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Tech CEOs who grinned behind Trump at inauguration lose billions in wake of tariffs (www.independent.co.uk)

submitted 1 month ago by geneva_convenience@lemmy.ml to c/usa@lemmy.ml

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Tech billionaires who cozied up to Donald Trump were some of the biggest losers - shedding billions in net worth and values of their companies - in Thursday’s stock market losses as Wall Street reacted to the president’s tariff plan.

Meta stock was down 8.96 percent, Amazon was down 8.98 percent, Google had fallen 3.92 percent, while Apple had plunged over 9 percent. White House adviser Elon Musk also felt the pain, with Tesla sliding 5.47 percent.

The losses came as Wall Street saw a historically bad day on Thursday after Trump announced his “Liberation Day” tariffs on nearly every U.S. trade partner. The Dow Jones saw a point drop that ranked in the top five worst of all time, while the NASDAQ suffered its largest one-day point drop in that market’s history. The S&P 500 also saw its biggest one-day drop since March 2020, amid the COVID-19 pandemic.

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[–] miss_demeanour@lemmy.dbzer0.com 7 points 1 month ago (1 children)

Apple "donated" $1 million to the rapist's inauguration, and thus far Apple's valuation has dropped by $300 billion.
The fascist lying coward in chief is quite the business genius.

[–] anarchoilluminati@hexbear.net 2 points 1 month ago

He's a talented grifter, many people say the greatest grifter of all time.