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.

  • Null User Object@lemmy.world
    60·
    5 days ago

    China raised tariffs to 125% on US goods, with Beijing responding in kind.

    Summary written by AI.

    Edit: For those not seeing it, in this context, Beijing is China. So, China responded to China? That’s the kind of nonsense an AI writes, and that sentence is nowhere to be found in the original article. Hence, “Summary written by AI.”

    • floofloof@lemmy.caOP
      13·
      5 days ago

      It probably means “Responding in kind, China raised tariffs to 125% on US goods.” The name “Beijing” is used to mean the Chinese government. It’s clumsy wording, but not nonsense.

        • Hegar@fedia.io
          12·
          5 days ago

          Yeah but the US put 125% export taxes on Chinese goods, not US goods. Two opposite typos in the same clause is unlikely.

          This is exactly the kind of mistake AI makes - each clause makes sense on its own, but the parts don’t add up to a whole that makes sense, and the facts are just wrong.

      • Null User Object@lemmy.world
        20·
        5 days ago

        No, that’s not clumsy wording. It’s nonsense. Beijing isn’t going to “respond in kind” to China raising tariffs. As you correctly stated, Beijing is China. What if it said, “The United States raised tariffs to ___% on Chinese goods, with Washington DC responding in kind.”? It’s exactly the same nonsense.

        • floofloof@lemmy.caOP
          2·
          5 days ago

          Beijing isn’t going to “respond in kind” to China raising tariffs.

          I read it as meaning Beijing/China will respond in kind to the USA raising tariffs.

          • Null User Object@lemmy.world
            8·
            5 days ago

            China raised tariffs to 125% on US goods

            That’s what Beijing is allegedly responding to in that sentence. There’s no alternative way to interpret it.