Stock Market Plunges After White House Confirms Tariffs to Begin Saturday

https://www.newsweek.com/stock-market-plunges-trump-tariffs-mexico-canada-china-2024502

48 comments

  1. I’m not religious but I truly believe Trump is the antichrist.

  2. I read that Trump has one week spot and that’s the stock market going down and being blamed on him. So everyone start talking about this and blaming him.

  3. “ By Friday afternoon, the S&P 500 had fallen by 0.5 percent and the Nasdaq composite dropped by 0.4 percent after both had solid gains during morning trading. The Dow Jones Industrial Average did not fare any better, slipping by 0.7 percent.”

    Nobody with a shred of intellectual integrity would call that a “plunge.”

    Oh hi Newsweek. 

  4. I swear he’s going to shit out “people are worried that we’re not cancelling everything Biden and Obama did fast enough, so the stock market went down. It will go back up when we finish cancelling everything, but that will take time, and everybody is okay with that. They’re excited, actually.”

  5. When he said prices were coming down on day 1, I thought he meant eggs not stock prices.

  6. Remember the “Kamala crash” last August, after the Yen carry trade collapsed, that corrected itself in less than a week? All of MAGA was up in arms trending it on twitter. Now nothing. Silence.

  7. It’s all a plan to crash the economy so the oligarchs can purchase everything cheaply. Just watch the unemployment numbers each month. The largest employer in the US is the US, and all of these cuts are going to skyrocket those numbers, tariffs will cause inflation, related industries will be severely hampered if not shut down, and so on. It is going to get incredibly ugly.

  8. I still don’t think the stock market believes Trump. GMs stock bearly moved. If these tariffs go into effect GM will lose 20% of its value Monday. The market will be down 3% and the small caps 5%.

  9. SOMEONE, ANYONE, Please tell me this will also hurt the middle America MAGA trash that votes for Trump and the GOP.

  10. *Checks the market*

    Wow, down 0.5 percent yesterday and up 1.3 percent on the week. That’s quite a plunge.

  11. The economic impact of Trump’s proposed tariffs, based on the analysis from the Tax Foundation and Congressional Budget Office, is expected to be broadly negative. Here’s a breakdown of the key effects:

    1. Higher Costs for Consumers

    The average U.S. household could face an additional $830 in costs per year, acting as a de facto tax increase.

    Prices on consumer goods, particularly those imported from Canada, Mexico, and China, would rise due to increased tariffs.

    2. Slower Economic Growth

    The economy could shrink by 0.4% due to reduced trade and higher production costs.

    Tariffs on Canada and Mexico (25%) and China (10%) would increase costs for businesses reliant on imports, leading to lower investment and potential layoffs.

    3. Job Market Impacts

    While tariffs aim to boost domestic production, they often lead to job losses in industries reliant on trade, such as manufacturing and agriculture.

    The report indicates previous tariffs from both Trump and Biden administrations reduced employment and output overall.

    4. Disproportionate Impact on Lower-Income Households

    The Congressional Budget Office (CBO) found that poorer households would suffer the most, as a larger share of their income goes toward essential goods that would see price increases.

    5. Increased Tax Burden

    The tariffs effectively act as an additional $1.2 trillion tax on U.S. consumers and businesses over the next decade (2025–2034).

    Conclusion: Net Negative Economic Impact

    While the tariffs aim to protect American industries, historical and economic analysis suggests they will instead increase costs, reduce economic output, lower employment, and disproportionately hurt lower-income households. The net effect is likely to dampen economic growth and reduce the purchasing power of U.S. consumers in the short and long term.

  13. Look. I’m staunchly anti-Trump, but this is objectively false.

    The stock market has not “plunged”. It’s down by basically the same amount it “plunged” earlier this week before going back up. Right now, it’s only down slightly from a record high.

  15. It’s more of a dip than a plunge. That indicates that the markets realize that Trump lies constantly, so don’t put much weight on what he says.

  16. They are planning on destroying the US, & world economies to buy up everything they can and remake society into a Christian Techno-fascist dystopia.

    These are the men funding every attack on our society that we’re currently seeing, their plan is to destroy democratic institutions around the world & reshape them into a Techno-fascist dystopia, where they own & control literally every aspect of our lives.

    **They are literally crafting the end of free will.**

    * Peter Thiel,
    * Elon Musk,
    * Brian Armstrong,
    * Marc Andreessen,
    * Ben Horowitz,
    * David Sacks
    * Balaji Srinivasan
    * Curtis Yarvin

    Lets remind them of their own mortality! Repost this list far and wide, so The People know who our enemies are.

    https://m.youtube.com/watch?v=5RpPTRcz1no

  17. I mean, let’s be genuine in our reporting here, it didn’t really *plunge*.

  19. Gonna say something whacky here. It might be time for us, as a country, to go on a spending strike. Spending strikes have caused major social and systemic changes in the past. It may be worth trying one again.

