Roughly $11.1 trillion has been wiped away from the U.S. stock market since Jan. 17, the Friday before President Donald Trump took the oath of office and began his second term, according to data from Dow Jones Market Data.

Some $6.6 trillion of that figure was lost on Thursday and Friday alone — the largest two-day wipeout of shareholder value on record, Dow Jones data showed.

  • in4apenny@lemmy.dbzer0.com
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    25 days ago

    Wow, $11 trillion is a lot. Really puts the $36 trillion sitting liquid in offshore tax havens into perspective (yet seems to be missing from every conversation about money.)

  • wanderwisley@lemm.ee
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    24 days ago

    I’m 41 years old, I’ll be 42 in a few weeks, I’m getting really tired of living through these “once in a lifetime events” every 24-48hrs.

    • grrgyle@slrpnk.net
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      24 days ago

      Total sidebar: You should re-read The Hitchhiker’s Guide to the Galaxy when you turn 42!

      That’s what I did. Now I’ll never forget the last time I read the series.

      • grrgyle@slrpnk.net
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        24 days ago

        Yeppp. Also makes me really distrust mainstream economists, because somehow these crashes always come as a surprise.

        Like what we’re doing is not working. We need to try something else

        • green@feddit.nl
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          23 days ago

          You assume that educated people are making the final decision, when that has not been the case in at least 60 years.

          Economists can scream from the roof-tops that the wealth-gap is harmful (they have), that ignoring science is regressive (they have), and that tariffs are fucking stupid (they have). But if the people in power (i.e CEO, Lobbyists, President) simply ignore them and do stupid shit anyway, it’s all pointless.

          Moral of the story, this is not on the economists. This is on the stupid being in positions of power and the ignorant masses not holding them accountable.

        • 9thDragon@lemmy.world
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          23 days ago

          Mainstream economists have been predicting this for nearly a year. It’s a surprise to almost no one.

          • grrgyle@slrpnk.net
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            23 days ago

            Oh i guess that’s true. I’m not sure what my point was. I guess political/party economists? But maybe they’re not informed by actual economists.

            It seems like there is a disconnect between what I hear politicians talking about vis what the journals say

            • null_dot@lemmy.dbzer0.com
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              23 days ago

              Trump doesn’t have a team of reputable economists guiding his policies.

              He’s just making decisions based on the vibe.

        • AreaKode@lemmy.world
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          23 days ago

          What tells you that this isn’t working? Seems to be working as intended. You mis-assumed that this administration gives a flying fuck about anyone worth less than $1 billion.

        • spidermanchild@sh.itjust.works
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          23 days ago

          What does this have to do with any economist? Are they supposed to be able to predict a cheeto imposing absurd global tarriffs? “Once in a lifetime” is just an expression the media likes to use.

          • grrgyle@slrpnk.net
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            23 days ago

            Sorry I topic drifted a bit. I wasn’t actually thinking of that. I was under the impression that things were going very poorly even before tariffs.

  • 0x01@lemmy.ml
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    25 days ago

    Curious how does that stack up historically with the largest drops in history percentage-wise?

    I checked out the investopedia article:

    • The Dow had its sixth-worst week of the 21st century; it fell 7.9% over the week and 9.3% in the last two days.
    • The Dow shed 2,231 points on Friday, its third-largest one-day point decline on record.
    • The Nasdaq Composite has dropped 11.4% since Trump’s tariff announcement, also its worst 2-day stretch since March 2020.
  • Gxost@lemmy.world
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    25 days ago

    Now I know why Trump, during his rally, said people would ask him to stop winning.

  • NovaOG@lemm.ee
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    24 days ago

    We’re entering Once in a Lifetime Recession #5. Buckle up folks. The feds up shits creek and has been since COVID, so no cash bailouts are coming anytime soon. This should be a fun one!

  • kittenzrulz123
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    24 days ago

    Lets hope this leads to Republicans loosing for 60 years like last time :3

  • Shardikprime@lemmy.worldBanned from community
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    24 days ago

    Oh no, billionaires losing unrealized gains, what a shame

    Let’s flip the fuck out about it

      • the_q@lemm.ee
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        24 days ago

        There’s more people who don’t have investments than there are that do. That includes 401k. Welcome to the poor people’s club.

        • TronBronson@lemmy.world
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          24 days ago

          50% of the country has a 401k and like 40% has an IRA… They are not worth much, that is the point the poor people can’t afford to get more poor, the rich people can. they’ve realized theres nothing else their money can buy so their happy to destroy the world out of boredom. And you cheer them on.

          • the_q@lemm.ee
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            23 days ago

            My info was outdated, but where an I cheering it on? Is there some invisible message my reply had that I’m not seeing?

          • hedgehogging_the_bed@lemmy.world
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            24 days ago

            Source that’s not so heavily “invested” in the answer perhaps? I can’t read this ad-ridden garage.

            Is it enough to stay that most Americans stocks are the smallest of their saving vehicles? Most people have the bulk of value in their home not their 401k.

