US stocks were sharply lower Friday as investors digested souring consumer sentiment and inflation data that showed an uptick in one of the Federal Reserve’s key gauges, underscoring the delicate state of the economy as businesses brace for President Donald Trump’s tariffs.
The Dow tumbled 750 points, or 1.77%, on Friday. The broader S&P 500 fell 2.1% and the Nasdaq Composite slid 2.8%.
. . .
Wall Street was also grappling with Trump’s announcement on Wednesday of 25% tariffs on all cars shipped into the US, set to go into effect April 3. Trump also announced tariffs on car parts like engines and transmissions, set to take effect “no later than May 3,” according to the proclamation he signed.
So much winning.
11 weeks ago, ‘2023’ was last year.
This isn’t a slump yet. If Dougie shuts off the power to three states, I hope he does it during a break between the “oh no unregulated drinking water had maaaaaaaassive e.coli in it” diarrhea outbreak right when the softwood tariffs have cratered the toilet paper supply the worst.
At that point in time, expect a stark realization of the state of things to cause some sadness to leak into the market too. I predict three northern states fighting for black market TP and shitting prolifically in the dark to really affect the market. But probably, still, not his numbers.
right when the softwood tariffs have cratered the toilet paper supply the worst
Time to invest in bidets.
Or just wipe your arse on the curtains.
I find it deeply funny that fascism is completely compatible with capitalism (it’s arguably its end-state), but they’re still tanking the economy because Trump doesn’t understand tariffs.
Fascism ultimately tanks any system because it prices loyalty above all else and you inevitably end up without any compitent people in charge.
Yeah, for sure, fascist regimes have a pretty short shelf-life in general because of cronyism and incompetence. I’m just saying there’s nothing inherent to fascism that should be tanking the economy right now in the way, say, a communist revolution would by causing capital flight. If he wasn’t pushing the worst, most unnecessary trade war in history, Trump could have a strong economy right now.
They understand tariffs. They want stock prices to tank so they can rake in on slashed prices. This is just more and more of the same wealth transfer in the past 45 years, just so in our faces that people don’t want to believe it’s happening.
I think that’s true for some of them, mostly the Wall Street folks who have enough diversified wealth to buy a lot of stock during the crash and wait it out. But I think the start-up folks, who’s companies have often never been profitable, and rely entirely on investors over-inflating their value to survive, are freaking the fuck out right now. And I think Trump is just legitimately dumb, doesn’t understand that a trade deficit doesn’t mean America is losing money, and genuinely doesn’t understand tariffs.
wow, pandemic numbers without a pandemic. trump rules…!
It’s hard to lie about stock prices, let’s watch them continue to shout their propaganda as the riots start.
-
They inherited Biden’s economy
-
trump can’t affect anything so soon
-
It would be worse under Kamala
-
We’ll just have to suffer a little pain while trump fixes things
Take your pick of weak excuse
At this point the people that still like trump would happily live in a cardboard box as long as people they didn’t like were denied a cardboard box
His supporters would clap and cheer in the dark while he unscrews the last lightbulb.
-
Meanwhile, the CAC40…
OMG… Trump was lying about fixing the economy? Please say it isn’t so!
This brings a smile to my face. My stocks are somehow all steady. The smile is not for those like me losing out. It for all those rich 1-3% who it really hurts. When the orange tumor and his apartheid nazi loses their support then perhaps we can do something that doesn’t equate to civil war.
lol, no. Rich ppl just gonna buy when retail sells. Smart money sold already.
Thanks Trump
Wake me up when it’s worse than 2022.
Hope you like short naps
Wow who would have thought a demented orange traitor shitstain and his micropenis techbro side kick were absolutely imbeciles ……if only there had been signs
Why is Captain Kirk chilling at the Dow?
This is also called a buy phase
Buy low, sell high
Trumps policies are expected to pass costs on to consumers but have the benefit of maintaining production and development internally which should long term keep more money inside the USA, hardening supply lines against foreign influence. Given that China is openly campaigning for war on Taiwan by 2027 latest, and they’re responsible for close to 80% of critical imports to US minerals, this puts the US in a predicament which Trump (probably not on purpose tbh, I won’t give him the credit) is preparing for.
Tariffs on raw metals and minerals have proven effective since his first term with significant improvements in domestic refinement.
-“Tardif pass-through and implications for domestic markets: Evidence from US steel imports” Ahmad et al. (2023).
This isn’t shared by other aspects of the supply network though like finished products or more complicated manufacturing because market instability halts investment in those areas, so no development actually increases in the US and prices just increase. This is a fatal flaw in the tariff calculus that is hurting trade and the economy. Manufacturing takes years to develop and adapt, and no one will leap on that kind of investment without clear assurances.
