Bay Area tech stocks hammered as U.S.-China trade war escalates

//Bay Area tech stocks hammered as U.S.-China trade war escalates

Bay Area tech stocks hammered as U.S.-China trade war escalates

Shares of virtually every major Bay Area tech company fell today, after China promised to raise tariffs on $60 billion worth of American imports — the latest move in President Trump’s escalating trade war, which threatens to cut into corporate profit margins and raise consumer prices. Cupertino-based Apple Inc. tumbled 5.8 percent to close at $185.72. The iPhone maker's shares were hammered on two sides today: On one side was Trump’s trade war, which raised tariffs Friday on some $200 billion…

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By | 2019-05-13T21:17:47+00:00 May 13th, 2019|Economics|

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