Stocks and cryptocurrencies tied to President Donald Trump should have soared this year but instead have plunged, saddling some of his most ardent supporters with significant losses.

Since taking office on Jan. 20, shares of Trump Media & Technology Group, which trades on the Nasdaq and the New York Stock Exchange, have declined more than 70%. The digital “meme coins” named after Trump and first lady Melania Trump have fared far worse, falling 86% and 99% since the start of the year.