            • TronBronson@lemmy.world
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              24 days ago

              Correct. Which makes sense when you consider home prices have gone up alot in the last 20 years, and an unaware investors portfolio is probably being slowly bled off by covering the mortgage of that house every time we go into a recession which is basically on a 2 year cycle now.

              So yes you are right, and you are so smart and a very good boi. But you are missing the bigger picture of American wealth distribution. Missing out on how jobs are tied to the market, income is needed for investment and selling investments when you lose your job and they are down 50% just shoots most of the country into poverty.

              Surprise its the great depression!

              • hedgehogging_the_bed@lemmy.world
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                24 days ago

                I’m not good and not a boi/boy/guy/whatever, but thanks I guess.

                I was more interested in getting to the fact that everyday American don’t rely on the stock market directly. If you are hurting directly in this downturn, you needed to have less volatile investments to begin with. Americans do have some small direct market investments but they are dwarfed compared to their other stores of value and to the quantity of money in the market from non-consumer level individuals.

                • TronBronson@lemmy.world
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                  23 days ago

                  When you say ‘don’t rely on the stock market directly’ you’re aware of the second and third order effects from a market crash right?

                  The president just crashed the market harder than Covid for no reason, and you’re telling me i need less volatile investments? What investment would that be out of curiosity?

            • kikutwo@lemmy.world
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              23 days ago

              Even the union worker who doesn’t have a Schwab account has their pension invested in the market.

        • phar@lemmy.ml
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          24 days ago

          Even if this were true, are you pretty much saying everyone that had a 401k can f off? Like, what exactly is your point? It’s okay for everyone to suffer?

            • phar@lemmy.ml
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              23 days ago

              My apologies I thought you were the same person from the beginning of the thread, which would have changed the meaning behind what you said.

      • ChillPenguin@lemmy.world
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        24 days ago

        I have parents who are near retirement who voted for trump. Only my dad works and has to support my mom. This upcoming weekend, I’m gonna ask him how his portfolio is looking. If his vote is paying off.

      • Shardikprime@lemmy.worldBanned from community
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        24 days ago

        Dude how many of the 49% of USA citizens who can’t even handle a 1k USD emergency spend have stocks or options

        How many of the 120 million people who have feared for years that they won’t get to enjoy their social security have stocks or options

        Because that’s the regular people

        Are you even reading yourself

        • chatokun@lemmy.dbzer0.com
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          24 days ago

          401ks are invested. People losing their retirement funds. I personally don’t have any because I had to use mine up last time I was between jobs for a year, but many innocent people who aren’t rich and voted against Trump are being hurt as well.

        • phar@lemmy.ml
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          24 days ago

          Millions of people have 401k plans through their employers and have had them for years and are counting on them to live when they retire.

        • stonedtemplepilot@lemmy.world
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          24 days ago

          I’m sorry to tell you but everyone is screwed except the billionairs who will just buy everything for pennies on the dollar. What do you think companies will do when their stocks are crashing? They will lay off more people until they inevitably go belly up and then all of those people are out of jobs. Shit is about to get real.

        • Fredthefishlord
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          24 days ago

          Well over 49% of usa Americans make enough to save a thousand dollars . Many are just that bad at managing money. Part of why pensions are important over 401ks.

          • TronBronson@lemmy.world
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            24 days ago

            buddy 401k contributions come out of your paycheck. you can’t equate one with the other. Most people usually check the box to take taxes and contributions out of their paycheck and don’t consider their retirement account emergency savings.

            the point your missing is it often is. and it usually equates to to stock market losses. So stock market crashes are when the rich make the poor poorer.

            Yet here you poors go cheering on everyones grandma to starve to death. Far left and far right horseshoe death cult assemble.

          • TronBronson@lemmy.world
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            24 days ago

            the deep irony of slashing pensions for 401k claiming that americans could invest better for their own retirement. They are not cheering crashing 401ks and rushing to cut social security like they also have a concept of a plan for retirement.

  • Zier@fedia.io
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    25 days ago

    Let’s see if he can make that number $111 Trillion lost by the end of May 2025.

        • Shardikprime@lemmy.worldBanned from community
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          24 days ago

          Turns out the thing about people not having 500 USD in their accounts was real after all

          People are just realizing that they were not cooked, just merely marinating

      • Mirshe@lemmy.world
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        24 days ago

        No actually. My job doesn’t offer one. Many people either are in the same position where their job doesn’t offer retirement benefits or they’re not paying into it because they need every last cent they can spare.

    • cows_are_underrated@feddit.org
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      24 days ago

      In terms of where the money foes its quite easily. The majority will just evaporate. A lot of people and company’s may shift their invested money to European (or somewhere else) companys whichay rise a bit in value, but the majority of the money is just gone. The value of a company is a mix of how profitable they are and a lot of how much people think a company will be profitable in the future and therefore are investing into it (its like the typical production and demand thing. If more people want to buy something it rises in value).

        • cows_are_underrated@feddit.org
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          24 days ago

          It is like you said. Its artificial value. Its value generated, by how much people are willing to pay for a share of it. And as you rightfully realised, its basically gambling. You can make predictions based on the current trend (what ever trend it may be),but its still gambling.