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Spotify Shares Fall 10%, Wiping Out $12B of Market Value, as Music Stocks Plunge on Tariff Concerns
Spotify's stock fell 10% as music stocks plunged overall following President Donald Trump's new round of tariffs. Get the full details here.
Music stocks were battered this week after President Donald Trump unveiled the tariffs that will be applied to imported goods from around the world. But Spotify shares fell 9.9% on Friday (April 4), paring down the once high-flying stock’s year-to-date gain to 7.9%. Like Spotify, Tencent Music Entertainment bucked the downward trend on Thursday by suffering only a minor loss, but declined 9.5% on Friday, dropping 9.9% to $12.95.
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