The article discusses the recent plunge in U.S. stock markets due to President Trump's tariffs, particularly a new 34% tariff on Chinese goods. JPMorgan has raised the risk of a global recession to 60% from 40%. As a result, key indices like the S&P 500 and Dow Jones saw substantial declines. Critics, including Groundwork Collaborative's Lindsay Owens, blame Trump for economic turmoil, stating his policies have eroded consumer confidence and harmed retirement savings, with some suggesting he could be intentionally undermining the economy.
Alarm over U.S. President Donald Trump's tariffs continues to grow, with stocks plummeting and JPMorgan warning that "the risk of recession in the global economy this year is raised to 60%, up from 40%."
Trump has officially brought the economy to its knees. The president single-handedly wiped out Americans' retirement savings overnight and subjected businesses to intense whiplash with his increasingly erratic and chaotic policies... to call this an economic downturn is an understatement; Trump is marching us straight into a depression.
Even if Trump splits with Musk, the tech bro's strategy of wrecking institutions and pushing legal limits will live on.
The S&P 500 was down 4.8% in afternoon trading, after earlier dropping more than 5%, following its worst day since COVID wrecked the global economy in 2020.
Collection
[
|
...
]