4d ago

US stocks tumble again as reality sets back in on Wall Street

www.cnn.com /2025/04/10/investing/us-stock-market-dow-tariffs/index.html

cross-posted from: https://lemmy.world/post/28033197

Summary
US stocks fell sharply Thursday after a historic rally, as investors refocused on lingering economic damage from Trump's tariffs. The Dow dropped over 900 points, with the S&P 500 and Nasdaq also down.
Despite Trump’s 90-day pause on some “reciprocal” tariffs, others remain, including a universal 10% tariff and 25% duties on autos, steel, and more.
Economists warn of recession risks. China raised tariffs to 125% on US goods, with Beijing responding in kind.
Markets remain volatile, and analysts say temporary relief hasn’t changed underlying economic threats.

Economics @lemmy.world

MicroWave @lemmy.world

4d ago

US stocks tumble again as reality sets back in on Wall Street

www.cnn.com /2025/04/10/investing/us-stock-market-dow-tariffs/index.html

33 comments

China raised tariffs to 125% on US goods, with Beijing responding in kind.
Summary written by AI.
Edit: For those not seeing it, in this context, Beijing is China. So, China responded to China? That's the kind of nonsense an AI writes, and that sentence is nowhere to be found in the original article. Hence, "Summary written by AI."
- It probably means "Responding in kind, China raised tariffs to 125% on US goods." The name "Beijing" is used to mean the Chinese government. It's clumsy wording, but not nonsense.
  
  No it’s a major typo. China raised tariffs to 85%. U.S. raised tariffs to 125%.
  
  No, that's not clumsy wording. It's nonsense. Beijing isn't going to "respond in kind" to China raising tariffs. As you correctly stated, Beijing is China. What if it said, "The United States raised tariffs to ___% on Chinese goods, with Washington DC responding in kind."? It's exactly the same nonsense.
  
  Bullshit. Read the article. It's entirely hallucinated.

He is rug pulling an entire nation. Hell, probably the world. Trump is insider trading and MAGA is just too stupid to realize the grift.
- He and his wealthy friends could be potentially stealing billions from our retirement funds.

Feels like 2008 out there.
- agreed, but we are still in the shallows... the follow-on 2008 redux hasnt even started to hit yet - I am waiting for bond market defenestration. this funamentally feels way more "insane"
  
  It DOES have that 2008 "we know it's gonna be bad but we're waiting to see just HOW bad' vibe out there, doesn't it?
  
  The crazy thing is the buffet indicator is still way high. We have a lot farther to fall before Warren Buffet would suggest entering the market.
  
  I guess we will get to see the effect on certain permanently 'overvalued' sub thirty dollar stocks when marge comes calling. I'm kinda curious if some of the conspiracy crap around the meme stocks is true.
- Didn't remember U.S.A. threatening war against her own allies and China at the same time during 2008, more like idiot induced economic warfare.
  
  That isn't what I'm talking about.
- Glad I was 20 in 2008 so my lifestyle had no changes at all during that recession, it was easy to stay a drugged out punk during that time
  
  I am so sorry. I have kids that are now trapped in this absolute dumpster fire of a country we have crafted. we need a different way, and getting there may be supremely painful.
  I wish I had more to offer than "dont give up", but its basically what I tell my kids. soon enough the prior failures will be dead and its your job to make sure your contemporary failures never get anywhere near the leavers of power.
- Nah more '29 vibes
  
  Nah. The Hoover administration wasn't intentionally trying to crash the economy.
  
  Except this time we get the tariffs before the crash.

Dead cat bounce

But I'm winning!
3rd term when‽¿‽

33 comments