The world’s top tech billionaires saw their fortunes plummet on Monday as markets tumbled, with the Magnificent Seven tech giants shedding approximately $780 billion in market capitalization during a single trading session.
Why It Matters: Berkshire has been a net seller of stocks for nine straight quarters, citing high valuations. Buffett has also trimmed Berkshire's Apple stake and halted stock buybacks, further boosting cash reserves.
Investors worry about President Donald Trump‘s proposed tariff plans and recession fears. Goldman Sachs has warned that tariffs could reduce corporate earnings by 1-2% for every 5% increase, potentially triggering a 5% S&P 500 decline.
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