Following President Trump's second inauguration, major Silicon Valley leaders celebrated potential deregulation and merger opportunities. However, a sharp decline in market valuation, amounting to $2.7 trillion within 50 days, resulted from growing recession concerns, government job cuts, and disappointing economic reports. The Nasdaq Composite faced its largest drop since March 2020, leading to stagnant investor confidence in governmental market interventions. Prominent tech billionaires suffered significant wealth reductions, underscoring the tense market climate bolstered by aggressive trade stances and new tariffs, particularly affecting longstanding economic expectations.
Yet, barely 50 days later, the total market valuation of these seven technology heavyweights has plunged by around $2.7 trillion.
The fallout has been particularly harsh for some billionaire founders... have seen their collective wealth dive by more than $170 billion since the start of the year.
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