Apple and Nvidia shares fell after Trump announced tariffs of 32% on Taiwan and 34% on China, hurting tech companies

Apple shares fell 5% and Nvidia shares fell 3% following Donald Trump's announcement of significant tariffs on Taiwan and China. These companies, along with others in the tech sector, depend heavily on the Taiwan Semiconductor Manufacturing Company, which produces advanced semiconductors. Apple, which sells about 50 million iPhones in the US annually, manufactures most of its products in China, magnifying the impact of these tariffs.