this post was submitted on 10 Mar 2025
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Economics

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S&P 500 tumbles most since 2022 as Wall Street questions how much pain for economy Trump will accept (apnews.com)
submitted 1 month ago* (last edited 1 month ago) by [email protected] to c/[email protected]
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Summary

The S&P 500 fell nearly 3% Monday, marking its worst day since 2022 as concerns grow over Trump’s willingness to endure economic pain to push his tariff agenda. The Dow dropped 929 points, and the Nasdaq plunged 4.2%.

Market volatility has surged, with the S&P 500 down nearly 9% from its February high.

Big Tech stocks like Nvidia and Tesla have been hit hard, while investors shift to safer assets like Treasury bonds.

Goldman Sachs lowered its 2025 GDP forecast, citing tariff concerns and increased recession risks.

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[–] [email protected] 5 points 1 month ago

Trump says he wants to bring manufacturing jobs back to the United States, among other reasons he’s given for tariffs.

Oh so he admits his tariffs are illegal. Because tariffs are only legally levied by congress except as a wartime emergency.

So whoever is actually implementing the tariffs should just ignore the illegal order.