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.
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 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.
Yes, run to other countries
Where? Pax Americana enveloped all of the developed world and American shanenigans have an impact on everywhere it would be nice to live. Late stage capitalism is a global problem nowadays. Americans are getting fucked economically but europeans are facing the collapse of security structures and the need for huge arms investments, also the wave of right wing populism doesn’t seem to be receeding. IDK too much about situation in south America but apart from Argentina 100 years ago SA countries never seemed to be the best of countries to live. Developed nations of Asia probably have the same problems as Europe right now.
I guess we should just hope that China doesn’t turn their strategy from economic expansion to something more imperialistic and will still be satisfied with us just consuming tons of their plastic shit.
This is why I voted for Trump for his handling of the economy.
Biden would have crashed the markets if he stayed in.
If Kamala was president there would be people dying in Gaza right now!
And there wouldn’t be that peace between Ukraine and Russia that was accomplished in 24 hours.
He didn’t say which twenty four hours.
Yeah, wasn’t it Rubio or another sycophant who laid that gem on the world?
Not sure which of the cabinet said it first, but for anyone wondering–this isn’t satire. The “which 24 hours” is a real line Trump supporters are regurgitating.
You seem to have miscalculated.
Joyous cake day, though it seems it was you who miscalculated, they seem to be jesting.
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?
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…
Expect another 2-5k trim when the EU announces its retaliation.
Our glorious leader is so smart. He can destroy the country and the idiots will still follow him.
Calm down, it will be stable for the next 2 days. 😋
Maybe, if you ignore reality
Reality is the next 2 days are Saturday and Sunday.
So relax and enjoy the weekend.Holiday jokes are my favorite in the stock market
I can’t. I’m on call.
I’ll enjoy it twice as hard to compensate.
You’re a team player.
Jokes aside, have a good weekend.
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.
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.
