this post was submitted on 02 Apr 2025
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Economics

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Investors flee U.S. stocks as markets react sharply to Trump's tariff plan (www.nbcnews.com)
submitted 2 days ago by [email protected] to c/[email protected]
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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.

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[–] [email protected] 65 points 2 days ago (3 children)

Just to be clear. Trump just declared a 10% tariff on the planet Earth not including the United States. Think of a country, any country really, that isn't the United States. Got one? Good, that nation has 10% tariffs on whatever.

There's exceptions for very specific things. But overall, yeah the price of everything is now going up 10%.

Trump just started Trade War II. Like there's no need to guess what the rest of the fucking planet feels about this or what they'll do. It's literally the United States versus every other fucking person on this planet.

We ain't cooked, we're ash. This is literally the end of the world that was built out of the ashes of World War II. There is no coming back from this ever, this is the Rubicon.

[–] [email protected] 20 points 2 days ago

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.

[–] [email protected] 14 points 2 days ago (2 children)

Can I get an F in the chat

[–] BingBong 11 points 2 days ago (1 children)

I had never heard Rubicon used outside of jeeps. Your comment piqued my interest and I learned something. Thank you.

[–] [email protected] 3 points 2 days ago

Alea iacta est