Stock Market Tumbles Again; Thanks, Trump!

The magic of the moron madman Malignant Fascist, business genius:

Stocks fell sharply on Wednesday, as a stark warning from Nvidia roiled global tech and concerns from Federal Reserve Chair Jerome Powell about the economic impact of tariffs raised alarm among skittish investors.

The Dow Jones Industrial Average lost nearly 700 points, or 1.7%. The S&P 500 dropped 2.24%, led down by the information technology sector. The Nasdaq Composite pulled back 3.07%, sliding closer to bear market territory.

Shares of Nvidia sank 6.9%, on track for its worst day since January after the chip giant said it will post a $5.5 billion quarterly charge related to exporting its H20 graphics processing units to China and other nations. The company said in a filing that the U.S. government required a license to send chips from the U.S. to China.

The stock was also under pressure after the New York Times reported that President Donald Trump’s administration was taking steps to crack down on Chinese startup DeepSeek, to which Nvidia provides chips.  [snip]

Stocks slid to session lows in afternoon trading after Fed Chair Powell said President Donald Trump’s tariffs could pose a challenge for the central bank. Powell said during a question-and-answer session that levies could drive up inflation in the near-term and are “likely to move us further away from our goals.”

“We may find ourselves in the challenging scenario in which our dual-mandate goals are in tension,” Powell said in prepared remarks before the Economic Club of Chicago. “If that were to occur, we would consider how far the economy is from each goal, and the potentially different time horizons over which those respective gaps would be anticipated to close.”

Financial markets have been rattled since Trump announced levies on many countries earlier this month. While some of those duties were put on hold for 90 days last week, China was excluded from that delay. Trump announced an exemption on tariffs against smartphone and PC imports over the weekend, though he later hinted that this was only temporary.

Since Trump administration first announced its “reciprocal” tariffs on April 2, the S&P 500 and Nasdaq Composite have each dropped more than 7%. The Dow has lost about 6%...

He's a genius, all right:  a genius at making everything he touches die, in this case the healthy economy he inherited from Joe Biden and the Democrats.

Stock Market & Dollar Tumble Again, Rattled By Trump Incompetence

The madman moron Malignant Fascist's flimflam distraction yesterday suggesting he'd somehow come to his nonexistent senses on tariffs was dashed today as the reality set in on the Malignant Fascist's incompetent and irrational actions:

The US stock market tumbled deeply into the red on Thursday as the White House clarified its plan for a massive 145% tariff on China, escalating a trade war.

The Dow, after rising nearly 3,000 points Wednesday, had a volatile day in the red on Thursday. The blue-chip index fell 1,015 points, or 2.5%, pulling back after tumbling as much as 2,100 points midday.

The S&P 500 fell 3.46% and the Nasdaq Composite slid 4.31%. The S&P 500 was coming off its best day since 2008, and the Nasdaq on Wednesday posted its second-best daily gains in history.

The stock market, fresh off its third-best day in modern history, is sinking back into reality: Although President Donald Trump paused most of his “reciprocal” tariffs, his other massive import taxes have already inflicted significant damage, and the economy won’t easily recover from the fallout.  [snip]

The US dollar index, which measures the dollar’s strength against six foreign currencies, tumbled 1.7% Thursday, hitting its lowest level since early October. The dollar has broadly weakened this year, a sign of investors’ concern about the health and stability of the US economy. [snip]

Traders were elated that Trump temporarily rescinded his so-called reciprocal tariffs, which aren’t really reciprocal, for 90 days. Those tariffs placed hefty levies between 11% and 50% on dozens of countries. [snip]

But even after Trump’s about-face, the reality remains stark: Economists said the economic damage is done, and many say there is still an elevated risk of a US and global recession. Stocks are still well below where they were before Trump unveiled his “Liberation Day” tariffs last week, and those large stock market losses, existing tariffs and high degree of uncertainty about American trade policy are enough to sink the economy, they say. 

Trump’s universal 10% tariff that went into effect Saturday remains in place, as do 25% tariffs on auto imports, 25% tariffs on steel and aluminum and 25% tariffs on some goods from Canada and Mexico. Trump also pledged to go forward with additional tariffs on pharmaceuticals, lumber, semiconductors and copper...  (our emphasis)

Our "economically illiterate", psychologically damaged president will continue to destroy decades- old political and economic alliances, businesses big and small, the personal savings of tens of millions of Americans, and whatever goodwill America enjoyed throughout the world.  Can you think of a particular world leader who's benefiting from our isolation, humiliation, and self- immolation, one whose country miraculously managed to avoid any tariffs? 

Americans have been able to observe this uniquely unqualified, dangerous demagogue for at least a decade -- including 4 dystopian years as president -- and still a near- majority of Americans voted to let him back into office, many doubtless knowing just what he was capable of. As it was recently said, "we have the government we deserve."

