- Shares of the biggest tech stocks fell on Friday.
- This follows the broader stock market's dip after President Donald Trump's announcement that he would impose tariffs on aluminum and steel.
ADVERTISEMENT
FAANG stocks are under pressure (FB, AAPL, AMZN, NFLX, GOOGL)
Shares of Facebook, Apple, Amazon, Netflix and Google were down on Friday morning.
ADVERTISEMENT
The so-called FAANG stocks — Facebook, Apple, Amazon, Netflix and Alphabet's Google — were all in the red on Friday morning.
The stock market opened on shaky footing, a day after an announcement by President Donald Trump that the US would impose tariffs on steel and aluminum next week sent shares in the major indices tumbling.
Here's how the individual FAANG stocks were doing this morning:
ADVERTISEMENT
- Apple
- Amazon
- Netflix
- Alphabet
Trump's move has raised the spectre of a trade war and shook domestic companies that relied on steel and aluminum such as automakers, manufacturers, and beer producers, which were hit hard on the news.
The FAANG stocks could not escape the selloff in the broader market Thursday, seeing $56.41 billion wiped away from their market caps.
FOLLOW BUSINESS INSIDER AFRICA
ADVERTISEMENT
Recommended articles
Congo is spending 22% of its scarce revenue on security - Minister
Another African country is set to get a Russian embassy
Medic West Africa 2024: A resounding success in fostering collaboration and innovation for a brighter healthcare future
10 African countries with the most troubling external debt in 2024
10 African countries with the least soft power influence over the world
Kenyan government rejects calls to ban TikTok, recommends tighter control over
Congo accuses Apple of conflict minerals in its supply chain
Top 10 African countries with the highest fuel prices in April 2024