Summary
U.S. stocks suffered a historic collapse as Trump’s sweeping tariffs triggered panic over inflation and recession. The Dow fell 2,231 points, the S&P 500 dropped 6%, and the Nasdaq entered a bear market.
Fed Chair Jerome Powell warned the 10% import tariffs and retaliatory moves from China, including a 34% tariff on U.S. goods, will hurt growth and raise prices.
Economists cut U.S. growth forecasts below 1%, projecting households could face $1,900 in added costs.
The sell-off erased $2.7 trillion in value and marked the worst two-day market drop since March 2020.
The 8 largest Dow Jones drops in American history:
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Trump, 3/16/20 −2,997
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Trump, 3/12/20 −2,352
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Trump, 4/4/25 −2,231
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Trump, 3/9/20 −2,013
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Trump, 6/11/20 −1,861
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Trump, 4/3/25 −1,679
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Trump, 3/11/20 −1,464
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Trump, 3/18/20 −1,338
I feel like using percentages would be more meaningful. The Dow Jones peaked at 381 just before crashing in 1929. So using absolute numbers can’t be compared because the entire DJ wasn’t worth the drops we are seeing today.
I in 1929 it lost~10-12% on its worst days
So far Trump is losing ~5% approx each day
It’s not exactly a stellar endorsement. I’m only saying that you are comparing things at today’s dollar value, when the value of currency changes over time.
This Wikipedia page shows that the worst days by percentage are not where we are yet.
However… Rank, President (AFFILIATION), date, DJ, Point loss, %loss
1 Reagan ®, 1987-10-19, 1738.74, −508.00, −22.61%
2 Trump ®, 2020-03-16, 20188.52, −2997.10, −12.93%
3 Hoover ®, 1929-10-28, 260.64, −38.33, −12.82%
4 Hoover ®, 1929-10-29, 230.07, −30.57, −11.73%
5 Trump ®, 2020-03-12, 21200.62, −2352.60, −9.99%
6 Hoover ®, 1929-11-06, 232.13, −25.55, −9.92%
7 McKinley ®, 1899-12-18, 58.27, −5.57, −8.72%
8 Hoover ®, 1932-08-12, 63.11, −5.79, −8.40%
9 T. Roosevelt ®, 1907-03-14, 76.23, −6.89, −8.29%
10 Reagan ®, 1987-10-26, 1793.93, −156.83 , −8.04 %
All republicans. I note that the biggest daily gains were also republicans but most of them are related to the big drops e.g a day, week or month later, so they basically tank the index then the index recovers some time later.
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For reference, because I had to check, the drop that lead to the great depression was a 13% loss on Black Monday. Black Tuesday saw a 12% loss. This continued until it lost 89% of it’s total value. Today’s loss was 5.5%. Certainly a warning sign when you consider that the loss trend lasted from October 28th 1929 to the summer of 1932…
That is until you consider the total lost since inauguration day, which is one third to half the US GDP…
The Fed won’t ever allow it to get as bad as the Great Depression again. Economic knowledge and monetary policy has greatly evolved since then.
The Great Recession is a more recent and likely scenario.
Umm… hasn’t trump basically removed everything at the federal level that isn’t blindly hanging on his word?
If trump just keeps ordering “hold tight, the turnaround is just around the corner”, what can they do to stop the collapse.
I have… I have very bad news for you.
You might think you do, but the stock market is wholly price controlled. Even the Great Recession will never happen again. The market is controlled by huge banks and hedge funds using HFT algorithms and dark pools. Price means nothing and big drops are in any case performative.
The following weeks will demonstrate this, as the bounce(s) will take back the great majority of the perceived losses. Behind the scenes, of course, these same institutions love being given the opportunity to display this performative disapproval, as they make untold fortunes using the stock market as their own personal pump and dump.
Unfortunately, I am of the same opinion. I think the only chance we have is a giant solar storm that fries all of the circuitry on earth.
Why wait for that? You could collapse it all by getting 100 people, some with bot farms, to spam right now how much everyone is losing and they can’t retire anymore and manipulate them to feel like they need to rush DC and whatever other targets you want. This is what Trump did on J6 but instead of facts he already had their peebrain fee fees by the balls.
Trump is a symptom. The problem is billionaires. In your scenario, the billionaires are still billionaires.
No because in my scenario the first thing you do after stringing up orangillini is to hold every suit accountable for all of this. Private Equity has massive, stained hands in this. Then desolve Citizens United and write into law that only breathing organic humans can donate, and at a capped amount total, not per individual.
This shit show is no joke, but I can’t stop laughing. Every day. It’s all just so unbelievably (yet somehow easily predicted as well) stupid.
I sold all my stock in my 401k and bought bonds. Fidelity then started bitching that my portfolio was too conservative. Fuck you fidelity. I’m up .5% just this friday
It’s weird we base so much on a rigged game.
It hurts the most to the ones in this game. And another wave of under the bridge campers.
Just because you can’t win at a game doesn’t mean it’s rigged.
Hey look everybody, I found the temporarily embarrassed billionaire!
Don’t stop believin’, king.
Nope, it being rigged at many levels makes it rigged.
Winning at the cost of what?
At the cost of money. You need some to make some.
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