Silicon Valley's early return on Trump investment: Plunging valuations, delayed IPOs

The Nasdaq MarketSite in New York, June 9, 2023. Michael Nagle | Bloomberg | Getty Images Silicon Valley executives and financiers publicly opened their wallets in support of President Donald Trump's 2024 presidential run. The early returns in 2025 aren't great, to say the least. Following Trump's sweeping tariff plan announced Wednesday, the Nasdaq suffered steep consecutive daily drops to finish 10% lower for the week, the index's worst performance since the beginning of the Covid pandemic in 2020. The tech industry's leading CEO's rushed to contribute to Trump's inauguration in January and paraded to Washington, D.C., for the event. Since then, it's been a slog. The market can always turn around, but economists and investors aren't optimistic, and concerns are building of a potential recession. The seven most valuable U.S. tech companies lost a combined $1.8 trillion in market cap in two days. Apple slid 14% for the week, its biggest drop in more than five years. Tesla , led by top ... Read full article.