Nearly every major tech stock was down on Thursday, one day after Donald Trump was officially elected president.
Apple, Google, Microsoft, and Amazon were all in the red, despite the broader market being up.
While the Dow Jones industrial average ended up more than 200 points (1.17%) on Thursday, the tech-heavy Nasdaq ended down more than 70 points (-1.62%).
Brian Wieser, an analyst for Pivotal Research, said tech stocks are getting hit because people are concerned inflation might be higher under Trump.
"Interest rates are spiking, presumably because of concerns of higher inflation under the new administration," Wieser told Business Insider in an email. "As a result, anyone whose value is more dependent on future cash flow is worse off. I think that's why we are seeing a fall-off in technology/software-focused companies vs. the other media companies I cover, where moves haven't been very significant."