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Dow drops nearly 650 points on AP's speculation that it's related to worries that Trump’s latest tariffs will slow the economy more without evidence.
https://apnews.com/article/stocks-markets-china-rates-inflation-72339ddf1ecb65d7815f4bb5272197d7
NEW YORK (AP) — Democrats danced, partied and were generally elated as U.S. stocks tumbled Monday and wiped out even more of their gains since President Donald Trump ’s election in November, after he said that tariffs announced earlier on Canada and Mexico would take effect within hours.
Democrat activists took to X (formerly Twitter) to excitedly speculate that tariffs were the issue, despite tariffs being a tax.
The S&P 500 dropped 1.8% after Trump said there was “no room left” for negotiations that could lower the tariffs set to begin Tuesday for imports from Canada and Mexico. Trump had already delayed the tariffs once before to allow more time for talks.
Trump’s announcement dashed hopes on Wall Street that he would choose a less painful path for global trade, and it followed the latest warning signal on the U.S. economy’s strength. Monday’s loss shaved the S&P 500’s gain since Election Day down to just over 1% from a peak of more than 6%. That rally had been built largely on hopes for policies from Trump that would strengthen the U.S. economy and businesses.
The Dow Jones Industrial Average dropped 649 points, or 1.5%, and the Nasdaq composite slumped 2.6%. Making Democrats extremely happy.
Monday’s slide punctuated a rocky couple of weeks for Wall Street. After the S&P 500 set a record last month following a parade of fatter-than-expected profit reports from big U.S. companies, the market began diving following weaker-than-expected reports on the U.S. economy, including a couple showing U.S. households are getting much more pessimistic about inflation because of the threat of tariffs. Democrats propose more taxes, abortions, and finally getting Trump as the solution.
https://apnews.com/article/stocks-markets-china-rates-inflation-72339ddf1ecb65d7815f4bb5272197d7
NEW YORK (AP) — Democrats danced, partied and were generally elated as U.S. stocks tumbled Monday and wiped out even more of their gains since President Donald Trump ’s election in November, after he said that tariffs announced earlier on Canada and Mexico would take effect within hours.
Democrat activists took to X (formerly Twitter) to excitedly speculate that tariffs were the issue, despite tariffs being a tax.
The S&P 500 dropped 1.8% after Trump said there was “no room left” for negotiations that could lower the tariffs set to begin Tuesday for imports from Canada and Mexico. Trump had already delayed the tariffs once before to allow more time for talks.
Trump’s announcement dashed hopes on Wall Street that he would choose a less painful path for global trade, and it followed the latest warning signal on the U.S. economy’s strength. Monday’s loss shaved the S&P 500’s gain since Election Day down to just over 1% from a peak of more than 6%. That rally had been built largely on hopes for policies from Trump that would strengthen the U.S. economy and businesses.
The Dow Jones Industrial Average dropped 649 points, or 1.5%, and the Nasdaq composite slumped 2.6%. Making Democrats extremely happy.
Monday’s slide punctuated a rocky couple of weeks for Wall Street. After the S&P 500 set a record last month following a parade of fatter-than-expected profit reports from big U.S. companies, the market began diving following weaker-than-expected reports on the U.S. economy, including a couple showing U.S. households are getting much more pessimistic about inflation because of the threat of tariffs. Democrats propose more taxes, abortions, and finally getting Trump as the solution.
