Stocks dropped as the selling pressures that dragged Wall Street last week persisted, while investors braced for a slew of economic data reports this week.
  • Bytemeister@lemmy.worldEnglish
    38·
    1 day ago

    Did trump just set the new speed run for a Republican ruining the economy after a Democrat fixed it?

    • CharlesDarwin@lemmy.worldEnglish
      6·
      23 hours ago

      To hear him and his apparatchiks tell it, he was handed a DISASTROUS economy and we can all expect it to take a while for little d to fix it?

      As if we cannot see with our own eyes that the economy he was handed was outstanding and his tariffs are the cause of these crashes?

      This stuff reads like it was issued from the Ministry of Truth in 1984…

  • thingAmaBob@lemmy.world
    10·
    1 day ago

    When everyone is fearful be greedy…

    I just do automatic investments in a diversified portfolio every month and forget about it. I’m young and in it for the long haul. If shit really hits the fan, none of it will matter anyway.

    • dhork@lemmy.worldEnglish
      85·
      2 days ago

      He’ll issue an executive order establishing that the market can only go up

      • azimir@lemmy.ml
        47·
        2 days ago

        He disbanded the US government agency that develops the annual GDP numbers. Guess how they’ll figure those out next year?

        If you guessed “we’ll make some up that are higher than last year” then you’re spot on.

        • Lyrl@lemm.eeEnglish
          2·
          24 hours ago

          If it’s representing value produced by a population, and that population is both growing in numbers and finding ways for each person to be more productive, it makes sense for the index to go up. The current drop in stock markets is not related to either population decline nor to some widespread productivity hit, meaning sustainability isn’t the problem at hand.

        • jj4211@lemmy.world
          2·
          1 day ago

          Ultimately, it’s a numerical abstraction. A number can always go up. It does not mean it’s materially better than the number from last year, just that the number is bigger. When inflation goes high but people’s investments do not, that indicates bad stuff.

          If inflation and wages and investments and savings all go up consistently, it’s not necessarily unsustainable, it’s just quirky math.

  • formulaBonk@lemm.eeEnglish
    691·
    2 days ago

    Everyone here mentioning billionaires and missing the point that the Russian agent in charge is just doing his best to deliver any and all assets to Russia. Sanctions getting lifted just as the fire sale on American assets begins right before the civil unrest. If you’re a Russian dictator you could not have planned it better. Republicans are seriously the dumbest mother/sister fuckers on the planet. I can’t even believe how fucking stupid you’d have to be to hold “conservative views”. Like it does not compute how you can be that dumb

    • Revan343@lemmy.ca
      21·
      2 days ago

      Like it does not compute how you can be that dumb

      Easy, lack of education (or even actively detrimental ‘education’), courtesy of decades of Republican sabotage of the education system

  • Dagwood222@lemm.ee
    66·
    2 days ago

    I think he’s doing this deliberately. Encourage people to sell, so his buddies can scoop up stocks at low prices.

    • stopdropandprole@lemmy.world
      241·
      2 days ago

      it’s so much more than stocks. stocks are mostly vibes and short term get rich schemes for already wealthy people. they’re Pokemon cards for the finance class, creating almost nothing tangibly beneficial to society. hype and FUD in an endless cycle.

      you can’t eat stocks. you can’t warm your house with stocks. you can’t manufacture solar panels with stocks.

      real wealth, the serious fuck you Big Money, depends on the ownership and distribution of real resources: real estate, agricultural land, factories, pipelines, commerical buildings, capital infrastructure. these are what the ultra wealthy buy up during recessions and then charge rents and leases for everyone else to pay, forever. forget about owning land or a home, your kids can’t compete with someone paying cash on a 600k house or snatching up entire portfolios of hundreds of rentals in a single purchase.

      bailouts and blank checks given out as PPP loans to “business owners” during Covid redistributed wealth from the taxpayers (government) into the hands of the wealthiest people in the world. they can then convert their Pokemon collections into real wealth generating resources. government bailouts to corporations become an engine for not just making the rich richer but the types of assets they then acquire using that money cements them at the top of the wealth generation food chain forever.

