Tech Stocks Lose $1T, Oil Spikes as Global Markets Brace for Fed – Aug 20–21, 2025 Roundup
U.S. tech stocks lost about $1 trillion in market value as the Nasdaq fell 0.7% on August 20, led by declines in Apple and Amazon. The selloff followed profit-taking after AI-driven gains and new concerns over government intervention, with the Trump administration confirming plans for a 10% federal stake in Intel. Chip and tech shares dropped further as investors feared broader state involvement.