Summary

As the stock market plunged Monday due to Trump’s trade wars, he spent the day posting on Truth Social.

The Nasdaq fell 4%, its worst drop since 2022, while the S&P 500 lost nearly 3%. Major tech stocks, including Tesla, saw significant losses.

Trump posted over 100 times, endorsing his tariffs despite investor panic. A White House official dismissed the sell-off as irrational fear.

Commerce Secretary Howard Lutnick insisted a recession is unlikely. Trump avoided a clear recession prediction, calling the economy’s shift a “transition.”

  • neidu3@sh.itjust.works
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    1 month ago

    In the name of science with a dash of self hatred, I had a look at 4chan earlier today. It seems even those morons blame trump for the market downturn.

  • DaddleDew@lemmy.world
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    1 month ago

    He’s blaming Biden for the decline while claiming that his tariffs are going to save the economy. Those tariffs are exactly what is causing the decline in the first place, especially with the moronic way he is trying to implement them that is driving investors and business away from the US. He will drive the US economy into the ground until his entourage turns on him.

    • But_my_mom_says_im_cool@lemmy.world
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      1 month ago

      Don’t worry, next election the Dems will win, and spend 4 years fixing the mess. And while doing so, Americans will accuse them of doing nothing and vote them out in favour of Republican, who will fuck everything up, until the Dems as elected to fix it again. Rinse and repeat and you got American politics

      • DaddleDew@lemmy.world
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        1 month ago

        I was suspecting he was collapsing the market on purpose too. But his mental breakdown about it last night on social media suggests he simply is arrogantly incompetent and delusional.

  • TransplantedSconie@lemm.ee
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    1 month ago

    “Look, this cliff we’ve intentionally drove off is nothing! The fact that we are plunging 300 feet straight down is an irrational fear you’ll all have to get over. pulls out unwrapped, slightly used Worthers Candy, anyone?” - Howard Lutnick.

  • Lucky_777@lemmy.world
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    1 month ago

    When he announced the tariffs you could see the stock prices drop before your own eyes. On Fox News even. Blaming Biden is just holding off his nutcase cult members. Hopefully real Republicans have some common sense and courage to stand up.

    • SoftestSapphic@lemmy.world
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      1 month ago

      His cult memebers are the “real” Republicans, at least what’s left of them.

      Anyone who doesn’t support fascism has stopped supporting the fascist party

  • alaphic@lemmy.world
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    1 month ago

    I mean there are only a few real hard and fast rules you have to follow in life (imo):

    1. Don’t talk about Fight Club
    2. No pre-orders, No exceptions
    3. Don’t fall in love with the stripper
    4. Don’t believe the politician’s promises

    Strippers and politicians are like two sides of a coin in that one pretends to love you but is just going to fuck you and the other is a stripper.

    It’s really just not that hard guys.

      • YarHarSuperstar@lemmy.world
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        1 month ago

        They said “the stripper” not “a stripper” which if I’m reading it correctly is… Slightly better I guess?

        • alaphic@lemmy.world
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          1 month ago

          I mean, I wasn’t trying to use it pejoratively or anything… And while I can’t say I have any first-hand male stripper knowledge, I’m pretty sure my advice is unisex. 😋

          Sure, I guess I could’ve said something about not commidifying love/affection/etc so it sounded a bit more inclusive of the broad and varied spectrum of sex workers or something, but - as they say - brevity is the soul of wit, after all.

          In all seriousness, tho: I meant no offense or anything, but I definitely wasn’t going to call them ‘exotic dancers’ because I just think that’s a fucking stupid term, tbh, and I’m super prepared to die on that hill, so come at me bro

  • Dimmer@leminal.space
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    1 month ago

    American people willingly join truth social and get brain washed is another level of 1984 I don’t understand.

    • RowRowRowYourBot@sh.itjust.works
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      1 month ago

      Jesus another Eu-diot who just doesn’t get it. Truth social is where you get the unfiltered truth directly from Trump. What could possibly be a more direct and accurate representation of the truth than what Trump tells you himself? Why would Trump, a man who wins at everything, need to lie? That’s what the lamestream media is for!

      /s but sadly so many believe this to be true.

    • Catma@lemmy.world
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      1 month ago

      There are only 2 types of people on Truth social. Nazis and people reporting on the Nazis on truth social. No one is joining Truth Social expecting to get anything other than Nazi propoganda.