Despite U.S. President Donald Trump's latest tariff announcement exempting semiconductors, shares for these companies continue to skydive, as the Nasdaq Composite Index (COMP:IND) has dropped more than 20% since December, officially entering bear territory, and leaving investors wondering where the bottom is.

Four of the 10 worst performers on a year-to-date basis in the tech-heavy Nasdaq are semiconductor companies. Marvell Technology (NASDAQ:MRVL) is plunging 12% today and is down 50% year to date. ON Semiconductor (NASDAQ:ON) is down 4.5% today and 44% YTD. Broadcom (NASDAQ:AVGO) has fallen 7% today and 38% YTD. Microchip Technology has cascaded 6% today and 34% YTD.

The Philadelphia Semiconductor Index (SOX) sunk 7% by late morning trading. It is at its lowest point since November 2023.

Artificial intelligence chip titan Nvidia (NASDAQ:NVDA) was down another 6%. Since January, the seemingly untouchable GPU producer has nearly wiped out a year's worth of share value gains, and is trading at its lowest since May 2024.

Micron Technology (NASDAQ:MU), which was relatively stable during most of the negative moves in this sector over the past two months, was down 9%. It is now down 20% YTD. Super Micro Computer (NASDAQ:SMCI) had declined 7%. Taiwan Semiconductor Manufacturing (TSM) was down 5%, and has fallen more than 25% YTD. 

It was reported today that China has responded to Trump's "Liberation Day" tariffs with its own 34% tariffs on all US imports starting on April 10. The 34% levy imposed by China matches the "reciprocal" tariff announced by Trump on Wednesday, which itself added to the existing tariffs on the country. Once the latest U.S. tariffs come into effect on April 9, Chinese goods will face a 54% tax rate.

However, Trump posted on Truth Social, a social media platform owned by Trump Media and Technology Group (DJT), late this morning that his tariff platform has prompted Vietnam to possibly remove tariffs on U.S. goods.  

"Just had a very productive call with To Lam, General Secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the U.S.," Trump posted. "I thanked him on behalf of our Country, and said I look forward to a meeting in the near future."

Vietnam was hit with a staggering 46% tariff during Trump's Liberation Day announcement.

Apple (NASDAQ:AAPL), which had slipped 4%, produces about 20% of its iPads in Vietnam and assembles much of its wearable products, such as the Apple Watch, there as well, according to Evercore ISI.

And in Indonesia, which received a 32% tariff, Apple recently invested $300M, in order to start selling iPhones there later this month.

India received a 26% tariff. Apple has about 15% of it global iPhone production based in the subcontinent. It is expected to increase to about 25% by the end of the year.