this post was submitted on 13 Mar 2025
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Wall Street tumbles 10% below its record for first 'correction' since 2023 on Trump's trade war (apnews.com)
submitted 10 months ago by MicroWave@lemmy.world to c/economics@lemmy.world
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Summary

Wall Street entered a "correction" as the S&P 500 fell over 10% from its recent record, driven by Trump’s escalating trade war.

On Thursday, the Dow dropped 537 points (1.3%), the Nasdaq fell 2%, and the S&P 500 lost 1.4%.

Trump’s threat of 200% tariffs on European wine in retaliation for EU whiskey tariffs fueled market uncertainty.

While inflation and job market reports showed resilience, fears of economic stagnation persist. Investors remain concerned about the long-term effects of tariffs and volatile trade policies.

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[–] electricyarn@lemmy.world 30 points 10 months ago

The job report at the end of this month is going to cause another correction.

[–] RememberTheApollo_@lemmy.world 19 points 10 months ago (2 children)

“Correction”

I wonder how long they’ll keep calling it a correction. Full recession? Depression?

[–] scroll_responsibly@lemmy.sdf.org 6 points 10 months ago* (last edited 10 months ago) (1 children)

Maybe I’m mistaken but I thought “correction” is a term used for the market while “recession” and “depression” are terms used to describe sustained negative GDP growth?

[–] RememberTheApollo_@lemmy.world 4 points 10 months ago

Yes. However, my sarcastic statement is that they would continue to call it a correction even after economic collapse.

[–] VeryVito@lemmy.ml 2 points 10 months ago

Inversion?

[–] The_v@lemmy.world 6 points 10 months ago (1 children)

I am doing my part.

In the past two weeks I have sold off 95% of my stocks.

I even transferred an old jobs 401K into a rollover IRA so I could sell off all those stocks as well.

[–] wise_pancake@lemmy.ca 4 points 10 months ago (1 children)

What are you planning to hold instead?

My stocks are definitely taking a beating, it is not fun.

[–] The_v@lemmy.world 1 points 10 months ago

Money markets have been running around 4% APR. CD's etc are close to the same.

Commodities tend to also go up as money moves away from stocks.