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.

  • thedruid@lemmy.world
    7·
    4 days ago

    It DOES have that 2008 "we know it’s gonna be bad but we’re waiting to see just HOW bad’ vibe out there, doesn’t it?

    • qprimed@lemmy.mlEnglish
      9·
      4 days ago

      2008 at least had the feeling that unified executive and congressional action was possible regardless of universal agreement. I have serious doubts that enough republicans will act in contravention of trump. we are in mad king territory.

      we are quickly running out of runway and its still engines on full power and flaps at zero degrees.

      • MehBlah@lemmy.worldEnglish
        6·
        4 days ago

        I didn’t have that feeling. After all bush and later Obama didn’t push for any of those responsible to face any repercussions.

        • qprimed@lemmy.mlEnglish
          3·
          4 days ago

          to save the economy for the privileged and retain extractive opportunities from the rest of us, there was going to be something stabilizing done. I dont get that feeling now.

          the ones responsible for 2008 were the beneficiaries of the bailouts and continued wealth extraction - aside from feeding on the rotting carcass of Lehman Brothers, of course no one but the public paid any real price. the owners of the country wont punish themselves.