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.

  • @korendian
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    601 month ago

    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.

    • @[email protected]
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      201 month ago

      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.

    • @ryrybang
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      151 month ago

      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.

    • @CharlesDarwin
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      121 month ago

      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.

    • @NocturnalMorning
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      91 month ago

      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.

    • @TsarVul
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      31 month ago

      What do you mean? It did fall and the article links to each respective stock. As of writing this comment, DJI fell 337 points, NASDAQ fell 54, S&P 500 fell 30 points.

      They are being truthful.

      • @SpaceNoodle
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        301 month ago

        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.

        • @TsarVul
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          31 month ago

          OK but they did fall rapidly, and one can only surmise it’s because of the announcement of more tariffs.

          • Rhaedas
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            111 month ago

            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.

            • @[email protected]
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              41 month ago

              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.

            • @MutilationWave
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              21 month ago

              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.

            • @TsarVul
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              11 month ago

              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?

              • Rhaedas
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                21 month ago

                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.

                • @[email protected]
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                  11 month ago

                  Darts implies at least some degree of precision. This is just flinging shit wildly in all directions.

              • @SamboT
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                11 month ago

                Why are you posing as an authority on this? Its painfully obvious youre talking out of your ass.

                • @TsarVul
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                  -11 month ago

                  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.

                  • @SamboT
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                    21 month ago

                    There have been bigger day swings in the last couple weeks than there was with this announcement.

                    Thats what the stock market does and everyone always zooms into a 1hr chart to show a dip as if it didnt go back up by extended session close that same day.

      • @Thrawne
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        41 month ago

        DJIA shorts are up 347% seems a lot of people are leaning towards a downside

    • @StupidBrotherInLaw
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      01 month ago

      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

        • @StupidBrotherInLaw
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          1 month ago

          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.

    • XIIIesq
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      -141 month ago

      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.

      • @[email protected]
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        161 month ago

        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.

      • @[email protected]
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        161 month ago

        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.

      • @AA5B
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        121 month ago

        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.