Dow plunges 2,000 points after China retaliates against Trump’s tariffs.
Dow plunges 2,000 points after China retaliates against Trump’s tariffs.
US stocks were battered by a sell-off Friday after China retaliated against the United States for President Donald Trump’s tariffs in a tit-for-tat that escalates a global trade war.
The Dow plunged by 1,950 points Friday afternoon, or 4.82%, pulling back slightly after being down more than 2,000 points. The broader S&P 500 was 5.4% lower. The tech-heavy Nasdaq Composite was 5.36% lower and on track to close in a bear market — down more than 20% from its record high in December.
Mhm, stockpiling in inverse positions was the right choice! Thank god I can at least earn some money while watching the world burn..
I wonder how that guy who was all "LGBT rights or Economic Stability?" feels about the situation now..
he doesnt care. he is rich
So insensitive, his 10 billion is only 7.85 billion. How will they survive living like gutter trash?
You can bet every little bounce up it does is from his buddies buying up the dip until he drops the whole deal to restore things to normal. Suddenly the rich own an even higher % than they did before in just a few week's time.
Since we know it's a grift, is there anything non-billionaires can do to profit off the situation?
The only good way I can think of is to short and wait, who knows how long this would prolong.
The problem is all his buddies know when he's going to do something so they can easily time their trades.
If you don't know when and what and how much, you're going to be at a massive disadvantage.
E.g - I'm sure insiders billionaires knew what these tarrifs were going to be, and they could sell in advance. Everyone else just knew they were coming, but not what, so there was more hesitation and uncertainty. And then the billionaires will know in advance that he's going to suddenly switch his mind, and we won't know until he does it.
When do you think he will restore things to normal?
One month before midterms?
My guess, around the time they buy up all the free floating stocks on the market.
Please let me know when to buy.
!remindme 2029
America had better get ready for the world calling Trump's "negotiating tactic" bluff.
I like how the article’s title makes it sound like it’s China’s fault…
Don't care about the grand casino lines and neither should you, unless you look at the fancy lines you personally invested in.
The bigger coming bomb will be when those tariffs actually catch up with domestic consumption (going down hard because no one has money anymore to pay for all of this), leading to mass layoffs, leading to even more reduction in consumption because even less people have money, leading to more layoffs, leading to... Mass austerity that will eat up the savings reached by dismantling the government, because of the brutal tax losses for the remnants of said government.
Americans should be angry because most American retirement plans are heavily rooted in the stock market these days.
America’s right has been pretty relentlessly trying to get people out of pensions and into 401Ks for decades, and now that same party is blowing up the economy yet again.
It isn't just our retirement plans, it's also our jobs that are tied to the market. When stock prices drop, then companies start tightening their belts, which usually involves layoffs.
America’s right has been pretty relentlessly trying to get people out of pensions and into 401Ks for decades
Not just pensions. They've also been trying to get rid of Social Security in favor of private retirement accounts invested in the stock market for decades now.
Expect another 2-5k trim when the EU announces its retaliation.
Calm down, it will be stable for the next 2 days. 😋
Our glorious leader is so smart. He can destroy the country and the idiots will still follow him.
Do you only fuck sharks that are communists, or are you a communist that fucks sharks?
I suppose that's not mutually exclusive, after thinking about it.
Communist shark
Juan.
Watching my retirement account get kicked in the balls sure feels great. I’m feeling so liberated.
Liberating dollars from American pockets
The biggest worry I have is that to obfuscate things, Trump is going to do something even more stupid in the next coming days.
Every time he awakens is stupid.
You love to see it, folks!
Is there a site with a list of stats, some stuff like current stock index prices, interest rates, employment rate, and then some more basic stats like gasoline prices, egg prices, milk prices, etc, from before inauguration day and today with diff?
This has to exist somewhere already right?
Sounds like you're asking for the Consumer price index. Not sure how often it gets calculated though