this post was submitted on 03 Apr 2025
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politics

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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.

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[–] Nightwingdragon@lemmy.world 25 points 14 hours ago

This is bad. It's going to get worse.

France's President Macron has called for European Union countries to pull their investments out of the US entirely. If they start doing that, you're talking about the Great Depression looking like you lost your lunch money on the way to school by comparison.

And given that Trump's response to all of this is to double down on attacking allies, I expect a whole lot of countries to be breaking a whole lot of US-based contracts in the near future.

Worst day so far

[–] RandAlThor@lemmy.ca 51 points 18 hours ago (3 children)

Oh that's a weird a coincidence both happened under the same president!

[–] CharlesDarwin@lemmy.world 7 points 14 hours ago

YeahButRepublicanGudAtConomy -magoffs, probably

[–] Bonesince1997@lemmy.world 12 points 16 hours ago

This is too much winning

[–] slaneesh_is_right@lemmy.org 1 points 9 hours ago

Yeah, friggin obamas fault somehow.

[–] TwinTitans@lemmy.world 28 points 18 hours ago (1 children)

Wait until tomorrow when they can continue falling!

[–] CharlesDarwin@lemmy.world 3 points 14 hours ago

Wait until they actually go into effect....or the retaliatory from other countries goes into effect after that....

[–] CharlesDarwin@lemmy.world 8 points 14 hours ago

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 6 points 14 hours ago (2 children)

What does this actually mean for the world. F**k the US but what would be the impact when the world's largest consumer goes into a lower consumption mode?

[–] slaneesh_is_right@lemmy.org 3 points 9 hours ago

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 points 12 hours ago

It's definitely going to fuck shit up on a global level.