Tech and Media Stocks Hammered Amid Global Instability and Ratcheting Tariff Fights
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variety.comCynthia Littleton Business Editor U.S. equities markets took a beating Monday as global investors reacted to signs of slowing demand and the instability driven by the nation’s ratcheting tariff wars with Canada, China and other key trade partners.
Tech’s “Magnificent Seven” stocks — Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla — all took a drubbbing, led by Tesla with a 15.4% plunge.
None of the major media giants were immune to the downdraft, led by Warner Bros. Discovery with a 4% slide for the day to close at $10.59.
Netflix fell 2.7% to $866.68. Disney slid 2.4% to finish out at $103.08. Comcast dropped 4% to $36.11. Fox Corp. lost 3% to close at $50.
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