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US stock markets see worst day since Covid pandemic after investors shaken by Trump tariffs (www.theguardian.com)

submitted 6 days ago by [email protected] to c/[email protected]

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US stock markets tumbled on Thursday as investors parsed the sweeping change in global trading following Donald Trump’s announcement of a barrage of tariffs on the country’s trading partners.

All three major US stock markets closed down in their worst day since June 2020, during the Covid pandemic. The tech-heavy Nasdaq fell 6%, while the S&P 500 and the Dow dropped 4.8% and 3.9%, respectively. Apple and Nvidia, two of the US’s largest companies by market value, had lost a combined $470bn in value by midday.

Meanwhile, the US dollar hit a six-month low, going down at least 2.2% on Thursday morning compared with other major currencies and oil prices sank on fears of a global slowdown.

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[–] [email protected] 11 points 6 days ago (4 children)

“We are going to start being smart and we’re going to start being very wealthy again,” Trump said.

What a crock of shit.

[–] [email protected] 8 points 6 days ago* (last edited 6 days ago) (1 children)

with hyperinflation we all be millionaires

[–] [email protected] 5 points 6 days ago

We can all be trillionaires when it gets bad enough!

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