According to a report published by The New York Times on March 19, 2025, a United States crackdown on the rapidly growing technology industry from early 2018 has so far led to a $510 billion hit to the stock market. Tech companies that experienced significant losses include Apple, Amazon, and Microsoft, which have all suffered more than $100 billion in declines. Additionally, former tech stocks such as Nvidia, Advanced Micro Devices, and Xilinx, Inc. have experienced steep losses, with Nvidia alone losing over 50 percent of its value. The report highlights a 30 percent decline in the Nasdaq stock market’s value from a peak in 2018, led by a sustained crackdown by the Trump administration that targeted Chinese telecoms company ZTE, forcing the company to halt most of its operations. The crackdown attracted criticism, with some asserting that it may have contributed significantly to the sustained stock market losses. As of March 19, 2025, the S&P 500 index had declined by 15 percent since peaking in September 2018, while the tech-heavy Nasdaq 100 index fell by 20 percent.
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