Silicon Valley executives and financiers open their wallets to support the president Donald Trump’s 2024 presidential election. Early returns in 2025 are not good to say the least.

After Trump’s cleaning Tariff Plan Nasdaq announced that it has dropped sharply every day in a row, down 10% in a week, the worst performance since 2020 Covid Pandemic began in 2020.

The tech industry chief CEO is eager to contribute to Trump’s inauguration in January and attended events in Washington, D.C. It has been a slogan ever since.

The market can always turn around, but economists and investors are not optimistic, fearing that a potential recession is being established. The seven most valuable technology companies in the United States lost a total market capitalization of $1.8 trillion in two days.

apple The weekly gliding 14%, the biggest drop in more than five years. Teslaled by Trump’s top adviser Elon Muskdown 9.2%, and now it is down more than 40%. Musk contributed Nearly $300 million Help push Trump back to the White House.

Nvidia,,,,, Yuan and Amazon Everyone suffered a double-digit decline in the week. For Amazon, the ninth consecutive weekly decline marks its longest winning streak since 2008.

The consequences have already flowed to the IPO market due to concerns that widespread tariffs will punish the U.S. and the global economy, Wall Street sold risky assets. Online lender Krana and ticketing market ubhub Delayed their IPO Due to market turmoil, fintech’s Chime also delayed its listing in weeks after filing with the SEC.

CoreWeaveSince 2021, the provider of artificial intelligence infrastructure became the first venture capital firm to raise more than $1 billion in a U.S. IPO last week. But the company cuts its products and the deal has been very Variable Open days on the market. The stock fell 12% on Friday, 17% above its offer price, but below the bottom of its initial range.

“You can’t create worse markets and macro environments,” said Phil Haslett, co-founder of Equityzen, a platform that invests in private companies. “There’s too much turbulence. All flights are rooted until further notice.”

CoreWeave Investor Mark Klein Suro Capital Previously told CNBC that the company might be the first “IPO parade.” Now he traced back.

“It appears that the IPO parade has been temporarily stopped,” Klein told CNBC via email on Friday. “The current tariff situation prompted these companies to stop and evaluate their impact.”

In last year’s presidential election, famous venture capitalists such as Marc Andreessen were among the most popular venture capitalists Support Trumpexpect his administration to usher in a boom and eliminate some of the obstacles to some of the entrepreneurial growth established by the Biden administration. Andreessen and his partner Ben Horowitz said in July that their financial support for the Trump campaign was due to what they called better “Small technical agenda.”

A spokesperson for Andreessen Horowitz declined to comment.

Some technicians who support Trump on the campaign have entered social media to defend their stance.

Venture capitalist Keith Rabois Posted on X On Thursday, “Trump’s devastating syndrome has evolved into tariff risk syndrome.” explain Tariffs are not inflation, effectively reducing fentanyl imports, and he hopes that “most other countries will be in a hurry.”

That was when the Chinese Ministry of Finance said on Friday that it would impose 34% tariff All goods imported from the United States starting April 10.

In Sequoia Capital, the biggest investor in Klarna, outspoken Trump supporter Sean Maguire Written on X“The First Long-term Thinking President of My Life”, and in A separate post That is, “the price of stocks has little to say about the long-term health of the economy.”

But Mohamed El-Erian, chief economic adviser for Allianz Friday Warning Trump’s vast raft Import tariffs It is putting the U.S. economy at risk of recession.

“Your growth prospects are redefined as growth prospects, with a 50% chance of a recession in the United States, and your expectations are increased by 3.5%.”

Meanwhile, executives at Tech’s Megacap firm remained largely silent this week, with their public relations representatives declining to comment on their thoughts.

Microsoft CEO Satya Nadella Friday celebrating the awkward position of his company 50th anniversary Company headquarters in Redmond, Washington. Along with Microsoft’s first two CEOs, Bill Gates and Steve Ballmer, Nadella sat down with CNBC’s Andrew Ross Sorkin for a TV interview that was planned before Trump’s tariffs were announced.

When asked about tariffs at the top of the interview, Nadella effectively avoided the question and avoided expressing her opinion on whether the new policy would hinder Microsoft’s business.

Ballmer was inherited by Nadella in 2014 Acknowledge to Sorkin This “destruction is very difficult for people”, “as Microsoft shareholders, this kind of thing is not good.” Ballmer and Gates are two of the 12 richest people in the world, thanks to their Microsoft Fortunes.

C-Suites may not be able to remain quiet for a long time, especially if the recent turmoil spills into next week.

Liss Buyer, has helped guide before Google Through the IPO, now an advisor to a publicly open company, said there is no interest in market risks in the market under these conditions. However, employees are at risk of jitter and they will certainly seek assurance from leaders.

“Until the market resolves, we have the opportunity to get a valuation level, and the CEO of a listed company should work hard to calm down potential distressed employees,” the buyer said in an email. “And, private company managers should refine the plan to cash out the dollar in the Treasury.”

– CNBC’s Hayden Field, Jordan Novet, Leslie Picker, Annie Palmer and Samantha Subin contributed to the report.

watch: Chime reportedly postponed IPO