The tariff-induced market mayhem isn’t over just yet.
US stock futures plunged Sunday evening after two sessions of sell-offs that wiped away over $5.4 trillion in market value. Stocks were set to open sharply lower Monday, putting the S&P 500 on the precipice of a bear market — a decline of 20% from its peak and an ominous sign for investors and perhaps the broader economy.
Dow futures were down 1,250 points, or 3.3%. S&P 500 futures fell 3.7%, while Nasdaq futures tumbled 4.6%. Asian markets tanked: Japan’s Nikkei fell 8% at the open.
The price of US oil fell more than 3%, sinking below $60 a barrel for the first time since April 2021. Oil prices have been in a freefall as investors fear tariffs could plunge the global economy into a recession that would sap demand for flights, shipments, transportation and travel — all activities that require fuel.
Bitcoin joined the declines, too — falling 5.6% to $78,736.93. Bitcoin had surged above $100,000 shortly after Trump was elected in the hopes that he’d help boost support for cryptocurrencies.
Tell that to the people who own it. They might have a few choice words in response. Everything has the value it has because people are willing to pay it. No difference between a Porsche, a simple house, an iPhone, a share of any company, or one bitcoin.
The value of anything is what someone is willing to pay for that thing.
Yeah!! A house only has speculative value! There’s no fundamental value in a house! Just like bitcoin, if you can’t sell your house, it’s worthless!
… .what do you mean, “a place to live in”?
Just because someone buys shit doesn’t make shit valuable.
Yeah, it kind of does.
theres a difference between price and value. the price is what the market is willing to pay. value is what justifies the price. bitcoin has no fundamental value. a house is worth the net present value of all future rents, against maintenance and taxes etc.