Summary
Markets tumbled after Trump’s sweeping tariff announcement, with S&P 500 futures dropping 3.5%, Nasdaq 100 down over 4.3%, and Dow futures falling 1,000 points.
Analysts called the tariffs “worse than the worst case scenario.” Major companies like Apple, Amazon, and Nike saw stock declines up to 7%.
Retailers reliant on imports, like Five Below and Dollar Tree, plunged more than 11%.
Goldman Sachs warned tariffs could raise foreign car prices by $15,000. Treasury Secretary Scott Bessent dismissed after-hours moves, blaming volatility over policy concerns.
Correct, although when you tax everyone you ultimately just created a sales tax which is what the right has wanted all along since it impacts the poor the most. Hell, the fact that Five Below and Dollar Tree are impacted most make it even more obvious it’s a tax on the poor.
They have no interest bringing back jobs, but man does it work well as a smokescreen for their base.