Remember when all those Bay Area tech CEOs cuddled up to Trump with $1 million inauguration donations? Boy did that just blow up in their faces! They lost billions today, and one yelled “Oh shit!” when he checked his stock on a live earnings call.

Future historians will chuckle (well, if we survive long enough that there are any future historians) over a detail about today, April 3, 2025, which was the US stock market's worst day since, well, the last time Donald Trump was president. That detail is seen below, as this morning’s opening bell on the New York Stock Exchange was rung by the head honchos of right-wing news outlet Newsmax, with a probably drunk Rudy Giuliani on hand.    

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.

The biggest losers were tech stocks, which are disproportionately Bay Area companies. But the funniest moment from all this carnage came from a non-tech CEO, SF’s own Restoration Hardware (now called RH) CEO Gary Friedman. Friedman was actually on a live conference earnings call when he checked the company’s stock price, and then blurted out an obscenity on the call.

CNBC captured the moment. “Where’s our stock now?” Friedman asks on the call, apparently not knowing the truth yet. “ I guess the stock was down based on some of the numbers we reported, and we got killed because of — really? Oh, shit! Okay. I just looked at the screen. I hadn’t looked at it.”

At the “Oh, shit!” moment, RH had lost 25% of its value today. By the time the markets closed, RH had lost 40% of its value.

The big tech companies took it the hardest, though. Apple's stock nosedived by 9.2% just for the day today, representing a loss of roughly $311 billion. Meta stock plummeted 9% and lost $132 billion in market capitalization, Santa Clara-based chipmaker Nvidia’s stock fell by 7.8%, and Google/Alphabet fell by 4%.

Hey, remember when all those tech CEO’s were lining up to give Trump million-dollar donations for his inauguration, because they thought Trump might be good for the tech industry?  How’s that working out for you, guys?

Of course, Trump thinks it’s all working out great. “I think it’s going very well,” he told reporters after the market closed. “It was an operation, like when a patient gets operated on.”

Trump had better hope that operation was a lobotomy if he wants to keep his support among the wealthy tech set — or anyone with a retirement account.

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Related: WASHINGTON, DC - JANUARY 20: Guests including Mark Zuckerberg, Lauren Sanchez, Jeff Bezos, Sundar Pichai and Elon Musk attend the Inauguration of Donald J. Trump in the U.S. Capitol Rotunda on January 20, 2025 in Washington, DC. Donald Trump takes office for his second term as the 47th president of the United States. (Photo by Julia Demaree Nikhinson - Pool/Getty Images)