Trump Caves: Some Tariffs Postponed, But Go Up For China

Moron madman Malignant Fascist continues to pursue his on- again, off- again tariffs, today caving to pressure from Wall Street and his own cult/party to ease up lest the bottom fall completely out:

President Donald Trump backed down from his trade war against the rest of the world Wednesday, at least temporarily, after his April 2 “Liberation Day” announcement tanked financial markets across the globe.

Trump announced on his social media platform that he is reducing tariffs on all countries to 10% for 90 days, rather than the higher rates he had misleadingly described as “reciprocal” tariffs last week. However, he said, China’s exports to the U.S. would now see a 125% tariff.

The stock market rallied at the news, with the Dow Jones Industrial Average up 6% on the day shortly after 2 p.m. Eastern time. It remains 2,000 points below its standing on “Liberation Day,” when Trump announced his massive tariff plan last week.

Trump’s cave came with relatively little warning and mere hours after he, his press secretary and other members of his administration had insisted there would be no pause and no negotiation on tariffs many conservatives had come to tout as a necessary burst of short-term pain to bring manufacturing back to America.

While providing short-term relief to the markets, the decision to back down has provided little guidance to America’s financial and political future. The stated goals of Trump’s tariff strategy ― a revival of manufacturing, a supposed burst of federal government revenue and an effort to reach new deals ― remain contradictory, with few economists willing to endorse his strategies...

"Strategies" is being very charitable.  These clowns are making things up as they go along, getting general direction from someone with the business sense to have bankrupted 6 casinos.

The perpetually credulous Wall Streeters will continue to have hope that the Malignant Fascist will ultimately climb off of his tariff perch, but long- or short-term, the damage to the U.S. and world economy has been, and will continue to be done.  It's the incompetence, chaos, and confusion that he brings that are toxic to business and investors:

President Trump finally realized what the world has known for more than a week: his $4,000 per family tariff taxes are a disaster. Make no mistake: he has simply put this on “pause” for just 90 days so the chaos and confusion will continue with real consequences for our economy.

— Amy Klobuchar (@amyklobuchar.com) April 9, 2025 at 3:07 PM

 

Elect a clown ...

(Image:  are we winning yet? / AP/ Shutterstock)

Trump Stock Market Performance Lags Behind Clinton's, Obama's

Earlier today, we posted about how the rotted- out Republican Party of malicious, puerile moron Donald "Shart of the Deal" Trump was inflicting pain on average Americans while enabling the richest to bleed the economy of wealth.  To forestall any comeback arguments about "Trump's stock market!" this chart provides a quick primer (click to enlarge):



For the roughly half of Americans who aren't invested in the stock market, well, we guess you don't count with the bloated, bragging buffoon who loves to take credit for the economy and stock market that was handed to him on a silver platter by President Obama.

Shocker: Yes, Trump Lied To Juice The Markets

If you're surprised, you're not paying attention.

A few days ago, we posed the question, "did Trump lie to juice the markets?" as his trade war with China was sending the stock market diving?

Well of course he lied:

... Trump flashed signs of optimism this week that the trade war could be resolved, saying he's received calls from Chinese officials saying they wanted to restart talks. Though Trump and Treasury Secretary Steven Mnuchin insisted there had been "communication," aides privately conceded the phone calls Trump described didn't happen they way he said they did.

Instead, two officials said Trump was eager to project optimism that might boost markets, and conflated comments from China's vice premier with direct communication from the Chinese.  (our emphasis)

If any statement offered as "fact" by the pathological liar in the Oval Office is taken at face value, shame on the enabler/ sucker who's taken in.  How many craven lies over how many dystopian years does it take before it dawns on them that we have a deeply disturbed, dangerous lunatic making a shambles of everything?

BONUS:

What this describes is, quite literally, market manipulation that constitutes criminal violations of the Securities Exchange Act of 1934: https://t.co/xiit4yl7xv pic.twitter.com/aVMl9f88Zp

— George Conway (@gtconway3d) August 29, 2019

Tweet Of The Day - "Correction Territory"

BREAKING: Dow plunges 1000 points, entering 'correction' territory https://t.co/brnTVnJNOg

— Ali Velshi (@AliVelshi) February 8, 2018

We will enter the heart of "correction" territory on Tuesday, November 6, 2018.

Pic Of The Day: "The Tax Cuts Are Working!"

The stock market isn't the economy, granted.  But the juxtaposition of Very Stable Genius Trump's big talking point with today's record 1,175 point drop in the Dow Jones Industrial Average (after a 666 point drop on Friday) in the chyron below is delicious nonetheless.

(click on image to enlarge)


(screenshot via ABC News.com)

Ginger Juju!

Did our "Ginger juju" work last week? Well, the stock market finished up again for the second straight week. Keep working that juju, Ginger!