      Trump 2.0 is engineering another massive redistribution, even bigger and more focused on real estate than before. he made his fake reputation on real estate. loyalist oligarchs who bank rolled dark maga will be handsomely rewarded with the newly emptied government office buildings and public lands.

      and your kids and grandkids will be homeless.

    • Magister@lemmy.world
      222·
      2 days ago

      yup, I’d buy apple or microsoft or nvidia because they are going down now but will go up certainly in 1 or 2 days or even weeks/months. Except tesla, this one will go down and down and down for days/weeks/months, tesla stock is super toxic, dump all of it.

      • sp3ctr4l@lemmy.zipEnglish
        10·
        2 days ago

        This is going to be the second Great Depression.

        It is going to impact the entire world.

        Notable differences from the last Great Depression:

        Many countries have many nuclear weapons.

        Something like 6 billion more people exist.

        Climate change is accelerating, and this will make food more expensive everywhere, as opposed to a regionalized Dust Bowl, as well as causing more frequent and more severe natural disasters basically everywhere… and the more time passes, the more expensive it will be to mitigate this.

        Perhaps also worth noting:

        Japan argued the US’s oil embargo on it as functionally a declaration of economic war.

        History is replete with examples of embargoes and massive tariffs being considered a justification for escalating a trade war… to an actual war.

  • cygnus@lemmy.ca
    191·
    2 days ago

    “Small price to pay to own the libs!” the faithful cry as they slowly eat their daily ration (one egg and a slice of wonder bread)

    • maplebar@lemmy.world
      3·
      2 days ago

      I sold all of my stocks a couple weeks back and I’m feeling pretty fucking good about that right now.

      • Ms. ArmoredThirteen@lemmy.zipEnglish
        1·
        2 days ago

        My employee stock purchase plan went through recently. I missed selling before the dip caused by all the other employees selling. Normally I will ride it out for a bit and the stock jumps back up but this time I had a sense it was going to just keep dropping. I waited a couple hours for it to partially rebound and managed to time it perfectly, it’s only been downhill since I sold lol

        • maplebar@lemmy.world
          2·
          2 days ago

          To be totally honest, this isn’t about stock market gamesmanship to me–I’m not trying to buy the dip over the next few days. (If anything I’m waiting for the AI bubble, which I personally believe is bigger than the .com bubble, to blow the fuck up.)

          Between incompetent idiots and assholes running everything, ridiculously inflated stock prices, meme stocks and market manipulation, on-again-off-again trade war bullshit, and the AI bubble, I’m happy to have my money out of the market. I have zero faith in the people who are running our economy to do anything worth investing in, and I’ll be perfectly happy to find alternative means of investing over the next 2-4 years.

          Frankly, I’m sick of putting almost my entire life savings in the hands of corporations and the delusional k-holed fucknuts like Musk who run them. It’s a bonus that I’m no longer the shameful owner of bullshit ETFs and company shares that serve only to enrich and empower the richest corporate oligarchs.

          I’ve lived through multiple crashes already, maybe I’ll hop back into the stock market during the next one, or maybe not because fuck this whole system.

  • Bruncvik@lemmy.world
    9·
    2 days ago

    From the article:

    “We see some irony in the recent outperformance by foreign markets over the U.S. markets. In our view, foreign companies in Europe, Asia, and Latin America are likely to suffer even more from deployment of tariffs than companies in the U.S.”

    I think they are overestimating the amount of trade flowing into the US. Tariffs will directly impacg US companies and customers, but they’ll also decrease the demand for foreign products. That will cause a challenge, if not outright recession worldwide, but I still think that foreign companies would be able to mitigate the drop in demand from the US better than US companies coping with supply shortages and higher prices.