3d ago

Stock market plummets as Trump announces new tariff war

newrepublic.com Stock Market Plummets as Trump Announces New Tariff War

Donald Trump announced new tariffs will take effect this weekend—sending the stock market crashing.

Summary

Donald Trump announced new tariffs against China, Mexico, and Canada, sparking market turmoil as the measures were set to begin this weekend.

Following the announcement, major indices plunged, with the Dow Jones, NASDAQ, and SP 500 suffering significant losses, reflecting investor anxiety across global markets.

Canada, Mexico, and China vowed retaliatory tariffs, with officials warning that these measures could escalate trade conflicts and significantly harm economic stability.

Critics argue the tariffs will harm consumers and businesses, creating global trade uncertainty and risking prolonged economic challenges in the United States.

Progressive Politics @lemmy.world

TokenBoomer @lemmy.world

4d ago

Stock Market Plummets as Trump Announces New Tariff War

newrepublic.com /post/191018/stock-market-plummets-trump-tariffs

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115 comments

The listed indices dropped an amount within the standard range that they regularly fluctuate. The dow is still up from where it was on january 1st. The same can be said for nasdaq and the s&p. Stocks are continuing to trend upward unabated, but they do wiggle as they do so.
Don't ever trust the news when they say the market "plummets." They use that term incredibly misleadingly. The lines on the charts wiggle constantly. When something bad happens some hack news sites will find a minor downward wiggle near the same time and they'll claim causation and pretend that something significant happened to the markets, to drive clicks to their website.
The fact that most of the comments are taking the headline at face value is not a good sign.
- plummets
  
  The post was about the futures which are down a whopping 1.6%
  So yeah, market might open at the same price it did last week.
  
  I can't believe it dropped 20% over.... ooops I had the chart upside down my mistake

Could this finally be the term that Trump speedruns the economy crash so the Republicans can be properly blamed for it happening due to their policies and leadership, rather than the Dems always inheriting a timebomb and wasting a whole ass term fixing it?
- Trump is already running with the line that the helicopter/plane collision was somehow Biden's fault, even though Trump and "Justin Hammer" fucked with the FAA. That's probably why they are speedrunning this collapse, they want to claim they inherited a mess, and shift blame for the consequences of their actions.
  
  Which is one of two reasons why they keep screeching this "DEI Hires did 9/11!" nonsense
  It's the only card they have for claiming Biden is responsible for Trump's blunders
  It's to manufacture consent for Trump's plan to repeal the Civil Rights Act "in the interest of public safety"
- Just to be clear that's not what happened this last time. Biden deliberately took away all of the covid provisions that were holding the economy up. And while the inflation wasn't directly caused by the government at the time, democrats did nothing about it except wait for studies to come out showing it was price gouging so they could say it wasn't their fault.

Here are some numbers to consider.
The US sold $441 billion worth of goods and services to Canada in 2024.
Canada sold $482 billion worth of goods and services to the US in 2024.
The US has a populating of 334.9 million people.
Canada has a population of 40.1 million people.
Per capita, every American man, woman, and child spent $1,316.81 on Canadian goods and services.
Candians spent $12,019. 95 on American good and services.
Who isn't pulling their weight in this trading relationship?
This isn't about illegal immigration and it isn't about the 20 lbs of fentanyl that tried to cross the border from Canada.
This is about the billionaire class raising taxes on the poor and raising prices for Americans.

https://m.facebook.com/story.php?story_fbid=2069436850145993
50 States, 50 Protests, 1day
Feb 5 @ your downtown.
- On Facebook…really?!!
  
  it's also on not Facebook
  
  Bro do you think a protest is going to happen by posting it on lemmy
  
  That's where the sleeping sheep are at so yeah unfortunately.
- Looks like the link was taken down...
  
  It opened for me.

Donald Trump is such a fucking loser. An absolute grifter and would be better in the ground than breathing.
Fuck Donald Trump and his band of loser magas.
- I wholeheartedly agree. I'd say he'd make good worm food but the orange ass makeup his nonce ass wears would be hazardous

If you are a non-Trump voter in a red state, especially if you work for the flagship company or industry in that state, I would like to apologize on behalf of all Canadians for what our government is about to do. We don't want to do it but it is the only way to deal with a bully.
- I would like to apologize on behalf of all Canadians for what our government is about to do.
  Awfully nice of you Canadians to apologize in advance for defending yourselves - eh?
  
