"The Dow Jones Industrial Average rose 15.3% on March 13, 1933, marking an all-time one-day record; today's similar increase would push it up by 6,700 points."
"The 1933 jump was triggered by President Roosevelt’s actions to quell a Great Depression bank panic through a bank holiday, restoring faith in the bank system."
"Concerns about tariffs suggest inflation could rise to near 10%, with the Cato Institute estimating it at 9.5%, impacting consumer budgets."
"Tariffs are viewed as taxes on consumer goods, undermining household budgets and decreasing consumer spending, which drives GDP and can lead to recession."
The Dow Jones Industrial Average experienced a remarkable 15.3% increase on March 13, 1933, due to President Roosevelt's measures to end a banking panic during the Great Depression. This one-day record indicates a potential increase of 6,700 points today if replicated. Current concerns about tariffs and their inflationary effects suggest the possibility of U.S. inflation nearing 10%, which could adversely impact consumer spending and GDP growth. A prolonged recession could follow, mirroring the Great Recession's duration.
Read at 24/7 Wall St.
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