After election night, tech investors awoke to the prospect of a Trump presidency and sent just about every major tech stock down into the red (except Twitter).
The sudden dip was perhaps the least frightening thing to happen last Wednesday, but now that we’re looking at a week-long trend, it’s worth a closer examination.
Today most major tech stocks are still down by a few points, including Apple, Google, Microsoft, Amazon, Facebook, Netflix, Tesla, PayPal, Shopify, GoDaddy, and Salesforce. Exceptions include Intel, IBM, eBay, Box, and, of course, Twitter.
All is certainly not lost. But Trump’s impact on the tech industry may cast a dark shadow over Silicon Valley, where long-term optimism in a sunny, tech-infused future pays the bills for growth-obsessed unicorns and public tech companies alike.
Unlike Clinton’s campaign, which publicly documented the Democratic nominee’s stance across all major tech policy issues, Trump’s tech agenda remains unclear — or maybe even unformed.
Trump has expressed deep contempt for Net Neutrality, but he has also flip-flopped on everything from immigration to encryption. The tech industry may struggle to cooperate with a president who said, in 2007, “I don’t do the email thing.”
For now, there are many unknowns. Whether the week-long trend of tech stock losses continues is one of them.