Initial market indications early Wednesday evening were that many investors had expected Trump’s tariffs to be far less expansive.

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.

  • atro_city@fedia.io
    2·
    2 days ago

    I think you underestimate the news cycle and how forgetful people are. If Trump suddenly became friendly, there’d be politicians all over the world “breathing a sigh of relief” and saying “things are back to normal”. They love the status quo.

    • RootAccess@lemmynsfw.comEnglish
      1·
      2 days ago

      I’m not saying you’re wrong, but I’m not the only Canadian teaching my young children how feckless and cowardly Americans are, culturally. “There is nothing I can do” is a punchline.