    Trump wants to move from an income tax system to an excise/tariff tax system. He then wants to use those increased taxes to give tax breaks to corporations and the rich. That only works if people buy the more expensive products. Trump isn’t going to be able to fund a giant tax cut for the rich with just the tariffs on food and gas. He needs people to keep buying the same amount that they buy today, just at 10 – 25% increased prices. What happens if we just refuse to buy the tariff-laden products?

    A spending strike may be the only way to get corporate America and the investment class to finally turn on Trump. If it costs them more in revenue than they will make from tax breaks, they’ll start pushing against the direction he’s heading. And since they’ve already bought and sold him, that pressure to back off the tariffs will actually work.

    Buy the essentials, but put off spending on anything else if you can. Sure you can’t avoid buying food, gas and some clothing. However, most of us can delay buying a new car. Delay buying a new phone. Delay upgrading your TV or computer. Delaying your purchase for several months is going to save you a lot of money when these tariffs inevitably get rolled back.

    The GOP has been spouting off about how people need to “stop buying avocado toast”, but they don’t actually mean it. They want us to spend ourselves into the poor house. Maybe we need to show them what it’s like when we DO actually stop being good little consumers.

  21. >By Friday afternoon, the S&P 500 had fallen by 0.5 percent and the Nasdaq composite dropped by 0.4 percent after both had solid gains during morning trading. The Dow Jones Industrial Average did not fare any better, slipping by 0.7 percent.

    Can someone explain to me how a decline of less than one percent means the stock market “plunges”???

    Don’t get me wrong, I fully expect it to plunge (eventually). But I’ve seen this claim all over the media and it doesn’t make any freaking sense.

  22. A 25% tariff is a 25% tax on us consumers.

    Trump is raising our taxes.

    It needs to be framed this way.

  23. By the time they cut SS, everyone’s retirement investments will already be tanked.

  26. Elect a clown, expect a circus. Trump is doing real damage to the US economy and our place in the world. Dark times ahead.

  28. I’m not a legal expert, but it was my impression that, per the Constitution, levying taxes is a power of congress. The President can’t just slap taxes on shit on a whim.

  29. “Plunges”, lol. Dow was down .007%. It’s up for the week and more than 1500 points for the year. I hate trump as much as anyone but this clickbait scare tactic crap is uneccesarry.

  30. If Trump holds true to his pattern he will have already sold any stocks he holds (and alerted his rich buddies). He will tank the market with tariffs as he is doing. When it reaches the bottom he will buy back in as will his rich buddies. After that he will reverse course on the tariffs, ride the rebound and declare himself a genius for having fixed the disaster caused by <insert one of: Obama, DEI, Leftists, Biden>.

  33. Called it.

    Well, the one-percenters funded his campaign, so it’s fitting their stocks and bonds take the hit. Not so great for everyone ~~suckered~~ convinced into putting all their retirement into 401Ks, though.

    Time to start pulling out cash.

  34. I told my husband to buy his new PC last night. We also got basically all larger purchases this last 6 months in anticipation of the shitstorm that’s about to ensue. We are not going to shop nearly as much as we used to with these tariffs.

  35. I really don’t know Trump’s endgame here, but from what I’ve heard, it could be 1) Tariffs 2) squeeze lower and middle class 3) call on Congress to stop the bleeding by eliminating Income tax 4) Profit. It’s a dangerous game he’s playing. Eventually the resistance will unite.

  36. During Trump’s last administration some of the tariff funds collected, (from US companies), went to subsidize Soy and other agricultural companies due to China and other countries ceasing to purchase those commodities from the US. I’m guessing that not all those funds were used for that. Where did the rest go? Where would those funds normally go? Where will the funds go this time? I doubt we will ever see a true accounting.

  37. I hope everyone has their Trump “I did that” stickers ready to go.

  38. Here’s how you know even Republicans think this is bad: FoxNews site is completely ignoring it.

  39. This is one of the reasons we bought a new Honda in December and didn’t hold off till 2025.

  40. Half of one percent is a plunge? Were you alive in early 2020???

  41. Waiting for the folks who told us for months/years that the stock market wasnt the economy to chime in on how things are going. I expect i will see the results at some point in the near future over on the face eating/darwin awards subs regardless though.

  42. That’s great news to the wealthy! They buy while the price is low and hold until market recovers. They did the same during the housing crash in 2008.

  43. I honestly thought Trump’s big money donors would not let Trump impose tariffs. I’m guessing they’re planning on buying a lot of stuff on the cheap when the markets crash.

  45. It’s going to be decades before this country is fixed, if ever. They’re fast tracking 1933 Germany.

  46. The S&P fell half a percent. The Dow dropped one and a half percent.

    Neither of them closed down for the week.

    When trading gets halted for mandated cooling off periods, the stock market is actually crashing.

  47. This is all part of the plan. Nobody in Trump’s orbit is hurt by this in the long run.

  48. So now what? All the billionaires buy up discounted stock Monday morning, then later that day he announces ‘Just kidding!’ and they make a collective trillion dollars?

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