a 100% tariff on goods from China, and from November 1, it would begin to apply export restrictions on any critical software.

The sharp decline interrupted the positive growth of the tech sector, fueled by hundreds of billions of dollars allocated to the development of artificial intelligence infrastructure. Nvidia, which produces graphics processors for training AI models, became the world’s first company with a market capitalization of $ 4.5 trillion at the end of September, but on Friday its value fell by almost $ 229 billion.

Microsoft, which needs to buy equipment for its cloud data centers, lost $ 85 billion in market value on Friday. Amazon, which competes with Microsoft for providing GPUs through cloud data centers, lost $ 121 billion in capitalization, completely offsetting the company’s annual share price growth.

Tesla’s market value fell by $ 71 billion, shares of Alphabet, Google’s parent company, fell by 2%, and Meta’s securities fell by almost 4%. The massive sell-off in tech giants' stocks demonstrates the sector’s vulnerability to geopolitical tensions and trade wars between the US and China, especially given the global dependence on Chinese supply chains.