Tech Worry About Trump Leads to Silicon Valley Stock Slump - NBC Bay Area
South Bay

South Bay

The latest news from around the South Bay

Tech Worry About Trump Leads to Silicon Valley Stock Slump

    processing...

    NEWSLETTERS

    Uncertainty about President-elect Donald Trump's position on tech is costing Bay Area investors a lot of money. Scott Budman reports. (Published Thursday, Nov. 10, 2016)

    It’s natural to have some uncertainty about a new President-elect.

    But in the case of Donald Trump, it’s costing Bay Area tech investors a lot of money.

    Even as the Dow — fueled by bank and energy stocks — hit new record highs on Thursday, tech stocks tumbled. Apple stocks fell 3.3 percent, Amazon 4.3 percent, Google parent Alphabet 3.3 percent, and Facebook 4.7 respectively.

    Blame uncertainty. Without knowing where Trump stands on tech, investors are backing away.

    “The problem is there really isn’t a clear bridge between Silicon Valley and Trump’s administration," venture capitalist Hemant Taneja of General Catalyst said.

    Without the bridge? Worry.

    And with worry, comes more selling.

    Scott tracks tech on Twitter: @scottbudman

    Get the latest from NBC Bay Area anywhere, anytime
    • Download the App

      Available for IOS and Android