2d ago

Retirees 'stunned' as market turmoil over tariffs shrinks their 401(k)s

www.nbcnews.com

Summary

Americans nearing or entering retirement are alarmed as Trump’s sweeping tariffs trigger stock market turmoil, shrinking 401(k) savings. The Dow dropped over 2,200 points Friday, with the S&P 500 and Nasdaq also falling sharply.

Retirees report losses up to $58,000 and are delaying major purchases. Critics warn the tariffs could spark a global trade war and worsen economic insecurity.

Many retirees fear declining consumer confidence, unstable finances, and a diminished quality of life as their savings evaporate.

News @lemmy.world

return2ozma @lemmy.world

4d ago

Retirees 'stunned' as market turmoil over tariffs shrinks their 401(k)s

www.nbcnews.com /business/business-news/retirees-stunned-market-turmoil-tariffs-shrinks-401ks-rcna199753

A Boring Dystopia @lemmy.world

return2ozma @lemmy.world

4d ago

Retirees 'stunned' as market turmoil over tariffs shrinks their 401(k)s

www.nbcnews.com /business/business-news/retirees-stunned-market-turmoil-tariffs-shrinks-401ks-rcna199753

27 comments

Good. These dumbasses mostly voted for this, and they're getting their reward.
- That's an inaccurate generalization. The more likely scenario is that only about half of the people affected voted for Trump. There are a lot of innocent people getting fucked here.
  https://navigatorresearch.org/2024-post-election-survey-gender-and-age-analysis-of-2024-election-results/
  
  I feel bad for the children who aren’t old enough to do anything about it, but Trump is the symptom not the disease, which has been metastasizing as long as I’ve been alive.
  
  Exactly.
  But try hammering that through a partisan's skull. Very difficult.
  
  There are a lot of innocent people getting fucked here.
  But has anyone thought about these people's property?!
  Young people got nothing but they are supposed to be worried about old clowns 401ks 🤡
  
  The idea is the People unite against the Oligarchs, unless you enjoy bickering about crumbs, which you appear eager to do.
  
  You are commenting under a fake news article pearl clutching about boomers 401k
  But I agree with you
- Actually, boomers are mostly leftist. It's the young who are really flocking to the right these days.
  The boomers voted Republican for more tax cuts during their prime earning years, but now they're all collecting government benefits so they're Democrats again. It was their biggest voting bloc in the last election.
  It's actually the case around the world that the youth, and particularly young men, are shifting hard right.
  
  Looking at the exit polling, it’s pretty split with the 65+ crowd. Democrats lost a lot of young voters, but still have the majority of the youth.
  2016 by comparison
  
  You're underestimating that generation's ability to hate non-white people. A lot of them care about that hatred enough to sabotage themselves in other ways.

27 comments