Summary
U.S. stock futures dropped sharply Wednesday evening after Trump announced sweeping global tariffs, including a 10% baseline on all imports and 25% on autos.
As of 6:30 p.m. ET, Dow futures fell 2.43%, S&P 500 futures 3.60%, and Nasdaq futures 4.46%, contrasting with modest gains earlier in the day.
Trump framed the move as “Liberation Day,” but investors and economists raised alarms.
Goldman Sachs now sees a 35% recession risk, citing falling consumer confidence and the administration’s readiness to endure short-term economic pain to advance its trade agenda.
Even though I know that I am personally going to feel the pain from this, it does bring me a little bit of satisfaction watching the rich assholes who put Trump in office in exchange for tax cuts losing their net worth because it’s all tied to their stock.
Those tax breaks aren’t going to matter when they don’t have any money.
The poor people voted for tax cuts for the rich because they might be rich one day.
Turns out the rich people should’ve voted for social safety nets because they might be poor one day.
The rich people will buy up these stocks and become even more proportionally wealthy than the poor because of it.