Tech stocks lose $2.7 trillion amid tariff turmoil

The tech sector has experienced a staggering loss of $2.7 trillion in major stocks over the past three weeks, marking a significant downturn in the market. This nearly month-long sell-off has driven the Nasdaq to its lowest point since September.

The decline has been largely attributed to President Trump’s tariff policies, particularly those imposed on Canada and Mexico, which caught many traders by surprise. The White House has indicated that these measures are part of a broader strategy.

U.S. Treasury Secretary Bessent said, “What we’re trying to do is create economic security. We’re going to do it with the tax plan. We’re going to do it with deregulation, and I also said to the business roundtable. If you came out with a plan similar to what DOGE wants to do with the federal government, all your stocks would go up 15 or 20 percent.”

Despite the current downturn, there has been a slight recovery in stock values as of today. However, the anticipated tax cut, if extended by Congress, is not expected to take effect for several months.