  It's what we do. We understand that most Americans didn't vote for him and that those who did don't understand tariffs or just how much the damage that he and the billionaires are doing to the government is going to hurt regular Americans, including his base, for decades to come. It sucks but here we are.
- We don’t want to do it but it is the only way to deal with a bully. I think tariffs are bad for the people of the country that levies them. If another country puts a tariff on things my country sells, I'm for unilaterally disarming. Let the other country's people enjoy the dubious industry-protecting benefits of that tax, and let us enjoy the benefits of buying whatever is a good deal.
  I think it's nonsense to think that when people freely trade money for goods, the person receiving the money "wins" and the person receiving the goods "loses". They made the trade because it was good for both parties.
  I'm American, and we're pursing the opposite of what I think is good policy.

Critics argue the tariffs will harm consumers and businesses, creating global trade uncertainty and risking prolonged economic challenges in the United States.
God damn it media, can't we just call a fucking spade a spade. Anyone with a fucking functional brain knows these tariffs will harm consumers and businesses. "Critics," my ass. Informed people, more like.
It's this kind of shit that allowed us to get here to begin with, an unwillingness to just say the painful, obvious truth and speak it to power.
- It will harm consumers and small businesses way more than it will harm the big corporations. And that's exactly the goal: consolidate the government by crippling their biggest enemy in the middle-class. It's how fascism operates: make sure only your supporters survive.
  
  The big corporations already planned their loopholes into the order. For them, this helps them consolidate power by driving smaller businesses out, or to where they're forced to sell.
  Hanlon's Razor does not apply to this administration. It is malice. They know exactly what they're doing.
  
  I really think this is wrong. These moves arguably harm large business even more than small ones because the complex supply chains that go into most large corporations' goods are getting totally fucked by these tarrifs and the supplier agreements locking them probably more often than not do not give them a clear out for situations where the dumbest motherfuckers in the country elected their chief dumb motherfucker into the highest seat.
  Regardless, the ones most hurt by this are consumers, and especially those without the means and/or ability accommodate this fuckery.
- There are lots of good opinion pieces out there that satisfy your needs in that regard, but at its core, journalism should just be taking sources and presenting it in a way that people can read easily. Newspapers usually dont claim anything themselves, they just repeat claims made by other people. Thats not a bad thing, thats just how this works.
  
  It is a bad thing to platform viewpoints that are incorrect or that shouldn't be spread
  
  Journalism should be, but does not currently. Newspapers usually, as in decades ago, but do not currently.

If you're protesting soon, go here for a safe communication app: https://briarproject.org/

We need to seriously start planning states breaking up from the federal government.
- California already got the ball rolling
  
  If the don't plan on seizing nukes then they'll end up like Ukraine....
- Ah yeah, great plan, let's fracture the empire while major corporations look on like vultures circling a corpse.
  The sad truth is that without a strong, united US government, corporations are going to sieze complete control of any offshoots.
  
  Have you not been paying attention? Corporations already run this country.

Tariffs are the opposite of a "free market" measure and absolutely choke an interconnected economy. Look at the damage done to Cuba or North Korea by sanctions, it's the same principle. Getting to the real meat of why this is happening is like a forensic case study. Doesn't even benefit Trump unless he basically immediately reverses it and gives the old "see they capitulated to my demands" based on whatever random thing he dredges up.
- It helps folks who are positioned to buy the dip.
  
  As long as the stock/asset/etc. actually goes back up, yeah. And yeah, you can short a decline as well.
  
  Just another opportunity for the oligarchs to buy more of our country at a discount!

I'm looking at both the dow and the nasdaq, and they look fine. Where is this "plummet" the article is referring to? Not that I think the tariffs are good, but let's be truthful.
- 0.01% drop = plummet
  0.01% rise = soar
  It's the law of finance headline writing
- Right? -0.5% yesterday, -1.0% for the week. Totally normal and not deserving of any kind of adjective.
  Certainly not saying Lady Trump's actions won't kill the stock market, but this ain't it yet.
  
  Press: ryrybang slams New Republic article!
- Not exactly what I would classify as a plummet, but we were seeing green numbers for the day and then they subsequently turned down once this was announced.
  Still too early to say whether we're going to be looking at any form of sharp downturn.
- Starting just after 11 AM EST, the S&P went down over 1%. It's not a steep plunge; that kind of swing happened on Monday for AI, too, IIRC.
- Not sure what the article is talking about. I'm sure once tariffs are announced it will drop tho. But that's a problem for monday.
- What do you mean? It did fall and the article links to each respective stock. As of writing this comment, DJI fell 337 points, NASDAQ fell 54, S&P 500 fell 30 points.
  They are being truthful.
  
