The Nasdaq markets in New York, June 9, 2023.
Michael Nagle | Bloomberg | Getty pictures
The managers and financiers in Silicon Valley openly opened their toxic pockets to support President Donald Trump 2024.
After Trump's tariff plan announced on Wednesday, the NASDAQ suffered strong daily declines in successive consolation in order to become 10% lower for the week.
The leading CEO of the tech industry made Trump's inauguration in January and early to Washington, DC, for the event in Washington. Since then it has been a slog.
The market can always turn around, but economists and investors are not optimistic and concern a potential recession. The seven most valuable US tech companies have lost a market capitalization of 1.8 trillion dollars in two days.
Apple For the week by 14%, his biggest decline in more than five years. TeslaLed by the Top Trump consultant Elon Musk, fell by 9.2% and has now declined by more than 40% a year. Musk contributed almost 300 million US dollars to drive Trump back to the White House.
NvidiaPresent Meta And Amazon All suffered double -digit drops for the week. For Amazon, a ninth a week in a row has been its longest such defeat since 2008.
Since Wall Street is sold out from risky assets that are concerned that widespread tariff hikes are punished by the United States and the global economy, the consequences have decreased to the IPO market. The online loan Klarna and the ticketing Marketplace, Stubhub, postponed their stock markets due to market turbulence, just a few weeks after submitting the Securities and Exchange Commission, and the FinTech Company Chime also reports the list.
CoreweaveAs a provider of the infrastructure for artificial intelligence, the first company was collecting more than $ 1 billion on a US IPO since 2021. However, the company dismantled its offer and the trade was very volatile in the opening days on the market. The stock fell by 12% on Friday and left it 17% above its offer price, but below the initial area.
“They could not create a worse market and macroumpfield to go public,” said Phil Haslett, co-founder of Equityzen, a platform for investments in private companies. “Far too much turbulence. All flights are grounded up to further announcements.”
The CoreWeave investor Mark Klein from Suro Capital previously announced CNBC that the company could be the first in an “IPO parade”. Now he goes back.
“It seems that the IPO parade was temporarily stopped,” said Klein on Friday by e -mail by e -mail. “The current tariff situation has prompted these companies to pause and evaluate their effects.”
“Cave fast”
During the last year's presidential campaign, prominent risk capitalists such as Marc Andreessen Trump supported and expected his government to initiate a boom and to eliminate some of the hurdles for the start growth of the bidges. Andreessen and his partner Ben Horowitz said in July that their financial support from the Trump campaign was due to what they described as a better “small technical agenda”.
A spokesman for Andreessen Horowitz refused to comment.
Some technicians who supported Trump in the campaign went on social media to defend their positions.
The capitalist Keith Rabois, managing director at Khosla Ventures, set up on Thursday on X that “Trump of theangement -Syndrome transformed into the tariff -hersing syndrome”. He said the tariffs were not inflationary, are effective in reducing fentanyl imports and he expects “most other countries will quickly lower and lower”.
This was before the China's Ministry of Finance on Friday that it will impose a tariff of 34% on all goods from the USA from April 10th.
At Sequoia Capital, the largest investor in Klarna, the pronounced Trump supporter Shaun Maguire, he wrote about X, “the first long-term thinking president of my life”, and said in a separate contribution that “the price of shares suggests almost nothing about the long-term health of a convalation of an economy”.
However, the Economic Advisor Mohamed El-Erian in Allianz was warned on Friday that Trump's extensive area of import duties spends the US economy of the risk of recession.
“You have a great repetition of growth prospects. A recession in the USA rose to 50%.
Former Microsoft -CEOS Bill Gates (left) and Steve Ballmer, Center, posing at an event with CEO Satya Nadella for the 50th anniversary of Microsoft on April 4, 2025 in Redmond, Washington.
Stephen Brashear | Getty pictures
In the meantime, managers of the Megacap companies from Tech were largely silent this week, and their representatives of public relations rejected to make comments on their thinking.
Microsoft CEO Satya Nadella was in unpleasant position on Friday when he celebrated the 50th anniversary of his company in the corporate headquarters in Redmond, Washington. In addition to Microsoft's former CEO Bill Gates and Steve Ballmer, Nadella sat down with Andrew Ross Sorkin from CNBC for a television interview that was planned long before Trump's tariff announcement.
When Nadella was asked about the tariffs at the head of the interview, he effectively evaded the question and avoided expressing his views whether the new guidelines will hinder the business of Microsoft.
Ballmer, who was replaced by Nadella in 2014, emphasized Sorkin that “disorders are very difficult for people” and that “as a Microsoft shareholder is not good”. Ballmer and Gates are two of the 12 richest people in the world thanks to their Microsoft assets.
C-suites may not be able to stay calm long, especially if the latest turbulence is buried in the next week.
Lise buyer who previously helped Google After his IPO and now as a consultant for companies that go to the stock exchange, there is no appetite on the market under these conditions. But there is a risk that the employees will become nervous, and they will surely search for their managers after their calming down.
“Until the markets come to terms and we have the opportunity to access the level of evaluation, the CEOs of the public company should work to calm potentially needy employees,” said the buyer in an e -mail. “And private corporate management should refine plans to get into dollars in the Ministry of Finance.”
– CNBCS Hayden Field, Jordan Novet, Leslie Picker, Annie Palmer and Samantha Subin have contributed to this report.
REGARD: Chime reports that the IPO is delayed
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