The Nasdaq Marketsite in New York, June 9, 2023.
Michael Nagle | Bloomberg | Getty Images
The leaders and financiers of Silicon Valley opened their portfolios publicly in support of the presidential race of President Donald Trump in 2024. The first yields in 2025 are not excellent, to say the least.
After announcing Trump’s pricing plan on Wednesday, the Nasdaq suffered strong consecutive daily drops to finish 10% lower for the week, the worst index performance since the start of the pandemic cocted in 2020.
The main CEOs of the technological industry rushed to contribute to the inauguration of Trump in January and paraded in Washington, DC, for the event. Since then, it’s a Slog.
The market can always turn around, but economists and investors are not optimistic, and concerns are a potential recession. The seven most precious American technological companies lost $ 1.8 billion of market capitalization in two days.
Apple Slipped 14% for the week, its greatest drop in more than five years. TeslaLed by the best Trump advisor, Elon Musk, plunged 9.2% and is now down more than 40% for the year. Musk has contributed nearly $ 300 million to help bring Trump back to the White House.
Nvidia,, Meta And Amazon All have suffered two -digit drops for the week. For Amazon, a ninth consecutive weekly decline marks its longest sequence of losses since 2008.
While Wall Street sells risky assets on the concern that widespread pricing increases will punish the American and global economy, the benefits have changed on the stock market IPO. The online lender Klarna and the Stobhub ticket office delayed their IPOs due to the turbulence of the market, just a few weeks after the deposit with the Securities and Exchange Commission, and Fintech Company Chime would also have delayed his list.
CoreAn artificial intelligence infrastructure supplier last week has become the first company supported by a company to lift more than a billion dollars in an IPO since 2021. But the company reduced its offer, and trading was very volatile in its first days on the market. Friday, the title plunged 12%, which leaves it 17% above its supply price but below its initial range.
“You could not create a worse macro market and environment to become public,” said Phil Haslett, co-founder of EquityzenAn investment platform in private companies. “Too much turbulence. All flights are put to the ground until further notice.”
Coreweave’s investor, Mark Klein de Suro Capital, previously told CNBC that the company could be the first of an “Introduction parade”. Now he’s in return.
“It seems that the parade of the IPO has been temporarily interrupted,” Klein told CNBC by e-mail on Friday. “The current tariff situation has prompted these companies to take a break and assess its impact.”
“Crotte quickly”
During the presidential campaign last year, eminent venture capital like Marc Andreessen Supported Trump, expecting his administration to inaugurate a boom and would eliminate certain obstacles to the growth of startups established by the Biden administration. Andreessen and his partner, Ben Horowitz, said in July that their financial support in the Trump campaign was due to what they called a better “Little Tech Agenda.”
A spokesperson for Andreessen Horowitz refused to comment.
Some technicians who supported Trump in the campaign went to social networks to defend their positions.
Capitalist in venture capital Keith Rabois, managing director of Khosla Ventures, Posted on X Thursday that “Trump’s disturbance syndrome turned into pricing disturbance syndrome”. He said The prices are not inflationary, are effective in reducing fentanyl imports, and it expects that “most other countries will and will yield quickly”.
It was before the Chinese finance ministry indicated on Friday that it would impose a rate of 34% on all goods imported from the United States from April 10.
At Sequoia Capital, who is Klarna’s largest investor, Trump’s supporter, Shaun Maguire, Written on x“The first long -term president of my life”, and said in a separate post This, “the price of actions says almost nothing about the long -term health of an economy”.
However, the Chief Economic Advisor of Allianz, Mohamed El-Erian, warned on Friday that the vast raft of import prices of Trump puts the American economy in danger of recession.
“You have had a main rethink of growth prospects, with a recession in the United States of up to 50%, you have seen an increase in inflation expectations, up to 3.5%,” he told Silvia Amaro de CNBC on the sidelines of the Ambrosetti forum in Cernobbio, Italy.
The old CEO of Microsoft, Bill Gates, on the left, and Steve Ballmer, in the center, pose photos with CEO Satya Nadella during an event celebrating the 50th anniversary of Microsoft on April 4, 2025 in Redmond, Washington.
Stephen Brashear | Getty Images
Meanwhile, the leaders of Megacap de Tech companies were largely silent this week, and their representatives of public relations refused to comment on their reflection.
Microsoft CEO Satya Nadella was in the delicate position on Friday to celebrate the 50th anniversary of his business at the registered office of Redmond, Washington. Alongside the two previous CEOs of Microsoft, Bill Gates and Steve Ballmer, Nadella sat with Andrew Ross Sorkin of CNBC for a television interview which was planned long before the announcement of Trump’s price.
Asked about the prices at the top of the interview, Nadella actually dodged the question and avoided expressing her point of view on the question of whether new policies will hinder Microsoft’s affairs.
Ballmer, who was replaced by Nadella in 2014, recognized Sorkin that “the disturbance is very difficult for people” and that “as an actuity of Microsoft, this kind of thing is not good”. Ballmer and Gates are two of the 12 richest people in the world thanks to their Microsoft fortune.
C-Suites may not be able to remain silent for a long time, especially if the recent turmoil is poured in next week.
Buyer Lise, who previously helped to guide Google Thanks to its IPO and is now working as an advisor for companies that make in public, said there was no appetite for the market on the market under these conditions. But there are risks that staff members will become nervous, and they will surely turn to their leaders to reassure.
“Until the markets set up and we have the possibility of accessing the levels of evaluation, the CEOs of the public company should work to calm employees potentially in distress,” said the buyer in an email. “And managers of private companies should refine the plans to manage in dollars already in the treasure.”
– Hayden Field of CNBC, Jordan November, Leslie Picker, Annie Palmer and Samantha Subin contributed to this report.
WATCH: Chime would have delayed his IPO
