Tesla Falls 8%, Apple Drops 5%... Major U.S. Tech Stocks Plummet Across the Board

# Major Tech Stocks Plummet Amid Recession Fears San Francisco—As concerns over a U.S. economic recession grow, major technology stocks with high market capitalization tumbled sharply on the New York Stock Exchange on the 10th (local time). As of 11:37 a.m. Eastern Time (8:37 a.m. Pacific Time), Apple, the stock with the highest market cap, was trading at $226.98, down 5.06% from the previous trading day. The stock plunged to $225.29 at one point during the day, marking its lowest level since January 27, when it hit an intraday low of $223.98. Consequently, Apple's market cap, which once approached $4 trillion, shrank to $3.409 trillion. At the same time, electric vehicle maker Tesla's stock was trading at $241.66, an 8% drop from the previous trading day. In intraday trading, Tesla's stock plummeted below the closing price of $251.44 on November 5, the day of last year's U.S. presidential election, and is now nearly half of its record high of $479.86 on December 17 last year. Tesla's stock has declined over 10% last week alone, continuing its downturn after suffering its longest weekly decline since its June 2010 IPO. Facebook's parent company, Meta Platforms (Meta), slipped 4.45%, falling below the $600 mark. Other AI-related tech giants such as Nvidia (-3.63%), Alphabet (-3.97%), Microsoft (-3.08%), and Amazon (-2.04%) also saw share prices drop by around 3%. The sell-off in major technology stocks is interpreted as a direct impact of recession fears on the U.S. economy, which has been the driving force behind the U.S. stock market. Stocks that had surged over the past two years amid an AI boom are now facing a sell-off due to recession concerns fueled by President Donald Trump's tariff war. The tariff war has led to rising prices, slower interest rate cuts, and recession fears, all exacerbated by President Trump's remarks. In an interview with Fox News released the previous day, President Trump addressed the possibility of a recession this year, stating, "There are transition periods in these kinds of things." He added, "What we're doing is bringing wealth back to America, and it takes a bit of time to see the results." He did not rule out the possibility of a short-term recession in achieving long-term policy goals.