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u/Dalcoy_96 14h ago
What a complete fucking waste. My dad who isn't a Trump supporter but fell for the whole strong man "I'm gonna fix everything" schtick, works in finance and couldn't believe Trump unleashed the tariffs. 🤷
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u/InvertebrateInterest 9h ago
He couldn't believe Trump did...*checks notes* what he said he would do?
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u/ParamedicSmall8916 3h ago
Trump's a negotiator. I genuinely thought he'd just try to scare other countries into more favorable trade deals, but I think nobody expected this.
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u/eggsbenedict17 2h ago
He says shitloads of stuff - end the Ukraine war in 1 day, take over Gaza etc etc
Just because he followed through on one thing doesn't mean he does everything he says - the fact that the market dropped so much means that they didn't predict him to do that either
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u/Clever_droidd 35m ago
To be fair, he has a history of bluffing and outright lies. Clinton isn’t in jail (yet) and the border wall, not only isn’t built, but Mexico didn’t pay for it.
On tariffs, he threatened them then postponed them. On 4/2, “liberation day”, the market was green until he showed that big beautiful chart around 3:25 est. The market didn’t fully believe him for good reason. Sadly, I kept thinking I should buy puts, but second guessed myself thinking I was missing something. I reasoned the market was probably right, he’s going to move the goal post again.
Here is what the market didn’t know: He previously talked about reciprocal tariffs, which would be fairly reasonable. What he calls reciprocal tariffs are way higher than what other countries actually have on our products. That was the biggest shock to the market. There is reason to believe the market priced in actual reciprocal tariffs, not the wildly disproportionate tariffs he announced.
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u/monadicperception 14h ago
Finance people are actually quite clueless. Spouse is in finance and I, the lawyer, actually dictate our investment strategy (and we pulled out early this year so we’ve been spared the bloodbath). I attribute it to lawyers being trained to spot risks and to mitigate risks. Also, having an understanding of how the law works is a huge competitive edge.
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u/rectumreapers 9h ago
Explain MAGA lawyers than 🤔
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u/monadicperception 9h ago
I know a few. My explanation of all MAGA is this: they are incredibly self-centered individuals. Seems to be a pre-requisite to the MAGA “movement.”
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u/Ok-Confidence9649 3h ago
I was reading about the 2007-2008 crisis and crash and how most economists did not see it coming. There is a small list of people credited with predicting it. But after reading that, I have realized no one is going to warn or save us. We truly have to look out for ourselves.
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u/AdagioHonest7330 1m ago
I find lawyers to be the absolute worst with investments. Lol trained to spot risks. Usually the lowest paid back office cost center in any Wall Street firm.
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u/mhteeser 14h ago
We are just along for the ride at this point we see how this plays out in 6 months. At this point I am more worried about opec increasing production and oil prices sliding..it will get to point USA oil producers will stop because of it not being profitable or able to export oil do to tariffs. At that time we have to import more with the import tariffs it will be great. It will make it look like the tariffs are working when he just destroyed usa oil production.
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u/Positive-Feed-4510 13h ago
Drill baby drill?
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u/mhteeser 13h ago
Kinda the opposite
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u/Positive-Feed-4510 13h ago
That was the joke I was trying to make lol
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u/mhteeser 11h ago
Sorry I deal with a lot of people that would say that because they believe it's true.
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u/sirloindenial 11h ago
He would use the iran attack card, that would prop up the price. Already five b2 spirit in the middle east. And if iran retaliate their only option is attacking the gulf countries, even less production.
I don't believe he is that smart though.
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u/Smarterchild1337 10h ago
Did Trump accidentally impose aggressive domestic green energy incentives?
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u/Daxnu 12h ago
America has been enjoying super cheap gas for years. Gas in the EU is double what you pay. It's why we like the not super big ugly gas hogs. If gas was cheap we would buy monster trucks too
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u/Dominiczkie 3h ago
A bit off topic but we don't buy the giant gas hogs because there's nowhere to park them (god bless Europe)
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u/Livid-Zone-7037 14h ago edited 12h ago
Trump proves to be more deadly than Coronas virus.
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u/Fit_Fisherman_9840 4h ago
Who thought that starting a second global trade war will be bad. Not the orange retard that buil economy policy with chatGPT
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u/freshmozart 15h ago
This is what happens when somebody thinks starting a trade war among countries of the free world is a good idea. The US got what they voted for.
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u/MilitantlyWokePatrio 15h ago
We have a loooooot of work to do to set this back in order. By we I'm talking about Americans.
... And more specifically not "Americans" who voted for this traitor.
