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Re: President Trump 2.0
https://wapo.st/4chsBdN
Quote:
President Donald Trump’s intensifying trade war sent financial markets reeling as investors, companies and Americans fretted about rising costs from an onslaught of new tariffs.
U.S. stocks closed down sharply Thursday, with the tech-heavy Nasdaq falling close to 6 percent for the day and about 17 percent off its mid-February peak, with Apple, Google and Nvidia all posting big losses. The S&P 500 notched its biggest one-day drop since summer of 2020, closing down 4.8 percent. The Dow Jones Industrial Average fell almost 4 percent. The major indexes in Asia and Europe also took a fall, although some recovered their losses during their trading day.
The wave of new import taxes, which are expected to cost U.S. consumers and businesses billions of dollars this year, threatens to radically alter the economic outlook. Economists on Wall Street and beyond are now warning that a downturn is becoming much more likely this year.
“The level of new tariffs is just absolutely massive,” said Luke Tilley, chief economist at Wilmington Trust, which now puts the odds of a recession at 50 percent, up from 40 percent earlier this week. “There is still so much uncertainty, but if these tariffs stay on for three months, there’ll be a recession — and that will be one of the easier calls I’ve had to make in my 25 years of being an economist.”
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I wonder how long it will be before Trump goes "Full Truss" and starts calling Wall Street, NASDAQ, the S& P 500, & the Dow Jones Index "woke" and "left wing", and accuse them of "looting, pillaging, raping and plundering” the US of A?
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Last edited by Hugh; 03-04-2025 at 22:56.
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