Dow drops 1,300 points, S&P 500 enters bear territory on Trump tariff market collapse: Live updates
Dow drops 1,300 points, S&P 500 enters bear territory on Trump tariff market collapse: Live updates
Trump posted on Saturday to Truth Social for people to "hang tough" and that this was an "economic revolution."
U.S. stocks were slammed for a third day on Monday as the White House remained defiant even after President Donald Trump’s rollout of shockingly high tariff rates on most key U.S. trading partners has caused a market meltdown.
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They are doing their best with the framing, but I do get the feeling - considering how futures had been trading before - this is going to be a dead cat bounce.
It turned positive on some rumor of a pause in tariffs. Whitehouse denied it on CNBC and markets tanked again.
Interesting to note the same thing happened with CA/Mex tariff 1month pause, and after denying the rumor Trump did the pause anyway. IMHO that’s why today’s bounce had legs, algos uncertain if near history will repeat itself. It just might, careful how many puts you load up on out there traders!
We’re an hour into the trading session.
Right now we’re all just pushing the stock price planchette — the bears and shorts all entered this morning with their trades queued up from the weekend.
Where we stop nobody knows, usually there are a few reversals through the day.
the bears and shorts all entered this morning with their trades queued up from the weekend.
Yupp, that's why it would be very fitting as a proper dead cat bounce from just the massive amount of shorting that had already been happening.
But you are also right - no one has a crystal ball here. Who knows where the volatile ride will stop.
There was a brief $200 spike that lasted 15 minutes and then went back down to where it was. Looks like someone with a lot of money made a bid to "buy the dip". Absolutely nothing to justify this headline.
Yupp, seems that they quickly changed it back, too, lol.
