cross-posted from: https://lemmy.ml/post/28091145
US stock markets tumbled on Thursday as investors parsed the sweeping change in global trading following Donald Trump’s announcement of a barrage of tariffs on the country’s trading partners.
All three major US stock markets closed down in their worst day since June 2020, during the Covid pandemic. The tech-heavy Nasdaq fell 6%, while the S&P 500 and the Dow dropped 4.8% and 3.9%, respectively. Apple and Nvidia, two of the US’s largest companies by market value, had lost a combined $470bn in value by midday.
Meanwhile, the US dollar hit a six-month low, going down at least 2.2% on Thursday morning compared with other major currencies and oil prices sank on fears of a global slowdown.
10 Comments
RandAlThor@lemmy.ca · 53 pts · 1y
Oh that's a weird a coincidence both happened under the same president!
Bonesince1997@lemmy.world · 12 pts · 1y
This is too much winning
CharlesDarwin@lemmy.world · 7 pts · 1y
YeahButRepublicanGudAtConomy -magoffs, probably
slaneesh_is_right@lemmy.org · 1 pts · 1y
Yeah, friggin obamas fault somehow.
UnrefinedChihuahua@lemmy.dbzer0.com · 33 pts · 1y
Worst day so far
TwinTitans@lemmy.world · 30 pts · 1y
Wait until tomorrow when they can continue falling!
CharlesDarwin@lemmy.world · 3 pts · 1y
Wait until they actually go into effect....or the retaliatory from other countries goes into effect after that....
Nightwingdragon@lemmy.world · 27 pts · 1y
CharlesDarwin@lemmy.world · 9 pts · 1y
Wonder what happens when this actually goes into effect and the new prices start actually rolling in. That's if donvict doesn't flip-flop (again).
This is just speculators looking at the prospect of that....
ComfortablyDumb@awful.systems · 3 pts · 1y
slaneesh_is_right@lemmy.org · 4 pts · 1y
If america gets a cough, the whole world gets sick. And america is bleeding out of their ass right now. As much as it sucks for the rest of us, it's nice to see.
entwine413@lemm.ee · 2 pts · 1y
It's definitely going to fuck shit up on a global level.