Shortly after President Donald Trump was elected on Nov. 8, the stock prices of a slew of shipping companies soared by more than 1000 percent on hopes that commodity prices would rise and U.S. manufacturing would rebound, spurring a surge in shipments of everything from iron ore to computer parts.

However, analysts say that the hopes are fading, which is apparent in the subsequent decline in share prices.

“We had the initial gush that Trump was going to cure all the world’s economic problems,” Peter Boockvar, chief market analyst at The Lindsey Group, said in an interview. “Now reality is setting in that America first-type protectionism is not good for global growth.”