BeaverFever Posted March 10 Report Posted March 10 Stocks tank as Trump declines to dismiss recession risk Major stock indexes tanked Monday, continuing a sell-off that gathered steam last week as rattled investors began zeroing in on the prospect of a significant falloff in U.S. growth amid persistent inflation and a wobbling job market. The broadest index of stocks, the S&P 500, was down as much as 3.5% Monday. Not only has it now given up all of President Donald Trump's post-election gains, it's at its lowest level since September and is essentially unchanged over the past seven months. The tech-heavy Nasdaq was off as much as 4.9% — for its worst day since 2022 — as it plunged deeper into "correction" territory, meaning it is off more than 10% from recent highs. The Dow Jones Industrial Average dropped 1,100 points, or roughly 2.7%. Recession fears were heightened this weekend after Trump declined to say that there wouldn’t be one. In an interview with Fox News that aired Sunday, Trump responded to a question about the possibility of a recession by saying the economy was going through “a period of transition.” In a note to clients, Goldman Sachs analysts downgraded their growth prospects for the U.S. — the first time since 2022 that they had done so — citing "considerably more adverse" trade environment as a result of Trump's tariff policy. The firm now sees growth averaging 1.7% for 2025, down from 2.4%, with the tariffs creating a drag via higher consumer prices, higher borrowing costs and delayed investment due to uncertainty. Few major firms were spared from Monday's drawdown. Nvidia, which has led markets higher over the past couple of years amid the AI investment boom, was down more than 4%, and is now off 22% year to date. Other major losers included Apple, Microsoft and Tesla, which was down more than 10%. The electric vehicle maker has also given up all its post-election gains as CEO Elon Musk has become a ubiquitous presence in Trump's White House. Even before debates about how protests against Musk and Tesla have affected shares, flagging sales in Europe and especially China, Tesla’s most important market, were already taking a bite out of the company’s value. Those anti-Musk protest have largely been in response to the tech billionaire's leadership of Trump's Department of Government Efficiency. Crypto, too, was hit Monday, with bitcoin prices falling below $80,000 for the first time since Trump's election and despite the White House convening the first-ever crypto summit Friday after announcing the creation of "strategic bitcoin reserve" — though some investors were left disappointed by the details. Shares in Coinbase, the U.S.'s largest crypto exchange, fell 10% Monday and has likewise erased its post-election gains. Investors are up in arms about Trump's seemingly chaotic economic policy. The president has repeatedly started, then stopped the imposition of tariffs on America's largest trading partners, while he and Musk have implemented drastic cuts to the federal workforce that threaten to swamp an already shaky jobs market with additional workers … https://www.nbcnews.com/news/amp/rcna195653 Quote
impartialobserver Posted March 10 Report Posted March 10 Well.. we shall find out if there is going to be a recession on Sept 25, 2025 when the second quarter GDP data comes out. Quote
BeaverFever Posted March 10 Author Report Posted March 10 Forget about “are you better off than you were 4 years ago”. Americans are significantly worse off than they were 49 days ago. Recession. Inflation. Layoffs. Funny none of this was mentioned in Trump’s election campaign. Whatever happened to prices going down “on day one”? As he promised during his campaign? He never mentioned anything about “adjustment periods” or “temporary pain” as he has now started doing. The only thing that went down on day one was Trump on Putin. We can now see clearly that puting Trump at the controls of the economy was like putting a 9/11 hijacker at the controls of airplane: nose dive at the first chance And you can’t blame Biden or Dems or even Republicans for this. This is due tot eu tariffs which are 100% Trump, even many Republicans in his own White House don’t support them. There is no political constituency that has been calling for these tariffs not even on the right wing and nobody has done any sort of work or analysis to suggest there’s any benefit or calculate the impact of all the harms. This is purely the result of The Mad King and his uninformed and uninformed tariff whims . 1 Quote
