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The Nasdaq is down 0.94% lower at 7,935.15.
Of the FAANGs, Netflix is the biggest faller down 2.56%, followed by Amazon off 2.1%.
Apple's shares are 1.9% lower but reports are emerging that its watches will be spared from the latest round of US tariffs on $200bn worth of Chinese goods.
Facebook is off 0.75% and shares in Google's parent company Alphabet dipped 0.55%.
The Nasdaq has clawed back some ground but is still trading 0.80% lower at 7,945.29.
The so-called FAANGs - Facebook, Apple, Amazon, Netflix and Alphabet’s Google - are all trading lower on reports that US President Donald Trump is close to announce tariffs on an additional $200bn of Chinese goods.
Facebook's stock is down 1%, Apple is off 1.5%, Amazon is 1.9% lower, Netflix has dropped 2.6% and Alphabet has dipped 0.76%.
Speculation that US President Donald Trump will impose tariffs on an additional $200bn worth of Chinese goods is weighing on company stocks, in particular Apple and Amazon.
Apple's share price is down 1.5% while Amazon's stock is down 2.6%.
A list of the products that could face new tariffs - and which you can read here - include electronic parts and consumer goods like handbags.
The wider Nasdaq is down 1.09% at 7,922.38.
BBC Radio 5 live
Apple has unveiled its latest batch of products - which includes the largest iPhone screen it's ever made as well as the new Apple Watch.
But it's not the features that grabbed attention last night.
"The biggest buzz I'm seeing is definitely on prices," said Melissa Jun Rowley, co-founder of Resolve, which helps tech startups to grow.
The XS Max will become the most expensive handset Apple has sold to date, with its price ranging from £1,099 to £1,449 depending on its amount of storage.
Ms Rowley says that many customers are struggling to see the differences between last year's phones and this year's.
Apple has updated its smartwatch, promising more sophisticated heart-monitoring capabilities.
Do the new iPhones represent much of an upgrade over last year's flagship handset?