Apple lost more than $300bn in market value on Thursday, making it one of Wall Street’s biggest casualties of Donald Trump’s tariff blitz despite chief executive Tim Cook’s efforts to court the administration.
Shares in the iPhone maker were down more than 9 per cent as trading closed in New York on Thursday. That cut its market capitalisation to $3.05tn from $3.36tn in its biggest one-day valuation wipeout on record.
Trump hit all of Apple’s biggest supplier and manufacturing hubs in Asia, including China, Taiwan, India and Vietnam, with huge new tariffs on goods imported to the US.
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