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u/freshmozart 15h ago
At least you showed everybody that buying local might be a good idea after all.
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u/RatInaMaze 13h ago
Half of us did.
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u/bleu_flp 13h ago
Not even close to half, about a third of eligible voters or a quarter of the population. Factor in Elon being “good with the voting machines” like Trump said and who even knows who actually won, Republicans cheated in 2000 and got away with it so why wouldn’t they continue to
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u/Jackson-G-1 1h ago
He is about to destroy the wealth of billions of ppl around the globe. What a hero .. I still wake up and hope the tariffs move was just a nightmare 🫤
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u/Snapdragon_4U 13h ago edited 10h ago
He admitted today to purposely crashing the market. He’s gonna crash it and make sure we normal people are stretched as thin as possible. The billionaires though are fine and they’ll buy all the stock they can get their greedy hands on at fire sale prices. And then Trump will repeal the tariffs and the rich get richer.
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u/Lord_Vesuvius2020 11h ago
Trump is already saying he’s waiting for phenomenal offers from tariff countries and that he’s open to negotiation. So the shakedown has begun. Tariffs might be raised, lowered, eliminated for countries that pay him off. He can make the market go up and down at will. And this is the big problem for us. How can one invest when this corruption and uncertainty are on display every day?
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u/Quick_Step_1755 10h ago
Switch to overseas stocks? It's tough. This isn't a disease like covid where you can read about pandemics and have an idea how it will pan out. It's not a bubble pop like housing or dot com. It's someone unstable in power. Willing to make big changes but then reverse them without warning. The bottom could be Monday when he takes them all off, or 8 months from now, when he stops raising them.
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u/Fit_Fisherman_9840 4h ago
At the moment he gets a crashed economy like Argentina and Vietnam. It will be fun seeing the EU response, china one was already funny.
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u/DontBanMeBROH 7h ago
What’s changed? As of now I just have screen shots of losses.. but I’ve got plenty of those about bitcoin..
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u/kingOofgames 15h ago
MAGA and Republicans “Well Trump said he’s gonna undo everything Biden did, and that’s exactly what he’s doing. He has a plan trust him”
/s
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u/jbhoops25 13h ago
My MAGA Family “ we have to go through this and it’s going to take some time”
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u/slow_news_day 12h ago
That’s depressing
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u/jbhoops25 12h ago
Yah it’s funny that I never heard about any of this during his campaigning. Now all the sudden instead of lower prices they’re all willing to pay more and lose retirement funds lol make it make sense
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u/RayWhelans 10h ago
It’s the price we must pay to preserve the competitive sanctity of middle school girls soccer in Pennsylvania.
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u/Quick_Step_1755 10h ago
No thank you, I want my retirement back. Those girls can lose every game to bearded men in tights for all I care. The needs of the many and all that.
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u/NeoMaxiZoomDweebean 10h ago
It must be nice to be a MAGA. Just turn your brain off and believe anything Fox and Trump tell you.
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u/DrSpacecasePhD 10h ago
What get me is, they have stickers about gas prices about coined the term 'Bidenomics.' So OK, this is Trumponomics... no healthcare plan, crashing stocks, canceled the Chips Act so we won't have chip manufacturing jobs here, laid of thousands of scientists at NASA, NIH, and NOAA, and now we're bragging because "jobs numbers we're better than expected" (i.e. unemployment only went up a little bit not a shitton yet).
Suppose we give the benefit of the doubt... how long do those of us holding long, perhaps with some student loans or other debt to pay off in the meantime, have to wait or give up and go insolvent? Trump supporters, anyone want to tell me? I'm just a moron with a math-based PhD whose company has had millions in federal contracts held up to change DEI language... spell it out for a degen like me.
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u/Western-Main4578 13h ago
Ask them what the plan is
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u/NeoMaxiZoomDweebean 10h ago
“Oh you think you know more?! You think its ok to let in all these illegals…”
And we are off….
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u/Cultural_Ad7023 8h ago
Eff that. I only trust God. MAGA’s who still support this are feeble minded, cult members. I mean, you have to be right? How do you rationalize this? Insane.
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u/Estalicus 13h ago
Great Depression stocks didnt bottom out in one crash. Yall aint prepared for whats been unleashed.
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u/SuperDerpfake 6h ago
Time to get you kids into building sneakers! Fucking little free loaders!
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u/Fit_Fisherman_9840 4h ago
Children labour law are already been degraded in some states in the last years. Time to learn how meat processing work.
