Apple lost a whopping $300 billion in market value in intraday trading Thursday as fears that President Trump’s reciprocal tariffs will hammer supply chains sparked a market bloodbath. The iPhone maker’s shares plunged by nearly 9% as Trump unveiled the heavier-than-expected levies on international trade partners.

Trump’s sweeping tariffs have sent tech stocks tumbling. On Wednesday, the U.S. president announced blanket 10% tariffs on all countries, sparking fears of supply chain chaos and concerns about the U.