Trump take 401(k)
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It is slowly dawning on people in denial that Donald Trump really is a huge dumbshit who cannot comprehend the concept of a positive-sum exchange and has his policies implemented by barely post-adolescent incels from the vice president’s group chats:
More pain appears to be in store for markets after their worst week to start a quarter since 2008. Stock futures tumbled out of the gate Sunday night when trading reopened.
Contracts tied to the tech-heavy Nasdaq-100 led the declines, down more than 5%. Bitcoin and oil prices fell, too.
U.S. stocks lost $6.6 trillion in value during a two-day washout after President Trump announced larger tariffs than Wall Street expected and China said it would match the duties on goods it gets from the U.S.
Many traders are betting that further big moves are ahead in stocks. Americans are sitting on more cash with the outlook darkening and recession talk on the rise again. Analysts and portfolio managers are looking for signs that buying the dip is back.
Beyond the ebb and flow of daily trading, investors seeking out possible parallels to the trade war of 2025 are grappling with the lessons of the U.K. decision to leave the European Union.
To recap: Tariffs on just about everything the U.S. imports took effect Saturday and are due to be raised on some countries on Wednesday. U.S. retailers are starting to talk with consumers about what the tariffs could mean for everyone’s wallets.
Which is presumably why the messaging seems to be changing from “Trump will make you all rich!” to “what is money, anyway?”
Yeah, the people who voted for Trump because of the 10% increase in their taxi surf-and-turf are gonna love that.
…is this bad?
5:50 pm PST: Japan’s banking sector in free fall. Complete meltdown across all major financial institutions with 14-17% drops not seen since 2008 financial crisis.— Data Bear (@dataandpolitics.bsky.social) April 6, 2025 at 5:50 PM