Summary
U.S. stocks suffered a historic collapse as Trump’s sweeping tariffs triggered panic over inflation and recession. The Dow fell 2,231 points, the S&P 500 dropped 6%, and the Nasdaq entered a bear market.
Fed Chair Jerome Powell warned the 10% import tariffs and retaliatory moves from China, including a 34% tariff on U.S. goods, will hurt growth and raise prices.
Economists cut U.S. growth forecasts below 1%, projecting households could face $1,900 in added costs.
The sell-off erased $2.7 trillion in value and marked the worst two-day market drop since March 2020.
The 8 largest Dow Jones drops in American history:
-
Trump, 3/16/20 −2,997
-
Trump, 3/12/20 −2,352
-
Trump, 4/4/25 −2,231
-
Trump, 3/9/20 −2,013
-
Trump, 6/11/20 −1,861
-
Trump, 4/3/25 −1,679
-
Trump, 3/11/20 −1,464
-
Trump, 3/18/20 −1,338
I feel like using percentages would be more meaningful. The Dow Jones peaked at 381 just before crashing in 1929. So using absolute numbers can’t be compared because the entire DJ wasn’t worth the drops we are seeing today.
I in 1929 it lost~10-12% on its worst days
So far Trump is losing ~5% approx each day
It’s not exactly a stellar endorsement. I’m only saying that you are comparing things at today’s dollar value, when the value of currency changes over time.
This Wikipedia page shows that the worst days by percentage are not where we are yet.
However… Rank, President (AFFILIATION), date, DJ, Point loss, %loss
1 Reagan ®, 1987-10-19, 1738.74, −508.00, −22.61%
2 Trump ®, 2020-03-16, 20188.52, −2997.10, −12.93%
3 Hoover ®, 1929-10-28, 260.64, −38.33, −12.82%
4 Hoover ®, 1929-10-29, 230.07, −30.57, −11.73%
5 Trump ®, 2020-03-12, 21200.62, −2352.60, −9.99%
6 Hoover ®, 1929-11-06, 232.13, −25.55, −9.92%
7 McKinley ®, 1899-12-18, 58.27, −5.57, −8.72%
8 Hoover ®, 1932-08-12, 63.11, −5.79, −8.40%
9 T. Roosevelt ®, 1907-03-14, 76.23, −6.89, −8.29%
10 Reagan ®, 1987-10-26, 1793.93, −156.83 , −8.04 %
All republicans. I note that the biggest daily gains were also republicans but most of them are related to the big drops e.g a day, week or month later, so they basically tank the index then the index recovers some time later.
Ah, that explains it. Trump is just trying to beat Reagan’s record.
I don’t think it’s possible. Doesn’t trading now stop for the day now if it drops 20%?
Maybe he’ll try and get everybody to trade at a single moment so the trades go over it. Like starting a war.
-
For reference, because I had to check, the drop that lead to the great depression was a 13% loss on Black Monday. Black Tuesday saw a 12% loss. This continued until it lost 89% of it’s total value. Today’s loss was 5.5%. Certainly a warning sign when you consider that the loss trend lasted from October 28th 1929 to the summer of 1932…
That is until you consider the total lost since inauguration day, which is one third to half the US GDP…
The Fed won’t ever allow it to get as bad as the Great Depression again. Economic knowledge and monetary policy has greatly evolved since then.
The Great Recession is a more recent and likely scenario.
Umm… hasn’t trump basically removed everything at the federal level that isn’t blindly hanging on his word?
If trump just keeps ordering “hold tight, the turnaround is just around the corner”, what can they do to stop the collapse.
The fed is not federal despite the name. And the current chair sits until 2026.
https://lemmy.world/post/27038154/15820258
Have a mirror and some reflection, to the times you defended foreign imprisonment without due process based on tattoos.
What the actual fuck. That was not defending anything of the sort. You tried to compare full body and face tattoos to the numbers tattooed on Jewish prisoners at Auschwitz. And took criticism of that dumb statement as a defense of the actions taken by the trump admin. Which it was not.
Then you tried to defend that by lying and saying that there were people tatooed that way there, too.
And now you have the nerve to try and frame it as defending foreign imprisonment because you are a moron who got called out on thier bullshit. So, congrats.
It looks like you wrote multiple sentences which I’m sure someone will read. Someone with the time certainly.
It’s ok, you don’t seem to have the capability that others did.
The way I had my investments structured, I was still getting gains until last week. Think I’m gonna liquidate now and ride out the plunge.
This shit show is no joke, but I can’t stop laughing. Every day. It’s all just so unbelievably (yet somehow easily predicted as well) stupid.
It’s weird we base so much on a rigged game.
It hurts the most to the ones in this game. And another wave of under the bridge campers.
Just because you can’t win at a game doesn’t mean it’s rigged.
Hey look everybody, I found the temporarily embarrassed billionaire!
Don’t stop believin’, king.
Nope, it being rigged at many levels makes it rigged.
Winning at the cost of what?
At the cost of money. You need some to make some.
Actually, if you can’t win at a game then it is by definition a rigged game.
I sold all my stock in my 401k and bought bonds. Fidelity then started bitching that my portfolio was too conservative. Fuck you fidelity. I’m up .5% just this friday
deleted by creator
