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The Guardian - UK
The Guardian - UK
Technology
Dan Milmo Global technology editor

Job cuts and falling shares: how did it all go so wrong for the US tech sector?

ING Tesla Inc. Elon Musk United States Twitter Inc. Amazon James Knightley Apple Marc Benioff Mark Zuckerberg
Elon Musk
Elon Musk’s controversial stewardship of Twitter has arguably hit his other interests including Tesla. Photograph: Mike Blake/Reuters

Amazon announced 18,000 job cuts, Apple’s share price fell below $2tn (£1.7tn) and there was more bad news from Tesla: it has been another tough week for big US tech firms.

But this has not been a one-off. The ongoing drama at Twitter since its takeover by Elon Musk in October has taken place against a backdrop of global economic uncertainty, retrenchment from aggressive expansion plans and China’s disruptive transition from Covid lockdowns to rocketing case numbers as restrictions ease.

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