US stocks were sharply lower Friday as investors digested souring consumer sentiment and inflation data that showed an uptick in one of the Federal Reserve’s key gauges, underscoring the delicate state of the economy as businesses brace for President Donald Trump’s tariffs.
The Dow tumbled 750 points, or 1.77%, on Friday. The broader S&P 500 fell 2.1% and the Nasdaq Composite slid 2.8%.
. . .
Wall Street was also grappling with Trump’s announcement on Wednesday of 25% tariffs on all cars shipped into the US, set to go into effect April 3. Trump also announced tariffs on car parts like engines and transmissions, set to take effect “no later than May 3,” according to the proclamation he signed.
It’s hard to lie about stock prices, let’s watch them continue to shout their propaganda as the riots start.
They inherited Biden’s economy
trump can’t affect anything so soon
It would be worse under Kamala
We’ll just have to suffer a little pain while trump fixes things
Take your pick of weak excuse
At this point the people that still like trump would happily live in a cardboard box as long as people they didn’t like were denied a cardboard box
His supporters would clap and cheer in the dark while he unscrews the last lightbulb.
There has been a lot of “lying” about stock princes over the last decade but quite indirectly so: for example the ultra low interest rates have allowed many companies to get loans merely to buy their own stocks, which pushes stock prices up whilst loading the company with more debt (and bad debt rather than good debt: not having been taken for investing in productive and marketing activities of the company, those loans will not lead to the increase in profitability needed to pay the debt back plus interest).
Similarly, because the wealth has been concentrating in fewer and fewer hands there has been a lot more money floating around looking for investments (every extra dollar in the hands of a poor or working class person is one extra dollar that goes into consumption, every extra dollar in the hands of a rich person is one extra dollar that’s looking for investment), which has pumped up bubbles from realestate to crypto, and that includes stocks.
It’s not “lying” in the sense that one person moved the markets by telling porkies, it’s more of a mix of economic manipulation and an emergent system (in the Mathematical sense) transforming the actions of the various agents under these manipulated financial conditions into a big picture of stocks (and other “investment” class assets) going up in price even though no real increase in their underlying value has happened (the companies aren’t really profiting so much more that it justifies their market cap increases, the houses whose prices are going up have no actual improvements to justify the higher prices - the value going up is basically justified by the value going up).