US stocks, dollar tumble as Trump’s trade war rattles Wall Street | CNN Business
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The US stock market tumbled deeply into the red on Thursday as the White House clarified its plan for a massive 145% tariff on China, escalating a trade war.

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.

  • qprimed@lemmy.mlEnglish
    7·
    4 months ago

    I am so sorry. I have kids that are now trapped in this absolute dumpster fire of a country we have crafted. we need a different way, and getting there may be supremely painful.

    I wish I had more to offer than “dont give up”, but its basically what I tell my kids. soon enough the prior failures will be dead and its your job to make sure your contemporary failures never get anywhere near the leavers of power.