Summary
U.S. stocks tumbled Thursday as market volatility continued after Trump’s abrupt 90-day tariff pause and raised tariffs on Chinese imports to 145%.
On CNN, former Treasury Secretary Janet Yellen called Trump’s economic policies the “worst self-inflicted wound” an administration had ever imposed on a “well-functioning economy.”
The Dow dropped 2.5%, Nasdaq 4%, and S&P 500 3.4%. Trump tried to defend the move as strategic leverage.
Critics condemned the chaos and raised insider trading concerns after Trump told subscribers it was a “great time to buy.”
No, because the damage he has done is ongoing and could literally bring the USD down from the preferred security of the world economy.
And if he does that, then all that speculative wealth in our still-inflated stock market is worth tittlywinks.
They’re gonna cash it out in RMB, not leave it in US stocks.