Nasdaq Stumbles to Start the Week
The news of tariffs didn’t sit well with the Nasdaq as familiar names like Apple and Amazon helped to drag the index down. Overall, the tech sector took a 0.34% hit as shares of Apple fell by 1.4%
JD.com was the biggest decliner with a 6.5% drop, while another tech giant Netflix was also down by 2.7%. After posting strong gains during the month of August, the Nasdaq is struggling out the gates for September as the fear of tariffs begins to creep back into the markets.
“Investors are slowly starting to realize that these new tariffs could be extremely disruptive to the supply chain,” said Art Hogan, chief market strategist at B. Riley FBR in New York.
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