I'm looking at both the dow and the nasdaq, and they look fine. Where is this "plummet" the article is referring to? Not that I think the tariffs are good, but let's be truthful.
this post was submitted on 01 Feb 2025
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Not exactly what I would classify as a plummet, but we were seeing green numbers for the day and then they subsequently turned down once this was announced.
Still too early to say whether we're going to be looking at any form of sharp downturn.
Starting just after 11 AM EST, the S&P went down over 1%. It's not a steep plunge; that kind of swing happened on Monday for AI, too, IIRC.
Not sure what the article is talking about. I'm sure once tariffs are announced it will drop tho. But that's a problem for monday.
Going down less than one percent is the opposite of a 'plummet.' It is literally indistinguishable from a normal daily fluctuation.
Furthermore, the market has overall gone up since.
OK but they did fall rapidly, and one can only surmise it's because of the announcement of more tariffs.
The market is driven by emotion, which is why doing anything other than long term investing is risky. I'm sure the fluctuation was connected to his tariff announcements. You want to see a real fall? Wait until the tariffs become a thing and people realize he's screwed up a functional system. I wonder how fast one can backtrack such things? If it wasn't for the harm done to so many people, I'd love to see if it's a Brexit level mess, or just a temporary hiccup once they reverse course.
Seems more like a Liz Truss level mess. Unfortunately, unlike the UK, in the US system it's effectively impossible to remove their leader from power. So they're stuck with him even after he craters the economy.
Just an anecdote, but I sold all my SPY yesterday. I kept some more conservative investments in but I think once people see inflation from the tariffs it will drop.
Right, absolutely. I'm not saying that Herr Drumpf just kickstarted a recession and neither do I think that's the claim that the article is trying to make. The market, however, had a very clear reaction to just the MENTION of tariffs. What happens when the details to these tariffs are released? What happens when they are actually implemented?
It will react with more details similarly. Like I said, it's putting them into place that's the real hit, and it will be much more than a stock market drop. I suppose tariffs do have a place in some circumstances, but he's throwing darts, and none of them are stuck in the target.
Why are you posing as an authority on this? Its painfully obvious youre talking out of your ass.
I never said I was. Trump promised tariffs on EU countries and stocks went down. I'll grant you they didn't go down by a lot, but I don't think the article was being disingenuous.
There have been bigger day swings in the last couple weeks than there was with this announcement.
Thats what the stock market does and everyone always zooms into a 1hr chart to show a dip as if it didnt go back up by extended session close that same day.
OK if you say so. How would one ascertain whether these comments had an effect?
As far as I know, when state of affairs becomes uncertain, stocks go down. That's the extent of my knowledge as pertaining to stocks. I figure that announcements of tariffs bring uncertainty in the long-term.
Uncertainty drives volatility, which is both up and down.
DJIA shorts are up 347% seems a lot of people are leaning towards a downside
Hold on now, that was a NASDAQ loss of nearly 0.75%. If the Americans do that 134 times in a row, all their money will be gone! How would they buy their eggs? /s
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One of the funniest things I read was a WSJ article on tariffs, in the comment section. Along with a lot of copium about how they, personally, don't buy such items, some dumbass bitching that WSJ - that's right, the Wall Street Journal - is showing their bias against donvict.
The ONLY gloom and doom articles I saw in WSJ during Biden's high inflation term were in the opinion section. Your bias is clearly showing ...
Apparently, reporting on items likely to be affected by the donvict taxes on goods is "bias". That WSJ, always known for their extremist progressive WOKE agenda and their "TDS". LOL
And hedge funds keep betting against the fucking economy. 401ks, savings, and pensions will all be effected. They want to steal your money.
All I hope is that Americans grow the balls for a general strike.
There were plans for May 1st 2028 since three major unions are renegotiating at that time.
I'm not sure it can wait four years.
Trump or someone exactly like him will be re-elected in 4 years.
There won't be elections in 4 years
I think we will have Hungarian or Venezuelan style "elections".
Nah there will be, but it won't make a difference. Why stop when they keep winning?
NGL it'd be cool if VYM dropped to $77 again, I'd like to buy into more of that.
Right now it's worth $132 even though the dividends get adjusted down to if the stock was worth roughly $100.