Dow tumbles nearly 900 points, Nasdaq suffers worst day since 2022 as recession fears erupt: Live updates
www.cnbc.com
Stocks dropped as the selling pressures that dragged Wall Street last week persisted, while investors braced for a slew of economic data reports this week.
  • bitjunkie@lemmy.world
    2·
    30 分钟前

    Self-fulfilling prophecy, not that the shortsighted goons who run hedge funds give a flying fuck.

  • Bytemeister@lemmy.worldEnglish
    12·
    2 小时前

    Did trump just set the new speed run for a Republican ruining the economy after a Democrat fixed it?

  • formulaBonk@lemm.eeEnglish
    64·
    20 小时前

    Everyone here mentioning billionaires and missing the point that the Russian agent in charge is just doing his best to deliver any and all assets to Russia. Sanctions getting lifted just as the fire sale on American assets begins right before the civil unrest. If you’re a Russian dictator you could not have planned it better. Republicans are seriously the dumbest mother/sister fuckers on the planet. I can’t even believe how fucking stupid you’d have to be to hold “conservative views”. Like it does not compute how you can be that dumb

    • Revan343@lemmy.ca
      14·
      18 小时前

      Like it does not compute how you can be that dumb

      Easy, lack of education (or even actively detrimental ‘education’), courtesy of decades of Republican sabotage of the education system

  • Dagwood222@lemm.ee
    72·
    22 小时前

    I think he’s doing this deliberately. Encourage people to sell, so his buddies can scoop up stocks at low prices.

    • stopdropandprole@lemmy.world
      18·
      18 小时前

      it’s so much more than stocks. stocks are mostly vibes and short term get rich schemes for already wealthy people. they’re Pokemon cards for the finance class, creating almost nothing tangibly beneficial to society. hype and FUD in an endless cycle.

      you can’t eat stocks. you can’t warm your house with stocks. you can’t manufacture solar panels with stocks.

      real wealth, the serious fuck you Big Money, depends on the ownership and distribution of real resources: real estate, agricultural land, factories, pipelines, commerical buildings, capital infrastructure. these are what the ultra wealthy buy up during recessions and then charge rents and leases for everyone else to pay, forever. forget about owning land or a home, your kids can’t compete with someone paying cash on a 600k house or snatching up entire portfolios of hundreds of rentals in a single purchase.

      bailouts and blank checks given out as PPP loans to “business owners” during Covid redistributed wealth from the taxpayers (government) into the hands of the wealthiest people in the world. they can then convert their Pokemon collections into real wealth generating resources. government bailouts to corporations become an engine for not just making the rich richer but the types of assets they then acquire using that money cements them at the top of the wealth generation food chain forever.

      Trump 2.0 is engineering another massive redistribution, even bigger and more focused on real estate than before. he made his fake reputation on real estate. loyalist oligarchs who bank rolled dark maga will be handsomely rewarded with the newly emptied government office buildings and public lands.

      and your kids and grandkids will be homeless.

    • Magister@lemmy.world
      23·
      21 小时前

      yup, I’d buy apple or microsoft or nvidia because they are going down now but will go up certainly in 1 or 2 days or even weeks/months. Except tesla, this one will go down and down and down for days/weeks/months, tesla stock is super toxic, dump all of it.

      • Dagwood222@lemm.ee
        2·
        6 小时前

        One of the things almost no one talks about is how the prices of luxuries has totally outstripped inflation.

        In 1960, minimum wage was $1.00/hour, the average US home was $11,000.00 and a big night on the town was $20.00 for dinner and a show for two people, with drinks and car fare thrown in. Pizza and beer at home was $1.00. A ticket to the first Super Bowl was under $20.00.

      • sp3ctr4l@lemmy.zipEnglish
        7·
        17 小时前

        This is going to be the second Great Depression.

        It is going to impact the entire world.

        Notable differences from the last Great Depression:

        Many countries have many nuclear weapons.

        Something like 6 billion more people exist.

        Climate change is accelerating, and this will make food more expensive everywhere, as opposed to a regionalized Dust Bowl, as well as causing more frequent and more severe natural disasters basically everywhere… and the more time passes, the more expensive it will be to mitigate this.

        Perhaps also worth noting:

        Japan argued the US’s oil embargo on it as functionally a declaration of economic war.

        History is replete with examples of embargoes and massive tariffs being considered a justification for escalating a trade war… to an actual war.

  • Bruncvik@lemmy.world
    9·
    17 小时前

    From the article:

    “We see some irony in the recent outperformance by foreign markets over the U.S. markets. In our view, foreign companies in Europe, Asia, and Latin America are likely to suffer even more from deployment of tariffs than companies in the U.S.”

    I think they are overestimating the amount of trade flowing into the US. Tariffs will directly impacg US companies and customers, but they’ll also decrease the demand for foreign products. That will cause a challenge, if not outright recession worldwide, but I still think that foreign companies would be able to mitigate the drop in demand from the US better than US companies coping with supply shortages and higher prices.

  • cygnus@lemmy.ca
    21·
    22 小时前

    “Small price to pay to own the libs!” the faithful cry as they slowly eat their daily ration (one egg and a slice of wonder bread)