Markets Crater Post-Tariffs as Trump Proclaims America 'Is Healing'
By: Ryan Bort (Rolling Stone)
well, at least trumpski can't blame a (mismanaged) pandemic for wrecking the US economy this time ...
S E E D E D C O N T E N T
Donald Trump upended the global economy on Wednesday by announcing a sweeping package of tariffs on goods imported into the United States. The move is expected to significantly increase the price of foreign-produced goods — from produce, to alcohol, to cars, and beyond.
The White House seemed to be well aware of the likelihood the announcement would create massive economic chaos, as it delayed the president's "Liberation Day" event until after the markets closed for the day. They reopened on Thursday, though, and … yeah, it's not looking good.
The S&P 500 is on track for its worst day in two years, quickly dropping 3.6 percent, while the Dow Jones Industrial Average and the Nasdaq both dropped over 3 percent. Several major multinational corporations were hit hard, as well, with equities that declined outnumbering equities that saw gains by 6 to 1, per CNBC.
Trump, meanwhile, is proclaiming victory — apparently based on the fact that the United States continues to exist the morning after he threw a grenade into the economy. "THE OPERATION IS OVER! THE PATIENT LIVED, AND IS HEALING," he wrote on Truth Social. "THE PROGNOSIS IS THAT THE PATIENT WILL BE FAR STRONGER, BIGGER, BETTER, AND MORE RESILIENT THAN EVER BEFORE. MAKE AMERICA GREAT AGAIN!!!"
Trump's minions have been blitzing news programs to do damage control.
Agriculture Secretary Brooke Rollins went on Fox Business to proclaim a "whole new world" because of Trump's "Liberation Day," as the network displayed tickers showing sharp declines of the S&P, Dow, and Nasdaq next to her as she spoke. "We are really, really excited, and very grateful for President Trump's leadership," Rollins said.
Billionaire Commerce Secretary Howard Lutnick went on CBS to laud how the tariffs will turn the United States into "the most extraordinary, the most powerful place" and that "Americans are behind Donald Trump." When asked how long Americans are going to have to wait to start feeling the supposed benefits of Trump's tariffs, Lutnik said at least some of them will be immediate: "You're going to see employment leaping starting today."
Stellantis NV, which owns Chrysler and makes Ram trucks and Jeeps, announced around the same time Lutnick was speaking that the company is temporarily laying off 900 workers at five U.S. facilities as a result of Trump's tariffs, and is pausing production at two plants in Canada and Mexico.
Rollins and Lutnick both acknowledged that the tariffs will mean higher prices for Americans. Treasury Secretary Scott Bessent, who has previously admitted prices will go up as a result of the tariffs, seemed hesitant to do so while speaking with CNN Wednesday night, suggesting absurdly that maybe businesses will just eat the costs themselves. He didn't have a clear answer when asked where he expected the markets to open on Thursday. "I don't know," he said. "I don't know where it's going to open tomorrow, I don't know where it's going to close tomorrow."
Well, now we know the first answer.
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trumpski makes the economy he alleges biden had tanked even worse ...
Economy is far from tanking.
Look How the Associated Press Reacted to the March Jobs Report
Markets were due for a much needed and temporary correction. Investors will latch onto any excuse to panic.
Ridiculous.
The report came in at a suspect 228,000.
Last month it came in at 171,000 and was later "corrected" to 115,000.
As I have said repeatedly, wait for the facts to come in.
The March jobs report is certainly no result based upon tariffs announced in April as the President has suggested.
Next month will also be a curiosity.
Meanwhile, Germany is thinking out loud about removing 1.2 tonnes of Gold from the Federal Reserve of NYC.
Several countries are thinking out loud about abandoning the dollar as the global standard of stability.
The president thinks that Liberation Day will be celebrated in the future.
Maybe, but maybe not for the reasons he intends...
I think she meant "Brave"
Agriculture Secretary Brooke Rollins went on Fox Business to proclaim a " whole new world " because of Trump's "Liberation Day," as the network displayed tickers showing sharp declines of the S&P, Dow, and Nasdaq next to her as she spoke.
"We are really, really excited, and very grateful for President Trump's leadership," Rollins said.
I suppose there are many people who actually do think its "exciting" (?):
Live updates: Stock market suffers worst week since 2020
World shares slid downward and Wall Street appeared on track for another day of crushing losses as investors counted the potential costs of US President Donald Trump’s latest set of tariffs including China’s retaliatory match of 34% tariffs on US imports.
lol …. The Dow “cratered” by a much larger percentage during Bidens watch and we were told by our friends on the left here how strong Bidens economy was.
Biden:
11/08/2021 - 36,432
09/30/2022 - 28,726
Trump:
01/30/2025 - 44,882
04/03/2025 - 40,456
Do the math if you can …..
So what you are saying is that the market has been dropping since trump took office. Got it.
Your words not mine
4 months vs almost a year?
The logic was the high and low point difference for each. I could have picked Jan 21th when Trump started and it would have looked even worse for Biden. Besides, why does it matter? We were being told how great Bidens economy was the whole time. Now a drop half the size is the end of the USA? Just because Trump is POTUS?
C’mon Frosty …. That dog don’t hunt.
Trump said that if the market ever drops more than 1000 points in a day, that president should resign.... So.........how long do we have to wait for trump to resign?
Ask him. In the meantime, prepare your responses for when things recover.
Gonna get tricky spinning that yarn …..
LOL?
Well, of course you're entitled to your opinion...but I personally aren't laughing at other peoples' misfortunes.
It’s okay, you’ll survive.
"Healing"? From what? Until December of 2024 we had the best economy in the world and America was the envy of the entire world based on how well we bounced economically back after Covid.
Now we are " heeling" or "kneeling" to a mad man bent on tearing America down while he golfs with Saudi sell outs.
Trump, because he is mentally ill, is at the current time a clear and present danger to the peace and tranquility of the United States. I hope there are at least a couple level headed people around him, although that appears to be questionable too.
Well, there are a few-- but they are obviously in the minority:
Republican Senator: Tariffs May Spur 'Political Decimation' of Party
Republican Senator Rand Paul of Kentucky predicted that President Donald Trump's tariffs could lead to the "political decimation" of the Republican Party.
Paul was one of four GOP senators who joined Democrats who voted to oppose Trump's tariffs on Canada on Wednesday and is one of few Republicans in Congress who are opposing his tariffs.
"Trade wars are good and easy to win."
-- Donald Trump
Wow, a meaningless meme.
<Shock Face>
/S