Dougie93 Posted March 10 Report Posted March 10 47 minutes ago, BeaverFever said: Forget about “are you better off than you were 4 years ago”. Americans are significantly worse off than they were 49 days ago. Recession. Inflation. Layoffs. Funny none of this was mentioned in Trump’s election campaign. Whatever happened to prices going down “on day one”? As he promised during his campaign? He never mentioned anything about “adjustment periods” or “temporary pain” as he has now started doing. The only thing that went down on day one was Trump on Putin. We can now see clearly that puting Trump at the controls of the economy was like putting a 9/11 hijacker at the controls of airplane: nose dive at the first chance And you can’t blame Biden or Dems or even Republicans for this. This is due tot eu tariffs which are 100% Trump, even many Republicans in his own White House don’t support them. There is no political constituency that has been calling for these tariffs not even on the right wing and nobody has done any sort of work or analysis to suggest there’s any benefit or calculate the impact of all the harms. This is purely the result of The Mad King and his uninformed and uninformed tariff whims . Trump is a reality TV star all he cares about is conflict and associated headlines, he will turn on a dime in the opposite direction whenever it suits him, there is no policy objective other than controversy 2 Quote
robosmith Posted March 10 Report Posted March 10 2 hours ago, Dougie93 said: Trump is a reality TV star all he cares about is conflict and associated headlines, he will turn on a dime in the opposite direction whenever it suits him, there is no policy objective other than controversy AKA totally unfit for the office of POTUS. 🤮 Quote
Aristides Posted March 11 Report Posted March 11 Dow down 2% and NASDAC down 4%. IN ONE DAY. Way to go Donnie, MAGA's must love watching their 401K's and savings shrink before their eyes. Quote
Dougie93 Posted March 11 Report Posted March 11 13 hours ago, robosmith said: AKA totally unfit for the office of POTUS. 🤮 I didn't vote for him, the Democrats went woke and got broke, Quote
Nationalist Posted March 11 Report Posted March 11 13 hours ago, robosmith said: AKA totally unfit for the office of POTUS. 🤮 As opposed to this... 1 Quote Its so lonely in m'saddle since m'horse died.
Moonbox Posted March 11 Report Posted March 11 (edited) 2 hours ago, Nationalist said: As opposed to this... How long is this old rag of an argument going to last? Why don't you blame Obama while you're at it? The cause of the current market chaos is singular, and the odds of a Trumpcession increase daily. Edited March 11 by Moonbox 1 Quote "A man is no more entitled to an opinion for which he cannot account than he does for a pint of beer for which he cannot pay" - Anonymous
Deluge Posted March 11 Report Posted March 11 (edited) 19 hours ago, BeaverFever said: Forget about “are you better off than you were 4 years ago”. Americans are significantly worse off than they were 49 days ago. Recession. Inflation. Layoffs. Funny none of this was mentioned in Trump’s election campaign. Whatever happened to prices going down “on day one”? As he promised during his campaign? He never mentioned anything about “adjustment periods” or “temporary pain” as he has now started doing. The only thing that went down on day one was Trump on Putin. We can now see clearly that puting Trump at the controls of the economy was like putting a 9/11 hijacker at the controls of airplane: nose dive at the first chance And you can’t blame Biden or Dems or even Republicans for this. This is due tot eu tariffs which are 100% Trump, even many Republicans in his own White House don’t support them. There is no political constituency that has been calling for these tariffs not even on the right wing and nobody has done any sort of work or analysis to suggest there’s any benefit or calculate the impact of all the harms. This is purely the result of The Mad King and his uninformed and uninformed tariff whims . He's not even two months in yet. Remember, Trump has already secured the border, and he is actively deporting your dear friends, the illegal alien criminal invaders. He's stamping out DEI, and DOGE is purging the federal government of fraud, waste and abuse. Cleaning up democrat messes takes time. Edited March 11 by Deluge 1 Quote
Aristides Posted March 11 Report Posted March 11 Dow down another 600 points so far today. Will it beat yesterday? Stay tuned. Quote
Boges Posted March 11 Report Posted March 11 We're entering into Mad King territory. Canada is standing up to Trump and he can't handle it. Nothing he's saying makes any sense. The billionaires that bankrolled his re-election couldn't have signed up for this. Quote
