Semiconductor names with heavy China exposure also faced intense selling. Marvell Technology dropped 12%, Intel slid 10%, and Broadcom shed over 7%.

Server and PC makers bore additional pain: Dell Technologies sank 22.3%, HP fell 19.1%, and Super Micro Computer lost 14.4%. Hewlett Packard Enterprise was down 21.8%. Wedbush estimates a 15% hit to overall tech earnings if tariffs remain in place, likening the potential disruption to the early pandemic period.

Losses spread well beyond tech. The energy sector dropped 7.1% as oil prices plunged, dragging Shell down 8%. Industrials were hit hard, with Boeing falling 9% and GE Aerospace over 8%.

In financials, major banks including Goldman Sachs, Citigroup, and JPMorgan lost 7-8%, as recession fears climbed. Agriculture-linked names like Deere and Caterpillar declined over 5%, while materials, real estate, and consumer discretionary stocks also saw heavy selling.