Nasdaq Marketite in New York, June 9, 2023.
Michael suddenly Bloomberg Getty images
Management and financiers from the Silicon Valley publicly opened their portfolios to support the president Donald Trump 2024 Presidential race. Early returns in 2025 are not great.
After sweeping Trump Tariff plan Announced on Wednesday, Nasdaq suffered a steep subsequent daily declines to finish 10% lower during the week, the worst index results from the beginning of Covid Pandemic in 2020.
The leading director of the technology industry threw himself at the inauguration of Trump in January and paraded to Washington for this event. Since then, it was a slogan.
The market can always turn around, but economists and investors are not optimistic, and fears build a potential recession. The seven most valuable American technology companies lost a total of USD 1.8 trillion in market capitalization within two days.
Apple Scent 14% per week, which is the biggest decline in over five years. Teslamanaged by the best adviser Trump Elon Muskfell by 9.2% and fell by over 40% per year. Musk has contributed Nearly $ 300 million To help Trump back to the White House.
NvidiaIN Finish AND Amazon Everyone suffered two -digit drops for a week. For Amazon, the ninth in a row the weekly fall means the longest such a lost series since 2008.
Because Wall Street sold out risky assets that the widespread tariff increases would punish the US and the global economy, the fall has fallen to the IPO market. Online lender Klarana and Stubhub ticket market delayed their IPO Due to market turbulence, just a few weeks after submitting the application to the Securities and Stock Exchange Commission, and Chime Fintech Company also delays its list.
CoreweaveThe supplier of infrastructure of artificial intelligence, last week became the first company supported by the undertaking, which collected over $ 1 billion in the American IPO since 2021. But the company reduced the offer, and trade was very volatile During the opening times on the market. On Friday, the shares fell by 12%, leaving 17% above the price of the offer, but below the bottom of the initial range.
“It was impossible to create a worse market and macro environment to make public,” said Phil Haslett, co-founder EquitizenInvesting platform in private companies. “Much too much turbulence. All flights are established until further notice.”
Investor Coreweave Mark Klein Z Suro Capital Earlier, CNBC said that the company could be the first in “IPO Parade”. Now he is withdrawing.
“It seems that the IPO parade has been temporarily suspended,” said Klein CNBC on Friday. “The current tariff situation prompted these companies to stop and assess its impact.”
“Cave fast”
During last year's presidential campaign, an outstanding Venture Capital, such as Marc Andreessen supported Trumpexpecting that his initial administration Boom and eliminates some obstacles to the development of the biden administration. Andreessen and his partner, Ben Horowitz, said in July that their financial support in the Trump campaign was caused by what they called better “Little Tech Agenda”.
A spokesman for Andreessen Horowitz refused to comment.
Some technicians who supported Trump in the campaign started to social media to defend their positions.
Venture Capitalist Keith Rabois, Managing Director at Khosla Ventures, Posted to X On Thursday, “Trump's madness team transformed into a tariff's madness team.” He he said The tariffs are not inflationary, effectively reduce the import of fentanyl and expect that “most other countries will be quickly cave and cave.”
It was before the Chinese Ministry of Finance on Friday that he would impose it 34% tariff on all goods imported from the USA from April 10.
In Sequoia Capital, who is the largest investor in Klarana, the sincere supporter of Trump, Shaun Maguire, wrote on x“The first long -term president of thinking of my life” and said in separate post It is: “The price of the action says almost nothing about the long -term health of the economy.”
However, the main economic advisor of Allianz Mohamed El-Erian warned on Friday Trump's extensive raft Import tariffs They expose the American economy at the risk of recession.
“You had a serious review of growth prospects, and the US recession increased to 50% probability, you noticed an increase in inflation expectations, to 3.5%,” said Silvia Amaro CNBC off the beaten track of Ambrosetti Forum in Cernobbio.
Former general director of Microsoft Bill Gates, on the left, and Steve Ballmer, Center, pose for photos with CEOs Nadella saty during the event on the occasion of the 50th anniversary of Microsoft on April 4, 2025 at Redmond, Washington.
Stephen Brashear Getty images
Meanwhile, the managerial staff of Megacap this week was largely silent, and their representatives of Public Relations refused to comment on their thinking.
Microsoft CEO Satya nadella He was in an awkward position on Friday, celebrating his company 50th anniversary at the corporate headquarters in Redmond, Washington. In addition to the previous two general directors of Microsoft, Bill Gates and Steve Ballmer, Nadell sat with Andrew Ross Sorkin from CNBC on a television interview, which was scheduled long before the Trump's tariff was announced.
When asked about the tariff at the top of the interview, Nadella effectively avoided the question and avoided expressing her views on whether the new rules would hinder Microsoft's activity.
Ballmer, whose successor was held in 2014, He admitted to Sorkin This “disruption is very difficult for people” and it is: “As a Microsoft shareholder, such things are not good.” Ballmer and Gates are two of the 12 richest people in the world thanks to their Microsoft Fortunes.
Suites C may not be able to remain silent for a long time, especially if the last confusion spills out until the next week.
Lise buyer who had previously helped lead Google Through IPO and currently he works as an advisor for companies that were publicly found, there is no risk appetite on the market under these conditions. However, there is a risk that employees will be nervous, and they will definitely look at their leaders to ensure some assurance.
“Until the markets are determined, and we will be able to access the valuation levels, the directors of a public company should work on calming potentially concerned employees,” said buyer in Mail. “And the management of private companies should improve the plans to earn dollars already in the treasury treasury.”
– CNBC's Hayden Field, Jordan Novet, Leslie Picker, Anna Palmer and Samantha Subin contributed to this report.
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