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Trade Tensions Weigh on Tech Stocks as Tariffs Loom

Kinsey Grant

While the broader market looks to have been invigorated by an Independence Day break, one sector sure hasn't been popping off like fireworks. Technology stocks continue to slump moving into Thursday, July 5, as trade tensions hamper momentum in U.S. and Chinese markets. The Trump administration is set to impose about $34 billion worth of tariffs on Friday, July 6, and China Commerce Ministry Spokesman Gao Feng told reporters Thursday that roughly 60% of the goods set to be affected were made by non-Chinese companies.