US stocks were sharply lower Friday as investors digested souring consumer sentiment and inflation data that showed an uptick in one of the Federal Reserve’s key gauges, underscoring the delicate state of the economy as businesses brace for President Donald Trump’s tariffs.
The Dow tumbled 750 points, or 1.77%, on Friday. The broader S&P 500 fell 2.1% and the Nasdaq Composite slid 2.8%.
. . .
Wall Street was also grappling with Trump’s announcement on Wednesday of 25% tariffs on all cars shipped into the US, set to go into effect April 3. Trump also announced tariffs on car parts like engines and transmissions, set to take effect “no later than May 3,” according to the proclamation he signed.
We also believe the dynamic macro environment has contributed to a more cautious consumer
Am I getting this right? Is this double speak for “the government is fucking up so badly, people try to save some wealth for the inevitable fall of society”?
I look forward to mainstream media using real words with real meaning, again.
I think that is what the main point is. Brace for extremely hard times.
Thanks Trump
as businesses brace for
President Donald Trump’s tariffs.cheap stock buybacksI find it deeply funny that fascism is completely compatible with capitalism (it’s arguably its end-state), but they’re still tanking the economy because Trump doesn’t understand tariffs.
They understand tariffs. They want stock prices to tank so they can rake in on slashed prices. This is just more and more of the same wealth transfer in the past 45 years, just so in our faces that people don’t want to believe it’s happening.
I think that’s true for some of them, mostly the Wall Street folks who have enough diversified wealth to buy a lot of stock during the crash and wait it out. But I think the start-up folks, who’s companies have often never been profitable, and rely entirely on investors over-inflating their value to survive, are freaking the fuck out right now. And I think Trump is just legitimately dumb, doesn’t understand that a trade deficit doesn’t mean America is losing money, and genuinely doesn’t understand tariffs.
Fascism ultimately tanks any system because it prices loyalty above all else and you inevitably end up without any compitent people in charge.
Yeah, for sure, fascist regimes have a pretty short shelf-life in general because of cronyism and incompetence. I’m just saying there’s nothing inherent to fascism that should be tanking the economy right now in the way, say, a communist revolution would by causing capital flight. If he wasn’t pushing the worst, most unnecessary trade war in history, Trump could have a strong economy right now.
So much winning.
Billionaires and corporations are absolutely winning, in the foreseeable future.
While yes, the stock market going down is the opposite of “corporations winning”
If you bet on falling stock prices you can still get richer. Especially if you do not give a fuck about what companies you bet on. Or workers. Or society.
the pie is getting smaller but the oligarchs are getting bigger slices.
Meanwhile, the CAC40…
Wake me up when it’s worse than 2022.
Hope you like short naps
OMG… Trump was lying about fixing the economy? Please say it isn’t so!
This brings a smile to my face. My stocks are somehow all steady. The smile is not for those like me losing out. It for all those rich 1-3% who it really hurts. When the orange tumor and his apartheid nazi loses their support then perhaps we can do something that doesn’t equate to civil war.
lol, no. Rich ppl just gonna buy when retail sells. Smart money sold already.
Its a bit higher than the low it hit two weeks backish on the 13th. Its significant because the bit of recovery petered out and in the past little false recoveries like this was the stair step down that made it into a truly crashing market. It did not so far though fall below the low of the recent drop but it is pretty close to it.
“Technical” analysis is bullshit. There are enough value based indicators that show why the US stock market is going to have a rough time in the coming years without this hocus pocus speak.
E.g. the combined P/E of all stocks on the NYSE is over 25 while that of Nasdaq is over 29. That indicates a massive bubble as this ratio historically averages around 20.
This was already under Biden, Trump is just triggering the correction with his ineptitude instead of some outside factor. The fact he, unlike Biden, is not even trying to resolve the underlying causes will just make it worse.
I agree. honestly even that P/E is greatly skewed by this millenium. The correction was meant to happen about the time of covid but ironically covid caused a very short spike drop and I think the emergency itself combined with the efforts taken sort tar papered it out of it and it kinda went crazy opposite.
Younger generations should be itching for an entry into the market. Endless up and to the right isnt sustainable and, frankly, our economy is a lot of overvalued fluff to begin with. After decades of cheap money and speculation we are WAAAY overdue for a massive correction. I know I’m supposed to use this time to trash Trump but I swear some people just complain without ever identifying an opportunity to actually help themselves.
Buying in is perpetuating the bubble. Maybe those younger generations should be itching for a livable planet and not a few extra shares of the orphan crushing machine.
Very brave. Let’s all sing kumbaya.
The world is in this shitty situation because we’ve had decades of people taking opportunities to help themselves. I don’t think it’s a radical position to question what good a tiny bit of personal enrichment does.
I forgot how a tax by Trump on Americans to line his $trumpcoin pockets is going to help Joe Busboy. #bootstraps?
Let the lemmings follow Trump off a cliff. Everyone else, buy low if/when they can.
