- cross-posted to:
- economics@lemmy.world
- cross-posted to:
- economics@lemmy.world
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.
Nah more '29 vibes
Nah. The Hoover administration wasn’t intentionally trying to crash the economy.
Except this time we get the tariffs before the crash.