Tech companies lose $2.7 trillion on Wall Street despite Trump’s promises

Meta, Apple, Microsoft, Amazon, Alphabet, Nvidia, and Tesla together reported a deficit equivalent to the entire GDP of France.

Tech giants have lost $2.7 trillion in market capitalization in three weeks, despite their rapprochement with US President Donald Trump, which promised a successful future with deregulation and better conditions for global competition in the field of artificial intelligence (AI).

The “Magnificent Seven”—Meta, Apple, Microsoft, Amazon, Alphabet, Nvidia, and Tesla—have lost the equivalent of France’s entire GDP in the last three weeks, a fact that contrasts with the remarkable gains they recorded in the weeks following the Republican’s victory, when they led the rise of the S&P 500 and the Nasdaq technology indexes.

The magnates behind these companies initially benefited from their good relationship with Trump, whom everyone—except for the CEO of Nvidia—watched as he took office from the front row of the Capitol.