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u/reese-dewhat 2h ago
This is yet another dimension that MAGA don't understand. I work with one dude who was like "I can't wait for products to be made in the US again so I can't sleep sound knowing my kids aren't exposed to Chinese lead." And I'm like bro, there aren't going to be any regulations left to prevent your kids eating lead for breakfast lunch and dinner.
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u/kgal1298 9h ago
Well 2008 it took 17 months for it to drop 57%. Let's see if we can beat that record eh?
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u/National-Charity-435 13h ago
Why would Sleep Joe do this?
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u/heironymous123123 3h ago
I had the hardest belly laugh in a long while thanks to this. Thank you.
Wife and I are down 20k thanks to this fuckup. We were on vacation and was debating pulling everything into cash.
Almost feel like it's too late now. May just do it on Monday's open.
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u/National-Charity-435 22m ago
Teehee. Enjoy. Heard ICE briefly peeks at passports before you go through the CBP booths. Very doge.
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u/ThorLives 5h ago
Fun fact: the market crash of 1929 didn't stop crashing until 1932. Sometimes crashes happen over long periods of time.
Chart: https://www.federalreservehistory.org/-/media/images/essays/great_depression/crash_of_1929_2.jpg
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u/Altruistic_Drive_386 14h ago
naw, i want to see more
tank it more
treat it like tesla
the worse the decline, the louder people will get for change
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u/Crazy_Donkies 13h ago
Burn it down.
Trump is already saying he was given a bad economy. Trump will say it was fragile.
So I say, max pain.
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u/Snapdragon_4U 13h ago
I be careful what you wish for He admitted today to purposely crashing the market. He wants to crash it and make sure we normal people are stretched as this as possible. The billionaires though are fine and they’ll buy all the stock they can get their greedy hands on at fire sale prices. And then Trump will repeal the tariffs and the rich get richer.
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u/Unlikely_Sprinkles_7 12h ago
They need people poor enough to hit the fields and work the hard labor jobs. OH, and be thankful.
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u/SingularityCentral 11h ago
Get your skis out for Monday because we are going downhill on the steeps!
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u/Express_Fly_4553 9h ago
All the snow is melted. There are jagged rocks. We gonna die. We don't even have a helmet.
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u/XxHUNTINOxX 11h ago
Zoom out. Up 82% in the 5 year… 82%!!!! That is retarded. We are way too comfortable with thinking 20% gains per year is normal. There needs to be a correction
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u/migrantimgurian 9h ago
Steady growth is actually what you can expect with globalization on the rise. This isn’t a correction it’s man made interference.
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u/Reasonable_Base9537 13h ago
It's pretty bad but I have faith it'll get worse.
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u/ralphy1010 10h ago
market takes a shit, goes down 30% and then it's a crab party the next 3 or 4 years
Good times
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u/the_bedelgeuse 8h ago
Buffet sitting on cash was the signal. But i'm very smooth so I just hold the only idiosyncratic risk SEC says poses a threat to the financial system, which happened to close up near 11% today.
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u/yldf 5h ago
I am relaxed. I have - in the investment part of my portfolio - some cash I haven’t been investing because the market felt overheated and Americans elected the orange idiot again. In the past, stocks went up eventually, and after the recent 20% drop I put 10% of my uninvested cash into indices. If it recovers now, I am happy, if not, I will just average down…
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u/MortarionDG 4h ago
i remember when the dow was 20k.. those were the 90. america was cool back then. home alone 1. the plaza hotel. I get it now. We going back to the 90s.
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u/Due-System7508 10h ago
Yup if people vote for Kamala, you don’t have to worry about this bs. Oh well smh 🤦 I guess people will vote for Trump in 2028 again? Hahah
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u/DivorcedGremlin1989 10h ago edited 10h ago
Trump is saying 'there are methods' regarding running for a 3rd term. It has 'we have ways of making you talk' energy. They are 2 pussy to just open term limits up and want to apply this weird criteria where the max is 3 terms, but 2 if you did consecutive terms.
So, like, a way of specifically only letting Trump serve a 3rd term, given that only 1 guy has ever successfully won reelection for a non-consecutive term in US history, and only 1 person has even attempted a non-consecutive term since term limits were introduced.
So unless Jimmy Carter is reanimated, they are really just angling to get only Trump a 3rd term, and this scenario may never happen again. But that gives them time to think about term #4.
They keep making these arguments that sound a lot like appeals to natural law and are starting to sound like the divine right of kings. . .
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u/barkingatbacon 11h ago
Make everyone poor—>civil unrest—>martial law—>forever president.
This is what you all voted for. It’s just project 2025. Told you so.
