cross-posted from: https://lemmy.world/post/28033197
Summary
US stocks fell sharply Thursday after a historic rally, as investors refocused on lingering economic damage from Trump’s tariffs. The Dow dropped over 900 points, with the S&P 500 and Nasdaq also down.
Despite Trump’s 90-day pause on some “reciprocal” tariffs, others remain, including a universal 10% tariff and 25% duties on autos, steel, and more.
Economists warn of recession risks. China raised tariffs to 125% on US goods, with Beijing responding in kind.
Markets remain volatile, and analysts say temporary relief hasn’t changed underlying economic threats.
Glad I was 20 in 2008 so my lifestyle had no changes at all during that recession, it was easy to stay a drugged out punk during that time