- cross-posted to:
- [email protected]
- cross-posted to:
- [email protected]
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.
You must log in or register to comment.
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.
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.
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.
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.
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.
Journalism should be, but does not currently. Newspapers usually, as in decades ago, but do not currently.
It is a bad thing to platform viewpoints that are incorrect or that shouldn’t be spread
The premise of this article is that the market is a great oracle that reveals truth. Fucking liberals.
random short-term daily market fluctuation vs. long term data?
- People who want to predict the future based on random fluctuation: Impossible;
And yet he is left alone to do it all. The world has truly given up on itself when such obvious shit is allowed to run unchecked.
deleted by creator
Came here to make sure people saw some comments about cashing out and waiting this out.
I’m selling.
The upside if somehow our trade partners fold and we get sweater trade deals is the market would see a bump. Doubt it would be huge and you would have time to buy back in and suffer a small loss of growth.
This downside if this backfires is the dollar becoming weaker and opening the door for other powers to insert themselves as the economic fintech lubricator. This could see the market tumble.
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”.
Nah there will be, but it won’t make a difference. Why stop when they keep winning?
‘Significant losses’ being 30 points?
Yeah these people know jack shit about market variations.
It didn’t “plummet” lol its less than a 1% change
Literally this, it’s hard to take this messaging seriously with these kind of declarations
Markets have been closed since Friday. Come Monday, we’ll see what’s what.
Lololololololololol, fixing worthless Trumper pretending it’s not a big drop because percentages
It’s dropped to where it was on Thursday. We’ve had 4 bigger drops in the last month and it’s still up compared to where it was a month ago.
I didnt say it wasnt a drop. I just am pointing out that it’s not really a “plummet”
And I’m the opposite if a trumper lol
It hasn’t even begun to drop, LOL. Wait a couple of days.
If bitcoin/crypto is anything to go off of, that’s down 10% +. Come Monday the market will probably be a sea of red
But we only have 99 left!
99 to go!
Here we goooi! To the floor!
Then back up for that growth and profit!
MAGA must be beside themselves with all this…. winning.
deleted by creator
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
deleted by creator
Dow…drop…450 points
That’s 1%. Which means we are pretty much at a wash for the last week. Pretty minimal.
https://m.facebook.com/story.php?story_fbid=2069436850145993
50 States, 50 Protests, 1day
Feb 5 @ your downtown.
Looks like the link was taken down…
It opened for me.
On Facebook…really?!!
That’s where the sleeping sheep are at so yeah unfortunately.
Bro do you think a protest is going to happen by posting it on lemmy
You’re 100% correct. Do i have to be happy about it? 💩
it’s also on not Facebook
Tariffs are the opposite of a “free market” measure and absolutely choke an interconnected economy. Look at the damage done to Cuba or North Korea by sanctions, it’s the same principle. Getting to the real meat of why this is happening is like a forensic case study. Doesn’t even benefit Trump unless he basically immediately reverses it and gives the old “see they capitulated to my demands” based on whatever random thing he dredges up.
It helps folks who are positioned to buy the dip.
Just another opportunity for the oligarchs to buy more of our country at a discount!
As long as the stock/asset/etc. actually goes back up, yeah. And yeah, you can short a decline as well.
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.
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.
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%
If you’re going to “well, ACKchyuallllly” someone, it helps to have any idea what you’re talking about.
The DOW “plummeted” 337,47 points from 44.882,13 to 44.544,66, a reduction of ~0,75%. Given the drop wasn’t percentage based but was additionally expressed as a percentage of the previous closing price for context, it would require an additional ~132 similar drops to reach zero.
Now, you’re probably noticing I listed the DOW and ~132 drops here versus NASDAQ and 134 drops prior. That’s because I was making a joke and was not much concerned about details. This is because, unlike certain individuals, I am not one of the most insufferable types of people: the pedant.
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.
Press: ryrybang slams New Republic article!
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.
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.
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.
Mother fucker bankrupted a casino. He knows absolutely nothing about business.
Bankrupted three casinos: Trump’s Taj Mahal, Trump Marina, and Trump Plaza.
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.
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.
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.
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.
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.
0.01% drop = plummet
0.01% rise = soar
It’s the law of finance headline writing
deleted by creator
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.
