- cross-posted to:
- progressivepolitics@lemmy.world
- cross-posted to:
- progressivepolitics@lemmy.world
Summary
Donald Trump announced new tariffs against China, Mexico, and Canada, sparking market turmoil as the measures were set to begin this weekend.
Following the announcement, major indices plunged, with the Dow Jones, NASDAQ, and S&P 500 suffering significant losses, reflecting investor anxiety across global markets.
Canada, Mexico, and China vowed retaliatory tariffs, with officials warning that these measures could escalate trade conflicts and significantly harm economic stability.
Critics argue the tariffs will harm consumers and businesses, creating global trade uncertainty and risking prolonged economic challenges in the United States.
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Yea! That’s the way Republicans and Trump support the economy!
I wonder if we outsiders have to rebuild the American economy with foreign aid and a new Marshall plan in 2029…
Sold my VOO. I will wait until the drop to get back in.
Are egg prices plummeting?
Where are all of the “I’m worried about the economy” voters at? Come on be loud and proud!
One of the funniest things I read was a WSJ article on tariffs, in the comment section. Along with a lot of copium about how they, personally, don’t buy such items, some dumbass bitching that WSJ - that’s right, the Wall Street Journal - is showing their bias against donvict.
The ONLY gloom and doom articles I saw in WSJ during Biden’s high inflation term were in the opinion section. Your bias is clearly showing …
Apparently, reporting on items likely to be affected by the donvict taxes on goods is “bias”. That WSJ, always known for their extremist progressive WOKE agenda and their “TDS”. LOL
I’m looking at both the dow and the nasdaq, and they look fine. Where is this “plummet” the article is referring to? Not that I think the tariffs are good, but let’s be truthful.
Right? -0.5% yesterday, -1.0% for the week. Totally normal and not deserving of any kind of adjective.
Certainly not saying Lady Trump’s actions won’t kill the stock market, but this ain’t it yet.
Not exactly what I would classify as a plummet, but we were seeing green numbers for the day and then they subsequently turned down once this was announced.
Still too early to say whether we’re going to be looking at any form of sharp downturn.
0.01% drop = plummet
0.01% rise = soar
It’s the law of finance headline writing
Starting just after 11 AM EST, the S&P went down over 1%. It’s not a steep plunge; that kind of swing happened on Monday for AI, too, IIRC.
Not sure what the article is talking about. I’m sure once tariffs are announced it will drop tho. But that’s a problem for monday.
Right. The S and P 500 went down 0.5% yesterday, it’s a pretty typical trading day and still up over the last five days, month, six months and the year.
Trumps a lunatic, but one thing he does understand is business.
He seems to understand shell companies, tax avoidance, cheating your contractors, and strategic bankruptcy. He understands shilling for sponsors buying and selling favors, fleecing the rubes. I guess those are business strategies but there’s no evidence he understands ethical business.
Trumps a lunatic, but one thing he does understand is business.
This is mostly a branding thing, he’s not actually particularly good at running businesses.
I’ll give him that he’s somewhat of an expert in avoiding any form of accountability.
Mother fucker bankrupted a casino. He knows absolutely nothing about business.
Numerous failed businesses and bankruptcies beg to differ.
What Trump understands is marketing. A stupid enough audience, tell them lies with enough confidence, and they will let Trump fleece them like sheep.
DJIA shorts are up 347% seems a lot of people are leaning towards a downside
Going down less than one percent is the opposite of a ‘plummet.’ It is literally indistinguishable from a normal daily fluctuation.
Furthermore, the market has overall gone up since.
OK but they did fall rapidly, and one can only surmise it’s because of the announcement of more tariffs.
The market is driven by emotion, which is why doing anything other than long term investing is risky. I’m sure the fluctuation was connected to his tariff announcements. You want to see a real fall? Wait until the tariffs become a thing and people realize he’s screwed up a functional system. I wonder how fast one can backtrack such things? If it wasn’t for the harm done to so many people, I’d love to see if it’s a Brexit level mess, or just a temporary hiccup once they reverse course.
Just an anecdote, but I sold all my SPY yesterday. I kept some more conservative investments in but I think once people see inflation from the tariffs it will drop.
Seems more like a Liz Truss level mess. Unfortunately, unlike the UK, in the US system it’s effectively impossible to remove their leader from power. So they’re stuck with him even after he craters the economy.
Right, absolutely. I’m not saying that Herr Drumpf just kickstarted a recession and neither do I think that’s the claim that the article is trying to make. The market, however, had a very clear reaction to just the MENTION of tariffs. What happens when the details to these tariffs are released? What happens when they are actually implemented?
Why are you posing as an authority on this? Its painfully obvious youre talking out of your ass.
I never said I was. Trump promised tariffs on EU countries and stocks went down. I’ll grant you they didn’t go down by a lot, but I don’t think the article was being disingenuous.
It will react with more details similarly. Like I said, it’s putting them into place that’s the real hit, and it will be much more than a stock market drop. I suppose tariffs do have a place in some circumstances, but he’s throwing darts, and none of them are stuck in the target.
Darts implies at least some degree of precision. This is just flinging shit wildly in all directions.
Hold on now, that was a NASDAQ loss of nearly 0.75%. If the Americans do that 134 times in a row, all their money will be gone! How would they buy their eggs? /s
(1 - 0.0075)^134 ≈ 36.5%
Critics argue the tariffs will harm consumers and businesses, creating global trade uncertainty and risking prolonged economic challenges in the United States.
God damn it media, can’t we just call a fucking spade a spade. Anyone with a fucking functional brain knows these tariffs will harm consumers and businesses. “Critics,” my ass. Informed people, more like.
It’s this kind of shit that allowed us to get here to begin with, an unwillingness to just say the painful, obvious truth and speak it to power.
There are lots of good opinion pieces out there that satisfy your needs in that regard, but at its core, journalism should just be taking sources and presenting it in a way that people can read easily. Newspapers usually dont claim anything themselves, they just repeat claims made by other people. Thats not a bad thing, thats just how this works.
It will harm consumers and small businesses way more than it will harm the big corporations. And that’s exactly the goal: consolidate the government by crippling their biggest enemy in the middle-class. It’s how fascism operates: make sure only your supporters survive.
The big corporations already planned their loopholes into the order. For them, this helps them consolidate power by driving smaller businesses out, or to where they’re forced to sell.
Hanlon’s Razor does not apply to this administration. It is malice. They know exactly what they’re doing.
I really think this is wrong. These moves arguably harm large business even more than small ones because the complex supply chains that go into most large corporations’ goods are getting totally fucked by these tarrifs and the supplier agreements locking them probably more often than not do not give them a clear out for situations where the dumbest motherfuckers in the country elected their chief dumb motherfucker into the highest seat.
Regardless, the ones most hurt by this are consumers, and especially those without the means and/or ability accommodate this fuckery.
The complex supply chains are just as important for small businesses, but the small businesses have no leverage and are powerless to do anything about them.
And hedge funds keep betting against the fucking economy. 401ks, savings, and pensions will all be effected. They want to steal your money.
All I hope is that Americans grow the balls for a general strike.
There were plans for May 1st 2028 since three major unions are renegotiating at that time.
I’m not sure it can wait four years.
Trump or someone exactly like him will be re-elected in 4 years.
There won’t be elections in 4 years
I think we will have Hungarian or Venezuelan style “elections”.
‘Significant losses’ being 30 points?
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The premise of this article is that the market is a great oracle that reveals truth. Fucking liberals.
