US tech, retail stocks lead rout after tariff shock

Major US retailers including Walmart, Amazon and Target, which count on several Asian countries including China as key suppliers and could be forced to raise prices, slumped between 4% and 6% in pre-market trading. Apple shares fell 6.1%. More than 90% of its manufacturing is based in China, one of the hardest hit countries by the tariffs, according to an estimate from Citi.