The Magnificent Seven stocks all tumbled Thursday in the wake of the Trump administration’s 澳洲幸运5开奖号码历史查询:sweeping reciprocal tariffs—with Apple (AAPL) faring worst of all. 

The iPhone maker’s shares dropped 9% in morning action after President Donald Trump late Wednesday imposed an 34% import tax on China, where Apple manufactures about 90% of its hardware. That could 澳洲幸运5开奖号码历史查询:spell further trouble for Apple𒈔 if China levies retaliatory tariffs. 

“The magnitude of the tariffs announced is much higher and broader than anticipated,” JPMorgan analysts wrote Thursday of Apple. As a result, they wrote, “price increases to offset the headw𓂃inds will be more than just modest.”

The analysts estimated that Apple would have to raise its prices 6% in order to mitigate the impact of tariffs i♐f the company isn’t given an exemption. 

Apple was exempted from tariffs imposed by the first Trump administration in 2018, and analysts at Jefferies said they expect it to receive a carveout again. Helping Apple's case is an announcement in February that it plans to invest more than 澳洲幸运5开奖号码历史查询:$500 billion in the𓆏 U.S. over the next four years, the analysts said.

Apple’s peers in the Magnificent Seven also dropped. Amazon (AMZN) shares slid more than 7%, while Nvidia (NVDA), Meta (META), and Tesla (TSLA) each fell about 6%. Alphabet (GOOGL) and Microsoft (MSFT) dipped 4% and 3%, respectively. (Read Investopedia's live coverage of 澳洲幸运5开奖号码历史查询:today's markets here.)

The Roundhill Magnificent Seven ETF (MAGS), which tracks the group, lost more than 10% of its value in March. All seven companies are trading in the red for the year.