On April 3, 2025, the US stock market experienced its worst day since the Trump presidency, plummeting 1,700 points and losing $3.1 trillion. This catastrophe primarily affected tech stocks of Bay Area companies, many of which had previously supported Trump with hefty donations. A notable moment occurred when Gary Friedman, the CEO of Restoration Hardware, reacted live during an earnings call, expressing his shock and frustration at the losses. He admitted to not anticipating the dramatic fallout from Trump's tariffs, underscoring the precariousness of aligning with political powers.
CEO curses "Oh, shit!" live on air as stock tanks on Trump tariffs. "Oh, shit! OK... I just looked at the screen. I hadn't looked at it."
The New York Stock Exchange would promptly plummet 1,700 points, and according to the Wall Street Journal, the US stock market lost $3.1 trillion in a single day today.
#stock-market-crash #bay-area-tech #trump-administration #business-earnings-call #corporate-reactions
Collection
[
|
...
]