President Trump's recent tariff announcement has caused a significant stock market downturn, erasing approximately $6.4 trillion in value and impacting many American households. Despite previous successes and high approval ratings, this move has confused citizens, as they witness a negative shift in economic perceptions. Polls indicate a growing disapproval of Trump's handling of inflation and tariffs, overshadowing his earlier achievements. As markets react negatively, concerns arise about the implications for Trump's presidency and Republican control of Congress, casting doubt on the effectiveness of this economic strategy.
The stock market meltdown that wiped out some $6.4 trillion of value last Thursday and Friday means many households saw 10% or more of their nest eggs suddenly erased.
Given the tumult on Wall Street and in markets around the world, it's reasonable to conclude that Trump is betting his presidency and GOP control of Congress on the tariff gambit.
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