“The stock market plunged again today after President Donald J. Trump continued to harass Federal Reserve chair Jerome Powell. The threat of instability if Trump tries to fire Powell, added to the instability already created by Trump’s tariff policies, saw the Dow Jones Industrial Average fall 971.82 points, or 2.48%; the S&P 500 dropped 2.36%, and the Nasdaq Composite fell 2.55%."
~ Heather Cox Richardson
"The dollar hit a three-year low, while the value of gold soared. Journalist Brian Tyler Cohen noted that since Trump took office, the Dow has fallen 13.8%, the S&P 500 is down 15.5%, and the Nasdaq is down 20.5%.
Hannah Erin Lang of the Wall Street Journal reported that ‘[t]he Trump rout is taking on historic dimensions.’"
#Trump #tariffs #FederalReserve #StockMarket #recession #Dow #Nasdaq #dollar
/3
"She noted that the Dow Jones Industrial Average ‘is headed for its worst April performance since 1932,’ when the country was in the midst of the Great Depression. Scott Ladner, chief investment officer at Horizon Investments, told Lang: ‘It’s impossible to commit capital to an economy that is unstable and unknowable because of policy structure.’”
#Trump #tariffs #FederalReserve #StockMarket #recession #Dow #Nasdaq #dollar
/4
"It's amazing how much winning we've been doing."
~ Benjamin and EJ Wittes, as they point the graphic displayed below, showing the performance of the Dow since Trump was elected
#Trump #tariffs #FederalReserve #StockMarket #recession #Dow #Nasdaq #dollar
/5
"The International Monetary Fund will officially downgrade global growth forecasts this morning in response to the swirling trade war and severe market turbulence triggered by Donald Trump’s on-off tariffs. ...
Back on Jan. 17 — about a million political years ago — the IMF was merrily forecasting global growth of 3.3 percent for both 2025 and 2026."
~ Jack Blanchard
#Trump #tariffs #FederalReserve #StockMarket #recession #Dow #Nasdaq #dollar #IMF
/6
"Per Reuters, it even raised its annual growth forecast for the United States at that time to 2.7 percent, citing 'robust labor markets and accelerating investment.' At that stage, the only cloud on this gloriously sunny horizon was an oblique warning to world leaders that any 'intensification of protectionist policies' would damage trade and investment and rock global markets. Whatever could they have meant?"
#Trump #tariffs #FederalReserve #StockMarket #recession #Dow #Nasdaq #dollar #IMF
/7
"Fast-forward three months … and here we are. The S&P 500 has tumbled 14 percent since Trump’s inauguration, the stock market's worst start to a presidency in more than a century, according to an analysis released Monday by Bespoke Investment Group (per Investopedia.) The dollar is down 10 percent since Trump’s inauguration, per WaPo. Pretty much all the damage has been done since 'Liberation Day' on April 2."
#Trump #tariffs #FederalReserve #StockMarket #recession #Dow #Nasdaq #dollar #IMF
/8
"Trump inherited an economy in remarkably good shape. We’d had 'immaculate disinflation': The inflation spike of 2021-22, largely caused by Covid-related supply chain disruptions, had faded away without a large rise in unemployment.
But Trump wasted no time in squandering the hand he’d been given."
~ Paul Krugman
#Trump #tariffs #FederalReserve #StockMarket #recession #Dow #Nasdaq #dollar
/9
https://paulkrugman.substack.com/p/stop-in-the-name-of-trump
"It’s not just the destructive tariffs. It’s also the chaos, as policy zigzags wildly, and the craziness. If you were a foreign investor, would you want to bet on America right now? Would you even want to visit to look at investment prospects, given the risk that you might be imprisoned by ICE because you once sent a text critical of Trump?"
#Trump #tariffs #FederalReserve #StockMarket #recession #Dow #Nasdaq #dollar
/10
Andrew Egger thinks the markets may be discovering that Trump is crazy:
"Markets seem to be slowly discovering what close Trump watchers have known for years: An errant, insane Trump thought may emerge in the form of a single tweet—rattling the news cycle and then vanishing without a trace—but if that idea reemerges on multiple occasions, it quickly threatens to jump into official administration policy."
#Trump #tariffs #FederalReserve #StockMarket #recession
/11
https://www.thebulwark.com/p/market-discovering-trump-crazy-fed-powell-economy
@wdlindsy I'm no expert, but I've known he's crazy for years. He acts on whims and won't take advice.
