Fear that Trump tariffs will spark recession wipes out more than $2 trillion in value from US stocks

[spanone]

2 TRILLION DOLLARS WIPED OUT IN ONE DAY BY DONALD J. TRMP.

U.S. companies had trillions of dollars in value wiped out Thursday after President Donald Trump slapped sweeping tariffs on foreign imports.

Virtually every sector suffered big losses as U.S. financial markets closed with their biggest one-day drop since COVID-19 flattened the global economy five years ago.

Banks, retailers, clothing, airlines and technology companies were among the hardest hit, with consumers expected to cut spending if tariffs lead to higher prices for goods and services.

Many economists called the tariffs much worse than expected, and investors dumped shares in companies they predict will suffer most from what is effectively a business tax.

https://apnews.com/article/financial-markets-tariffs-trump-trade-cea98013c677e5b9bd6ce6166f4ce659

[mahina]

1. Bet he and Putin and Miller made a giant pile. The top ten biggest drops in the chart are all under trump.

[jmbar2]

2. Trump "saved" America $2 trillion today

That meets the Doge target, right?

[Lovie777]

3. I guess the stock market is open on Friday................

if so, it could be another bad day.

Plus shithole will make an announment next week for more tariffs. That's real bad.

[Tadpole Raisin]

4. I just saw he supposedly said he is open to negotiations on the tariffs.

Sure, and Lucy Van Pelt will not pull the football away this time either.

[JCMach1]

5. We are already in Q1 of the Trumpcession markets

Are just adjusting for expected level of pain.

[Bernardo de La Paz]

6. The most optimistic projections (by tRump regime) are $600 B / yr from tariffs paid regressively by US residents

1) It would take three and half years (till the end of tRump's term) for the Treasury to collect that much money.

2) The people who will pay that money are the people who lost their money today.

3) The people who lost and on top of that will pay that money will never see it again because most (all?) of it will be given away to the 1 percent.

[EndlessWire]

7. I think we will be lucky

to avoid a full blown depression. He has coupled firing tens of thousands of workers with crippling tariffs. He does not have the talent to pull off whatever he is trying to do. He's sure gonna miss the America he knew, by the time he's done.

Plus, you know, measles, natural disasters, he's on the hook for all of that. Any little ole hurricane that creams MAL, and there's no FEMA to request money from, like he did before. Guess he thinks he can negotiate with wind, I dunno.

He's sucking the life out of the US. I'm not looking forward to bloody Christmas trees from Melania, either.

[C_U_L8R]

8. No one on Wall St knows what Trump might do next

but they are quite confident that he'll continue to screw things up.
They're betting on it.

[spanone]

9. The last thing Wall St wants to see...chaos