Summary
U.S. stocks tumbled Thursday as market volatility continued after Trump’s abrupt 90-day tariff pause and raised tariffs on Chinese imports to 145%.
On CNN, former Treasury Secretary Janet Yellen called Trump’s economic policies the “worst self-inflicted wound” an administration had ever imposed on a “well-functioning economy.”
The Dow dropped 2.5%, Nasdaq 4%, and S&P 500 3.4%. Trump tried to defend the move as strategic leverage.
Critics condemned the chaos and raised insider trading concerns after Trump told subscribers it was a “great time to buy.”
Could this whole situation really be as simple as the largest scale “pump-and-dump” ever?
No, because the damage he has done is ongoing and could literally bring the USD down from the preferred security of the world economy.
And if he does that, then all that speculative wealth in our still-inflated stock market is worth tittlywinks.
They’re gonna cash it out in RMB, not leave it in US stocks.
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I like on CNBC tried to cut him short when he said what he said. Was watching it live since I’ve been enjoying this whole melt down.
While CNBC has been kind of neutral but trying to justify the means to the end this guy came up and said it like it is. We are close if not already in a recession thanks to these idiots.
This is a question for anyone:
I can’t find a good definition of a fiscal recession. I understand that it involves “multiple months of downward trends” on things like GDP.
Exactly how long does the downturn have to last before they declare that it is officially a period of recession? Is it really just 2 months or more?
It’s usually two quarters. By the time we are officially in recession we have been for half a year.
Call it ‘strategic leverage’ all you want, but when your move tanks the market and raises insider trading red flags, it starts to look less like policy and more like profiteering in a patriotic hat. 😏
Idk what they’re on about. The five day for NASDEQ is basically 0% rn
