Donald Trump's announcement of sweeping "reciprocal" tariffs triggered a massive sell-off last week, according to Benzinga. Stock prices of the Magnificent 7 wiped out more than $1 trillion in market value. Dan Ives of Wedbush Securities warned the move could set the U.S. tech sector back by a decade while China gains an advantage. He described the cost structure as "untenable," adding that "investors know math and the sad reality." Rising trade tensions are dampening economic optimism. Comparisons to the 1930 Smoot- Hawley Tariff Act raise fears of a global economic fallout.
