Vliv celních opatření prezidenta Trumpa na výnos akcií po jejich vyhlášení

This bachelor’s thesis examines the impact of U.S. tariff measures introduced under the „Liberation Day“ initiative on the stock price performance of five leading technology companies: Apple, Alphabet, Amazon, Meta, and Nvidia. The event study methodology was used to evaluate the short-term capital market reaction. Using the market model, normal returns were estimated for individual stocks relative to the S&P 500 index, followed by an analysis of abnormal and cumulative abnormal returns within a defined event window. The results show that the announcement of tariff measures was associated with a negative short-term reaction across the analysed sample, although the impact was not uniform among individual companies. Apple experienced the most pronounced negative reaction, while Nvidia was the only company to record a positive cumulative abnormal return. Meta, Alphabet, and Amazon showed negative values that may be linked to the indirect effects of trade tensions on consumer demand, corporate expenditure, and digital services. The thesis interprets the differences among companies with regard to their business models, exposure to supply chains, import costs, and market positions. The findings indicate that the reaction of large technology companies to a trade-policy shock was heterogeneous. The thesis also summarises the macroeconomic context of U.S. structural imbalances and analyses the broader causes of the U.S.–China trade confrontation.