The losses across the board are continuing after the weekend, piling on the economic losses of Trump’s latest stock market crash.
Trump is repeating his total failure of his first term during his second term. This with the return of regular stock market crashes and an overall economy that is circling the drain. Donald Trump, the senile right wing lunatic, quickly got to work burning the whole economy to the ground with an early February stock market crash. This was followed up by an early March stock market crash which saw a 2 day loss on the Dow Jones of 1,300 point.
Of course, the one stock market crash per month was not acceptable and he quickly ramped his efforts up to crater the economy. This resulted in the 1,400 point stock market crash on the Dow Jones which was followed up by another 500 point stock market crash. At that point, trillions were already wiped out of existence, but that was when Trump initiated his “Liberation Day” plot to further bury the markets.
In response to the “Liberation Day” announcement where he announced so-called “reciprocal” tariffs where he basically completely made up numbers to justify (and I use that term VERY liberally) a tariff response just after the markets closed on Wednesday. In response, the tariffs were considered worse than the worst case scenario and the markets began their record pace stock market crash the next day. On day one, the Dow Jones dropped a stunning 1,600 points. That alone would be a crash for the record books, but those losses only accelerated on day 2 when the Dow Jones lost another roughly 2,200 points. As a result, over the course of 2 days, the Dow Jones set new records for two of the top 20 worst performances on a per point basis ever.
As of today, here is the Wikipedia chart of the worst points losses ever:
So, as of today, Trump notched 3 spots on that list already over the course of his first just over 3 months in office. His crashes occupy number 13, 6, and 3 respectively. Only 17 more to go to clear the board just like his first term.
While today wasn’t a record breaking day in the markets, it does continue the “Liberation Day” stock market crash by adding another 349 points. So, over the course of three days, Trump’s “Liberation Day” caused a total of 4,100 points in losses. In the last week, the Dow Jones lost -3,914.15 which works out to a -9.35% loss. Most market analysts, I’m sure, won’t be saying that a 10% drop in a week is a small number by any means.
Of course, as we noted during our day 2 coverage, Trump isn’t even planning on slowing down. He already announced additional tariffs on semiconductors and computer chips. Today, in response to China announcing retaliatory measures against the US, Trump apparently double-downed and threatened to put another 50% tariff on China. From the BBC:
Donald Trump has threatened China with an extra tariff of 50% on goods imported into the US if it does not withdraw a countermeasure and reiterated he would not pause on others tariffs as global markets tumbled for a third day.
Speaking at the White House on Monday the US president said that he is not considering a pause on new, wide-ranging tariffs to allow for negotiations with other countries.
“We’re not looking at that. We have many, many countries that are coming to negotiate deals with us, and there are going to be fair deals,” he told reporters.
Trump reiterated his threat of additional 50% duties on Chinese goods if Beijing did not retract its counter tariff plans by Tuesday.
In a post on his social media platform, Truth Social, the US president said he would introduce the extra tariff unless China withdrew its own 34% counter-tariff on American goods, which it announced on Friday.
So, Trump really is showcasing his intention of burning as much money as humanly possible and if it hurts every American in the process, so be it. Trump doesn’t care because the destruction and chaos was the whole point in the first place. Little wonder why huge numbers of people, including American’s, took to the streets to protest these actions in the first place.