  Going down less than one percent is the opposite of a 'plummet.' It is literally indistinguishable from a normal daily fluctuation.
  Furthermore, the market has overall gone up since.
  
  DJIA shorts are up 347% seems a lot of people are leaning towards a downside
- Right. The S and P 500 went down 0.5% yesterday, it's a pretty typical trading day and still up over the last five days, month, six months and the year.
  Trumps a lunatic, but one thing he does understand is business.
  
  Trumps a lunatic, but one thing he does understand is business.
  This is mostly a branding thing, he's not actually particularly good at running businesses.
  I'll give him that he's somewhat of an expert in avoiding any form of accountability.
  
  Numerous failed businesses and bankruptcies beg to differ.
  What Trump understands is marketing. A stupid enough audience, tell them lies with enough confidence, and they will let Trump fleece them like sheep.
  
  Mother fucker bankrupted a casino. He knows absolutely nothing about business.
  
  He seems to understand shell companies, tax avoidance, cheating your contractors, and strategic bankruptcy. He understands shilling for sponsors buying and selling favors, fleecing the rubes. I guess those are business strategies but there’s no evidence he understands ethical business.
- Hold on now, that was a NASDAQ loss of nearly 0.75%. If the Americans do that 134 times in a row, all their money will be gone! How would they buy their eggs? /s
  
  (1 - 0.0075)^134 ≈ 36.5%

And yet he is left alone to do it all. The world has truly given up on itself when such obvious shit is allowed to run unchecked.

Are egg prices plummeting?
- Where are all of the "I'm worried about the economy" voters at? Come on be loud and proud!

It didn't "plummet" lol its less than a 1% change
- Markets have been closed since Friday. Come Monday, we’ll see what’s what.
- Literally this, it's hard to take this messaging seriously with these kind of declarations
- But we only have 99 left!
  
  99 to go!
- It hasn't even begun to drop, LOL. Wait a couple of days.
- If bitcoin/crypto is anything to go off of, that's down 10% +. Come Monday the market will probably be a sea of red
- Lololololololololol, fixing worthless Trumper pretending it's not a big drop because percentages
  
  It's dropped to where it was on Thursday. We've had 4 bigger drops in the last month and it's still up compared to where it was a month ago.
  
  I didnt say it wasnt a drop. I just am pointing out that it's not really a "plummet"
  And I'm the opposite if a trumper lol

One of the funniest things I read was a WSJ article on tariffs, in the comment section. Along with a lot of copium about how they, personally, don't buy such items, some dumbass bitching that WSJ - that's right, the Wall Street Journal - is showing their bias against donvict.
https://archive.is/wbet5
The ONLY gloom and doom articles I saw in WSJ during Biden's high inflation term were in the opinion section. Your bias is clearly showing ...
Apparently, reporting on items likely to be affected by the donvict taxes on goods is "bias". That WSJ, always known for their extremist progressive WOKE agenda and their "TDS". LOL

Yea! That's the way Republicans and Trump support the economy!
I wonder if we outsiders have to rebuild the American economy with foreign aid and a new Marshall plan in 2029...
- I hope so, for the love of God please.. America cannot be left to its own devices, Americans will die if that happens.

MAGA must be beside themselves with all this…. winning.

Is this owning the libs, or does that come with the biggest economic crash in our lives for a third time?

The best stock market.

And hedge funds keep betting against the fucking economy. 401ks, savings, and pensions will all be effected. They want to steal your money.
- All I hope is that Americans grow the balls for a general strike.
  There were plans for May 1st 2028 since three major unions are renegotiating at that time.
  I'm not sure it can wait four years.
  
  Trump or someone exactly like him will be re-elected in 4 years.

https://youtu.be/lsO_SlA7E8k

'Significant losses' being 30 points?
- Yeah these people know jack shit about market variations.

This tariff war inside north America is unprecedented since 1945. We will need more Data to evaluate consequences and clearly distinguish random market fluctuations from real consequences; remind me in 10 days/months/years. Capital flows might still strengthen the Dollar in the short term, as countries who depend on exporting commodities (namely oil/coal/wood) into the US will attempt to lower prices to compete with domestic US producers …

NGL it'd be cool if VYM dropped to $77 again, I'd like to buy into more of that.
Right now it's worth $132 even though the dividends get adjusted down to if the stock was worth roughly $100.

The premise of this article is that the market is a great oracle that reveals truth. Fucking liberals.
- random short-term daily market fluctuation vs. long term data?
  People who want to predict the future based on random fluctuation: Impossible;

115 comments