3d ago

Stock futures plunge after Trump announces ‘Liberation Day’ global tariff agenda

www.independent.co.uk

Summary

U.S. stock futures dropped sharply Wednesday evening after Trump announced sweeping global tariffs, including a 10% baseline on all imports and 25% on autos.

As of 6:30 p.m. ET, Dow futures fell 2.43%, S&P 500 futures 3.60%, and Nasdaq futures 4.46%, contrasting with modest gains earlier in the day.

Trump framed the move as “Liberation Day,” but investors and economists raised alarms.

Goldman Sachs now sees a 35% recession risk, citing falling consumer confidence and the administration’s readiness to endure short-term economic pain to advance its trade agenda.

24 comments

It takes a special kind of stupid to schedule a recession.
- He starts to remind me of Liz Truss, afraid he won't leave office as soon as she did tho
  
  Trump already outlasted the lettuce, unfortunately.
  
  Liz lasted like 2 weeks or something.
  
  I'd rather have the lettuce as president.
- It's obvious that this is exactly what they want to do. The question is why.
  Is this just a great ploy to buy the dip?
  
  Implode the world to bring about Jebus.
  
  And daddy Putin wants it.

Even though I know that I am personally going to feel the pain from this, it does bring me a little bit of satisfaction watching the rich assholes who put Trump in office in exchange for tax cuts losing their net worth because it's all tied to their stock.
Those tax breaks aren't going to matter when they don't have any money.
- The poor people voted for tax cuts for the rich because they might be rich one day.
  Turns out the rich people should've voted for social safety nets because they might be poor one day.
  
  The rich people will buy up these stocks and become even more proportionally wealthy than the poor because of it.
  
  @OutlierBlue @Chainweasel the rich have forgotten they should vote for social safety nets because otherwise the poor have nothing to lose.

The coward scheduled the announcement after markets closed to avoid the split screen showing the effects on the market.

I think they just don't understand that we don't pay the tariffs, the country it's coming from pays the tariffs. Right! Right? Guys...

Goldman Sachs have blinders on. This is gonna hit hard tomorrow
- My only guess is that they remain conservative in their estimates until we start reaching into a second or third quarter of GDP losses.

Liberate deez nuts.

Wasn't it already 35% before today?

24 comments