US stock markets tumbled on Thursday as investors parsed the sweeping change in global trading following Donald Trump’s announcement of a barrage of tariffs on the country’s trading partners.
All three major US stock markets closed down in their worst day since June 2020, during the Covid pandemic. The tech-heavy Nasdaq fell 6%, while the S&P 500 and the Dow dropped 4.8% and 3.9%, respectively. Apple and Nvidia, two of the US’s largest companies by market value, had lost a combined $470bn in value by midday.
Meanwhile, the US dollar hit a six-month low, going down at least 2.2% on Thursday morning compared with other major currencies and oil prices sank on fears of a global slowdown.
“US stock market sees the worst day since the last time Trump was President.”
Good. Now that we are here, I hope trump causes the complete fall of American Capitalism along with American world influence. We haven’t been worthy of our position since the late 40’s, if we ever were.
Trump trying to beat his top score, maybe tomorrow…
“We are going to start being smart and we’re going to start being very wealthy again,” Trump said.
What a crock of shit.
with hyperinflation we all be millionaires
We can all be trillionaires when it gets bad enough!
Everything these guys say should be taken as indication of the exact fucking opposite
He is correct about the being wealthy part, at least in the short term, as long as “we” in that sentence refers to him and Elon Musk, and possibly a few other billionaires who were at his inauguration. Somebody has to take all the resources that are being lost by the American people.
I didn’t want to ever retire anyway.
You’re looking at it the wrong way. The fall of capitalism is the retirement plan, the people losing the most money rn were never gonna let you if things kept going the same way.
Ask seniors currently being squeezed for all they’re worth while being abused by staff in cramped and unsanitary facilities how they’re loving their retirement fund. That was the best case scenario.
He’s going to resort to the 3 failsafes: deny everything, blame someone else, do more dumb stuff (so that you can’t keep up).
!lemmySilver
