Stocks fell Thursday afternoon as President Donald Trump’s pledge to temporarily exempt many Mexican imports from his 25% tariffs failed to deter a wider sell-off.
The S&P 500 was down as much as 2.1%, while the tech-heavy Nasdaq declined 2.8%. The Dow Jones Industrial Average fell approximately 500 points, or 1.4%.
The major averages have each lost more than 3% this week, with the broader S&P 500 having now erased the gains it accrued since Trump won November’s election. That index is off 6% from its all-time high in January, the month he took office.
Thursday’s action marks a reversal of a short-lived rally Wednesday following the Trump administration’s announcement that autos from America’s largest manufacturers would be exempted from the 25% tariffs he unveiled on Canada and Mexico.
At this point nobody knows WTF he’ll do by this afternoon much less a longer plan, is there any surprise that makes for instability?
Let’s not get crazy here, how’s the VIX doing?
checks
Damn. Never mind. Looks like volatility’s way up! All this winning is just exhausting, I’m tired boss
Businesses hate chaos and this fucker is 100% chaos.
Sly businesses thrive in chaos, they just have enough assets to play the long game.
Turns out markets don’t like uncertainty and a looming massive price increase.
Stocks fall due to Trump’s Insider trading parters all trying to sell high off of tariff reprieve news at the same time. Many didn’t wait for the bounce in the reverse pump and dump scheme.
The convicted felon who cried wolf.
At this point the story might as be about crying tariff.
Oh I think he’s totally going to try and set up a DARVO because he’s clearly a narcissist. Especially now that Canada is keeping ours.
Deny - I never caused the instability with the tariffs. I’m just trying to put America first. Attack - Canada put unfair retaliatory tariffs on us etc. Reverse Victim & Offender - Canada’s attacking America so we’re really the victims here ( and then US reinstates stronger tariffs).
Watch for upcoming Special Oligarchs’ Clearance Sale!
Free Luigi? Would that work? He’s not gonna be doing anything, just serving as an example.
So they called his bluff? What a pusillanimus.
Anyone with any sense (unless they’re significantly wealthy, playing the long game, buying on the low to sell on the high) would avoid buying for the foreseeable future, until the administration stops the insanity.
Anyone with money isn’t buying at all, they are shorting
