Tech Giants Tumble: Trump Tariffs Trigger Market Meltdown for Apple, Amazon, and Silicon Valley Elite
Staff Editor Tech Giants Face Market Turmoil as Trump’s Tariff Plans Shake Investor Confidence
In a dramatic turn of events, major technology and finance stocks have experienced significant declines following President Donald Trump’s announcement of new tariff plans. The proposed measures include a 10% blanket tariff and additional levies targeting specific countries, sending shockwaves through Wall Street and Silicon Valley alike.
The impact has been particularly pronounced for industry leaders such as Apple, Amazon, Google, Meta, Tesla, Uber, Goldman Sachs, and Oracle. These companies, whose CEOs had previously shown varying degrees of support for the Trump administration, are now grappling with substantial market losses.
Apple, led by CEO Tim Cook, has seen its shares plummet by 23% since January 21. This comes despite Cook’s previous $1 million donation to Trump’s inaugural committee and the president’s praise for Apple’s U.S. investment plans.
Amazon, whose founder Jeff Bezos had lauded Trump’s political comeback, is facing a 26% decline in share value. The e-commerce giant had also contributed $1 million to Trump’s inauguration committee.
Google, under CEO Sundar Pichai, is weathering a 27% drop in share price. Pichai had attended Trump’s inauguration and praised his election win, with Google matching Apple’s $1 million donation to the inaugural fund.
Meta, formerly Facebook, is experiencing a 17% decline in share value. CEO Mark Zuckerberg, who attended Trump’s inauguration and oversaw a $1 million donation to the inaugural fund, now faces renewed market challenges.
Uber, whose CEO Dara Khosrowshahi congratulated Trump on his victory and matched the company’s $1 million inaugural fund donation, has seen a more modest 4% decline in share price.
Goldman Sachs, led by CEO David Solomon, who had praised Trump’s engagement with the business community, is grappling with a 27% share price drop. The company recently removed diversity and inclusion sections from its website, aligning with Trump’s policies.
Tesla, helmed by Elon Musk, a significant donor to Trump’s re-election campaign, has been hit particularly hard with a 48% decline in share value. The electric vehicle manufacturer faces challenges due to tariff fears and ongoing protests.
Oracle, co-founded by Larry Ellison, an open Trump supporter who hosted a fundraiser in 2020, has seen its shares decline by 28%. Ellison is also involved in Project Stargate, an AI initiative backed by the Trump administration.
Other notable figures in the tech and finance world, including Sam Altman and Masayoshi Son, are also involved in Trump-supported initiatives, further highlighting the complex relationship between Silicon Valley and the current administration.
As the market continues to react to these developments, the affected companies have not responded to requests for comments. The situation remains fluid, with investors and industry observers closely monitoring how these tech giants will navigate the evolving economic landscape under Trump’s new tariff regime.
