And who wants to look at their portfolio now?U.S. stocks are falling in a manic Monday after President Donald Trump doubled down on his tariffs, despite seeing how much Wall Street wants him to do the opposite.
The S&P 500 was down 1.7% in midday trading, coming off its worst week since COVID began crashing the global economy in March 2020. The index, which sits at the heart of many investors’ 401(k) accounts, has been flirting with a drop of 20% from its record set less than two months ago.
Earlier in a heart-racing morning, the Dow plunged as many as 1,700 points shortly after trading began, following even worse losses worldwide on worries that Trump’s tariffs could torpedo the global economy.But it suddenly surged to a leap of nearly 900 points.
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The sudden rise for stocks followed a false rumor that Trump was considering a 90-day pause on his tariffs, one that a White House account on X quickly labeled as “fake news.” Stocks then turned back down.
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Soon after that, Trump threatened to raise tariffs further against China after the world’s second-largest economy retaliated last week with its own set of tariffs on U.S. products.
Chicago Tribune
The only pain Trump is moved by is in his sphincter.It’s a slap in the face to Wall Street, not just because of the sharp losses it’s taking, but because it suggests Trump may not be moved by its pain.
Have they met Trump? Vengeance and power outweigh everything else. He has his shitcoin, Elon Musk's purse, and an unending supply of rubes to buy his every scam to fill his own coffers.Many professional investors had long thought that a president who used to crow about records reached under his watch would pull back on policies if they sent the Dow reeling.
MAGA can say goodbye to the lives they thought they were going to live.
Further bad news: It's taking down the whole world with it.
UPDATE 02:07 pm:
By the end of the year, oodles of small businesses will be out of businesses.
UPDATE 07:37 pm:
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