That’d be great if anyone had money to buy with.
I literally have no idea what you’re saying but it sounds like a weak attempt to trash talk Trump even though that’s not what I’m talking about.
“Gotta get in there & scoop up grandma’s retirement funds while they’re cheap!”
Gramma should have no guarantee that her assets go up indefinitely. That is a boomer concept. Infinite growth is unrealistic and unsustainable. Hopefully her kids and grandkids will take care of her like they are supposed to.
Why don’t those kids and grandkids invest their speculation money into something that tangibly helps grandma? Why go through the rigamarole of building a portfolio to maybe someday pay for a nursing home instead of funding a food bank or a mutual aid network?
Lol invest Grammas money in a food bank? 😆 Unless the bank is her refrigerator and the investment is groceries you’re just wasting money. You win for most unrealistic solution.
Gramma should live with you when she’s old not go to a nursing home. This is the way it’s meant to be done.
In 2022 nearly 1/10 households with an adult aged 65+ were food insecure.
Speaking of grandma living with you, multigenrational households are more than twice as likely to experience food insecurity.
Is feeding those people wasting money? You’re fine with your grandparents being part of that population if something unexpected happened to you?
Just admit that your solution is “fuck you, i got mine”.
If you are experiencing food insecurity don’t give your money to someone else.
If you have enough money to significantly invest in the stock market you’re not experiencing food insecurity
I told my partner that we needed to stop excessive spending like going out to eat while the economy is so uncertain. She was ok with that. I’m not feeling great about our (collective) future. Sigh.
I hate that going for a meal out is considered excessive, from someone who is in the same boat as you.
And all restaurant owners are probably bracing for this to hit hard.
Thanks trump.
The trump regime was designed to TANK the US economy so that stocks, businesses, and industries can be bought by billionaires at rock bottom prices.
All is going according to plan.
I have an acquaintance that works for an old money, very wealthy family from oil money. The kind that influences regional as well as national politics. He worked for them during the last major recession in the late ‘00s. He basically said that his employer and all their buddies were running all over the world buying everything they could “like it is a fire sale” during the recession.
So yeah. This is how we get more billionaires, more oligarchs, and more meta national corpo monopolies where one company controls multiple brand names.
The best we can do is to quit as soon as your company gets purchased. What they are after is the people. Specially the key role people.
Don’t document your process. Fix things without opening change requests. That way if you assemble things the quality will drop when you leave.
If you’re in a key role, just quit. Don’t go fucking around by deleting data. It’s better to make up data instead that seems real but is not. Never write an email that is personal or has anger in it because, even if you don’t send it, it gets saved. Same for your teams messages. You want to stay in the industry, but just quit if your company gets taken over by a billionaire.
Buy it with what? Billionaires don’t hold money, their valuation is all in stock value.
I think you’re giving them too much credit. Never attribute to malice that which can be explained by incompetence.
Lol billionaires absolutely have cash too.
It’s beneficial to keep most of it in stocks, sure, but they also get dividends, which can be used to buy more assets, or kept in waiting for a market downturn to buy even more assets.
https://www.cbsnews.com/news/billionaire-wealth-covid-pandemic-12-trillion-jeff-bezos-wealth-tax/
Between March 18, 2020, and March 18, 2021, the wealth held by the world’s billionaires jumped from $8.04 trillion to $12.39 trillion, according to the IPS’ analysis of data from Forbes, Bloomberg and Wealth-X. Amazon.com founder Jeff Bezos, the world’s wealthiest person, saw his fortune soar to $178 billion from $113 billion, or 57%, during that time, the study found. All told, the total wealth of the world’s billionaire class grew 54% during the pandemic year, IPS reported.
The billionaires don’t pay for their supercars, luxury mansion, security details, cesspool social media sites, and private jets with stocks my man. They have plenty of liquidity to go around.
False. They take out special loans only available to billionaires at less than 1% interest. They use their stock as collateral. They never pay back these loans because they don’t want to sell their stock and pay taxes in order to repay them. The banks don’t mind because they know they’re good for it. They keep doing this over and over. Their long term plan is when they die their estate will pay off their debt. That’s the recipe they use to pay zero taxes.
Can you define “rock bottom prices”? – asking for a friend.
Yeah, almost seems like it. I am convinced they are at least doing something like the “Mar-a-Lago Accord” to devalue the dollar, unseat the USD as the global reserve currency, inflate debt away, and make wages low enough and people desperate enough so more manufacturing is viable in the US again.
Good… goood…
Thanks trump. (if he can take credit for Biden’s economy then he can take credit for his ineptitude too)
This isn’t because of Bidens ineptitude though. This is entirely Trump’s fault. Anyone with half a brain could predict this after attacking our allies and bringing up the tariffs.
The tarrifs are 100% donnie.
If he can take credit for the past admin, he can take credit for his failures.
He won’t, Trump can do no wrong according to himself and his cult followers. Anything good is all him, anything bad is a nebulous thing he had no part of.
