Nasdaq Futures Leads Stock Investment, Dow Jones Index Falls 1,000 Points As Trump Punishes Tariffs in Markets
With the market sale late Wednesday, President Trump touted companies such as Apple (AAPL), NVIDIA (NVDA) and other guaranteed billions of dollars in domestic investment to expand its respective footprint in the United States.
“Apple will spend $500 billion. They have never spent that money here,” Trump said. The company invests in plans to operate in the U.S. over the next four years, including plans to build new manufacturing plants, double its advanced manufacturing fund and employ 20,000 people.
Apple’s (AAPL) stock is still down more than 7% in after-hours trading as it is exposed to countries with pre-tax tariffs.
Trump added that Apple’s investment will match Oracle (Orcl), Chatgpt Creator Openai and Japan’s SoftBank (9984.T), a tribute to the $500 billion “Stargate” AI Venture announced earlier this year.
At the time, Trump claimed that the joint venture would “create more than 100,000 U.S. jobs almost immediately.”
In addition, “Nvidia, a popular company, is investing hundreds of billions of dollars in the U.S. supply chain,” Trump said. and “TSMC is the largest and most important company in the world with Taiwan chips – without us investing, investing $200 billion.”
TSMC (TSM) announced last month that it plans to invest an additional $100 billion in the U.S. senior semiconductor manufacturer. This is complemented by its $65 billion investment in its manufacturing operations in Phoenix, Arizona.
“The reason they said was the first election, on November 5 and second, tariffs,” Trump said. “They don’t want to pay tariffs. The way they don’t pay is to build plants here.”
Similar to Apple and other big tech athletes, semiconductor stocks also fell 5% in after-hours trading, while Broadcom (AVGO) and Intel (INTC) fell 5% and 4% respectively.
