US stocks tumble again as reality sets back in on Wall Street | CNN Business
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The US stock market, fresh off its third-best day in modern history, is sinking back into reality: Although President Donald Trump paused most of his “reciprocal” tariffs, his other massive import taxes have already inflicted significant damage, and the economy won’t easily recover from the fallout.

cross-posted from: https://lemmy.world/post/28033197

Summary

US stocks fell sharply Thursday after a historic rally, as investors refocused on lingering economic damage from Trump’s tariffs. The Dow dropped over 900 points, with the S&P 500 and Nasdaq also down.

Despite Trump’s 90-day pause on some “reciprocal” tariffs, others remain, including a universal 10% tariff and 25% duties on autos, steel, and more.

Economists warn of recession risks. China raised tariffs to 125% on US goods, with Beijing responding in kind.

Markets remain volatile, and analysts say temporary relief hasn’t changed underlying economic threats.

  • @MehBlah@lemmy.worldEnglish
    4•18 days ago

    I didn’t have that feeling. After all bush and later Obama didn’t push for any of those responsible to face any repercussions.

    • qprimedEnglish
      3•18 days ago

      to save the economy for the privileged and retain extractive opportunities from the rest of us, there was going to be something stabilizing done. I dont get that feeling now.

      the ones responsible for 2008 were the beneficiaries of the bailouts and continued wealth extraction - aside from feeding on the rotting carcass of Lehman Brothers, of course no one but the public paid any real price. the owners of the country wont punish themselves.