Aristides Posted March 11 Report Posted March 11 (edited) The US gets about 80% of the aluminum it uses from Canada, they only produce 16% on their own and they also use a lot of our steel. What's that going to do to the auto, aviation and other industries in the US that use a lot of the stuff. Trump will end up shutting down the auto industry without even applying tariffs to vehicles. Edited March 11 by Aristides Quote
robosmith Posted March 11 Report Posted March 11 3 hours ago, Nationalist said: As opposed to this... ^Right on cue, I KNEW you would defend Trump's DISASTROUS economic performance. I'll take Biden's best in the West economy any day. Enjoy your tariffs. LMAO 39 minutes ago, Boges said: We're entering into Mad King territory. Canada is standing up to Trump and he can't handle it. Nothing he's saying makes any sense. The billionaires that bankrolled his re-election couldn't have signed up for this. All of those who attended his inaug, have LOST BIG BUCKS. LMAO 2 Quote
Aristides Posted March 11 Report Posted March 11 (edited) 21 minutes ago, robosmith said: ^Right on cue, I KNEW you would defend Trump's DISASTROUS economic performance. I'll take Biden's best in the West economy any day. Enjoy your tariffs. LMAO All of those who attended his inaug, have LOST BIG BUCKS. LMAO So has every MAGA hat that has a lot of market exposure in their 401K's or pension plans. For certain we are headed for a recession and are probably in one already. Before Trump only bankrupted his own companies, now he is saying, Hold My Beer. Edited March 11 by Aristides 1 1 Quote
Nationalist Posted March 11 Report Posted March 11 2 hours ago, Moonbox said: How long is this old rag of an argument going to last? Why don't you blame Obama while you're at it? The cause of the current market chaos is singular, and the odds of a Trumpcession increase daily. As long as "fit for office" is an issue. Quote Its so lonely in m'saddle since m'horse died.
Aristides Posted March 11 Report Posted March 11 Amerca's biggest problem is its overvalued dollar. It can never be competitive in world manufacturing while that exists. Quote
Boges Posted March 11 Report Posted March 11 3 minutes ago, Aristides said: Amerca's biggest problem is its overvalued dollar. It can never be competitive in world manufacturing while that exists. This is true. It also forces employers to shoulder the cost of healthcare. Quote
Hodad Posted March 11 Report Posted March 11 Biden inherited a broken economy from Trump. The damage was reversed and Biden handed Trump a robust economy--which Trump seems dead set on breaking in obvious ways. Trump did promise to reverse Biden's accomplishments. The MAGA cultists probably didn't realize that meant aggressively reversing the economic prosperity as well. 2 Quote
impartialobserver Posted March 11 Report Posted March 11 −194.24 (0.46%)today as of 12:10 pst. I think that you are going to see a slight downward trend over the next few weeks/month. Quote
Moonbox Posted March 11 Report Posted March 11 1 hour ago, Aristides said: Amerca's biggest problem is its overvalued dollar. It can never be competitive in world manufacturing while that exists. The funniest part about all of this is that the overvalued dollar isn't even a problem. Being the world reserve currency is one of best things going for the US, but you're right that it's a drag on their exports. That Fat Orange slob is like a little baby throwing a tantrum. He wants to have his cake (world reserve status) and eat it too (sans the trade deficit that world reserve status causes almost by default). 50% aluminum tariffs now! No! Make it 400%! THAT will show us! 1 Quote "A man is no more entitled to an opinion for which he cannot account than he does for a pint of beer for which he cannot pay" - Anonymous
Aristides Posted March 11 Report Posted March 11 The high dollar is good for consumers but it's also the main reason their trade deficits are so high. Quote
Aristides Posted March 11 Report Posted March 11 56 minutes ago, impartialobserver said: −194.24 (0.46%)today as of 12:10 pst. I think that you are going to see a slight downward trend over the next few weeks/month. I think there well be large and small declines with the odd up day. We are headed for a recession and it might be world wide. Quote
impartialobserver Posted March 11 Report Posted March 11 Just now, Aristides said: I think there well be large and small declines with the odd up day. We are headed for a recession and it might be world wide. Recession.. we will find out for sure in Sept 2025 when the GDP data for 2025 q2 comes out. Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.