When the upper brass of Bay Area tech flocked east to pay their respects to Donald Trump earlier this year, they surely expected some preferential treatment in return. But instead, the president just hit them where it hurts.

Trump revealed sweeping new tariffs on Wednesday, including a 10% baseline tax on all imports and double or triple that much for certain countries. He dubbed the non-baseline tariffs “reciprocal” and noted that some goods would not be subject to those levies, including semiconductor chips, in a win for Silicon Valley. Nonetheless, on Thursday, the very tech executives who kissed Trump’s proverbial ring watched as his tariff announcement slammed the very thing they’re duty-bound to protect: the value of their companies.

Apple, the Cupertino giant whose CEO, Tim Cook, personally donated $1 million to Trump’s inauguration fund, is on pace for its worst stock market day in five years, CNBC reported. The iPhone and Mac maker is heavily reliant on Chinese manufacturing but also builds devices in India, Vietnam, Thailand and Malaysia; all are getting new tariffs that range from 24% to 46% of goods’ values. Dan Ives, a well-known tech investment analyst, wrote that Apple is in the “eye of the tariff storm” — a “Category 5 hurricane.”

As of midday Thursday, Apple’s stock price was down more than 9%, knocking over $300 billion off its market cap, and paring down the net worths of Cook and every stock-paid Apple employee. Ives estimated that, if the tariffs stay in place, Apple’s “price points would move up so dramatically its hard to comprehend.”