Trump tariffs: Stocks soar as US president announces tariff pause
Trump tariffs: Stocks soar as US president announces tariff pause
But Trump also raises tariffs on goods from China to at least 125% "effective immediately".
Stocks have almost returned to where they were 5 days ago after his latest change to the tariffs.
100 points after losing thousands is not "soaring". That's like saying "Well I lost my job, my home, and my wife, but I just found $20. Amazing"
Write a country song about that, MAGA sickos.
Yeah, that's the BBC's headline. I didn't like it either, I guess it seems like "soaring" if you're looking at the 1 day view. If you're looking at the 1 week view it looks like "recovering". If you're looking at the 3 month view it's more "recovered slightly".
An hour later it’s up 3000
It won't hold. Again. Wait for tomorrow.
Highlighting the erratic trading conditions, a raft of stocks listed on the Nasdaq hit market speed bumps today and were halted after lurching higher — a common practice to prevent rapid changes in a stock or stock index’s price from getting out of control.
Yeah, wait for tomorrow. Takes some time to really realize what's going on with these psychos.
Still down almost 30% since "Sleepy Joe Biden" gave up power.... Oh look, Trumps golfing again.
I'd buy him a pound of golf balls if it kept him out of the Whitehouse. He's WAAAAAAAY more effective when he's not doing his job.
All time high was right before the election at ~45k, and now it's around 40k, so about 11% down. Not sure where you came up with 30%, but it never even got close to that. A 30% drop would be around 31k, and the lowest it hit was around 37k. We all hate Trump, but don't just make up numbers for internet points.
Can you imagine being a company, or even just a small business owner trying to make long-term plans in this environment?
Say you run a pest-control business in Texas. Things are going well, so you're thinking about hiring your neighbour's fat son to do some work during the summer. Then the tariff chaos starts. Do the chemicals you need for your business get more expensive? You buy them from DuPont, a good American company, but where does DuPont get the raw materials? The tariffs change week to week, sometimes day to day, so it's really hard to know what your costs are going to be, and what you'll have to charge. One of your other neighbours, Americans, but originally from Laos, have been good customers over the years, but what if ICE deports them? Your wife's massage therapist has been snatched twice by ICE now because he "looks Mexican" even though everybody knows he's Native American.
And there's your best buddy who works in propane. You'd think that that would be safe from tariffs, but it turns out a lot of the accessories he sells are manufactured in China. If he loses his job, his wife's salary as a teacher isn't going to be enough to keep them afloat.
Damn did I enjoy this comment.
I just wanna say I love your comment and the KOTH references.
The problem with buying American is that your best options are brands like Ford. You know what Ford stands for? Fix it again Tony.
Ford looks to be top in most assembled in the US. However where do the parts come from? To determine the best cost value (ignoring quality) you'd have to break down the import costs for everything based on origin and see which US assembled car is less impacted. Or if it's just cheaper to buy a totally imported car made somewhere else.
Can't wait for the King of the Hill reboot or whatever it is. Should be out some time this year.
There’s probably enough evidence of personal gain from market manipulation and some more felonies. If only he hadn’t appointed everyone who could do something about it. What a fucking con man
Corrupt to the bone, and not even interested in hiding it.
Why would he bother? He did the same shit to a lesser degree his first term and Americans said "sure, more please."
Tesla is up 23% today. There's definitely fuckery going on.
Pump-and-Dump Stock Benefits From Pump-and-Dump Market
Buy low...sell high. Somebody's making a killing off of all this chaos, and it ain't us.
I wish they'd just call it what it is - import duty.
I work in Chlor-Alkali Electrolysis and some of our biggest customers in the US run their electrolysers for water purification. I don't know their market share but they purify the majority of US water between them.
They buy everything to maintain the electrolysers from us. Nuts, bolts, washers, every last component, as each component is tried and tested to work in our electrolysers through decades of design and testing.
One customer had an arrival today and suddenly had a bill for about 40k more than they were expecting due to the foolish tariffs and the changing of of product classifications on the USHTS. If they buy their spares elsewhere the warranty on their electrolyser becomes invalid, and - as I've seen time and again - cheaper, untested spares will usually result in a catastrophic failure somewhere down the line.
This is just one example, but old moron is messing with all kinds of key industries with his fiddling, and the only people paying are the importers and, eventually, the general public.
Our costs have not changed and we sell at the same price that we are contracted to, but now the companies that purify US water have hundreds of thousands of extra import duty each year if this comedy continues, and they can't just pull out and start again as they have invested tens of millions and there is no suitable US company who can do what we do without decades of investment and research.
Maybe the Fantascist will magic this industry into existence, but it will cost at least twice what we can do it for when it is eventually ready. The companies will undoubtedly charge more for the products they make to compensate, and the US public will foot the bill.
These tariffs hurt the US the most.
What's wild is that they can't even plan for this. If they'd had 5 years of lead time maybe they could have transitioned to an American-made alternative. Maybe your company could have opened an American manufacturing plant or something.
The way things are now, the tariff is likely to change between the time they place the order with you and the time the item arrives. If they could somehow delay delivery for another week, maybe they could avoid being charged the tariff. Or, maybe the tariff will double.
Even if tariffs were a good idea (and for the most part, they're not), the chaotic vibes-based way they're being implemented is so incredibly destructive.
Buy the VIX now, because this is just a dumb idiot doing dumb idiot things.
I'll just leave this here. Bought back in at the end of the session yesterday.
Follow for financial advice
Bold of you to think there's going to be a "back up".