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u/DangleWho 9h ago
Wait until the retaliation tarrifs and other countries not wanting to buy anything american. The floor is bottomless lmao
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u/GooseDaPlaymaker 9h ago
You voted for it…congrats! This was the price for the abolishment of DEI! 🫡
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u/apishforamc 9h ago
This Is the fuck around..we are about to find out what the depression era of the 1930s we read about in high school is all about.. Kind regards, Gloom Merchant
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u/9999999910 12h ago edited 12h ago
The culture war didn’t help. Anyone who’s got that shit in their face every day is a wildcard when it comes to voting. It’s downright traumatizing to be passively and sometimes actively attacked for a list of grievances you have nothing to do with.
A return to sanity probably needs to include a reversal or reframing of that trend. I think the sea of people who were completely swept up in the fashionization of social justice anger are the world’s biggest group of useful idiots.
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u/Silly_Ad_5993 14h ago
Pornhubs still free 🤷♀️
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u/slowtdi 14h ago
It's Canadian
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u/Silly_Ad_5993 13h ago
Time for a paywall than….back to lookin’ at your cousin Kentucky.
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u/slowtdi 13h ago
Pornhub has allegedly blocked 12ish states over women's rights issues.. Kentucky might be on the list lol.
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u/sylva748 11h ago
As someone who's moved from California to Florida to be closer to SO's family. It is indeed blocked. Get a little page with a video detailing in 1st grade language how it because people voted in an administration that blocked porn. I can attest it is not blocked in California. Just red state things.
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u/Cultural_Ad7023 8h ago
Does maga still support this? How do they rationalize this?
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u/bredelund 6h ago
They will never! Trump works in mysterious ways for them. He will stay there religious supreme being! And everything bad happening is somehow Biden or Obamas fault
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u/opp0rtunist 4h ago
It turns out transgender people weren't an actual problem and Trump ruined america? Shocker
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u/Betsey23 12h ago
Why don’t you zoom out a little bit bud?
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u/NeoMaxiZoomDweebean 10h ago
Why stop there? Why not zoom out to the paleolithic era?!
Braindead take.
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u/AdministrationTop920 8h ago
need to zoom out more from this graphs.. don’t panic
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u/Diligent-Property491 4h ago
Even of you zoom out, you’ll see that this drop was bigger than the dotcom bubbble, coving and the 2008 crash
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u/Positive-Feed-4510 13h ago
You think the pussies in congress will even make an attempt to put a stop to this?
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u/sunburstswede 5h ago
All of them, both sides of the aisle, know how to play this. Trump is all congresspeople’s ringleader. They won’t stop him because they are gonna personally benefit off of this. 😔
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u/Infamous-Train8993 13h ago
Wait you guys really bet on the stock market ?
I thought everyone was like me, coming here for the memes.
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u/Pantalaimon_II 12h ago
working theory: Thomas Matthew Crooks was from the future
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u/Mimir_the_Younger 12h ago
I think there’s something wrong with your chart. It’s not supposed to look like that.
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u/yeledbetter 11h ago
Some strange part of me thinks maybe he knows what he is doing. Then I punch myself in the face.
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u/altapowpow 7h ago
25,000 is the bottom..
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u/CONTINUUM7 4h ago
Hmmm Bear market meaning -50%. So... 45000/2= 22500 bottom. But, could be 20000.
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u/jolllyroger027 7h ago
We've been doomed for decades. This is the cycle. Tough times create great people, great people make easy times. Easy times make shitty humans. Shitty humans create hard times.... welcome to the end of the cycle.
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u/TallQuiet1458 1h ago
So we are at levels we were at a year ago....... wtf are you complaining about?
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u/Fluffy-Structure-368 20m ago
Dow is at same level as 1 year ago. One year ago were you thinking we're doomed?
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u/bullish1110 16m ago
Biden’s economy there was a certainty of Powell mitigating risk. Trumps there’s just a lot of uncertainty and more uncertainty is going to come given the tariff effects haven’t showed up. Regardless the indexes and equities have been over valued unfortunately. This was going to happen it just needed an event. If your not trading 0DTE or futures this for you is probably the worst or looks really bad.
Theres two things you can wait for the stock market recession to hit which it will, and start buying equities like a mad man or complain. Regardless whether 4-5 years from now market will find a bottom to recuperate.
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u/DiagCarFix 9m ago
normal to stable tariff.
this is nothing.
this will be better in long term for global market.
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u/Zealousdaddi 9h ago
A republican should never be elected President ever again. Make them all gay as punishment.
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u/prolificbreather 15h ago
Still plenty of cliff left to fall off.