Big tech stocks fell sharply due to Trump tariff concerns
Despite some resolution of tariff risks, USTEC failed to recover from the loss. In particular, big tech stocks with high overseas exposure fell sharply. Tesla (TSLA) fell 5.19% over concerns that Trump's tariff policy could harm the company, given that 15% of Model Y parts are sourced from Mexico and Canada. Apple (AAPL) also dropped 3.39% due to concerns that new tariffs on China might ultimately raise iPhone prices.
USTEC briefly tested the ascending trendline and the support at 19140. The index has since rebounded slightly, awaiting additional price triggers for an apparent trend reversal. If USTEC breaks below 19140, the index may fall further to the next support at 18670. Conversely, if USTEC breaches above both EMAs, the index could gain upward momentum toward the 20200 highs.
