Shares in top US companies including Apple, Amazon and Tesla tumbled in after-hours trading on Wednesday as Donald Trump’s sweeping tariff regime threatened widespread upheaval to global supply chains.
Technology companies were among the hardest hit in initial market reaction, with contracts tracking the Nasdaq down 4 per cent. Apple, which is heavily exposed to additional tariffs on China, saw its shares plummet 7 per cent, with Amazon down about 6 per cent.
The escalation of Trump’s global trade war poses a significant risk to tech supply chains, after top executives spent months courting the president in an effort to soften or gain exemptions from policies that could hit their bottom line.
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