Nvidia (NASDAQ:NVDA) is leading the pack in premarket trading on Tuesday, jumping 2.9%. U.S. equity futures are bouncing back after a rough session, fueled by concerns over a possible recession because of President Trump’s trade war.
Other tech giants are also seeing some notable gains. Amazon (NASDAQ:AMZN) is up 2.6%, Meta (NASDAQ:META) is up 2.1%, and Tesla (NASDAQ:TSLA) has climbed 1.7%. Alphabet (NASDAQ:GOOG) and Apple (NASDAQ:AAPL) aren’t too far behind, rising 1.6% and 1.2%, respectively.
But it’s not all smooth sailing for Apple (NASDAQ:AAPL). The company has faced a tough few days, with its stock dropping 19% over the past three trading sessions,its biggest three-day fall since 2001.
The Magnificent Seven Index, which tracks these major players, has fallen 24% this year, after a huge 67% surge in 2024. It’s a reminder of how quickly things can change in the tech world.
This article first appeared on GuruFocus.
