The decline in March caps off the S&P 500’s worst quarter at the start of a president’s term since President Barack Obama took over in 2009 during the #financial crisis.
The benchmark is now down 8.7% from its mid-February peak, a downturn that is near a 10% “correction,” denting the values of portfolios & retirement funds across both Wall Street & Main Street. The tech-heavy Nasdaq, which has already slipped into a correction, ended the month down 8.2%
#Stocks Mark Worst Month in Years as #Trump’s Tariffs Loom
#Markets around the world have wavered as #fear & #uncertainty over #tariffs & trade wars rattle investors. The S&P 500 just recorded its worst month since 2022, shedding 5.8% in March.
#economy #Trumpcession #recession
https://www.nytimes.com/2025/03/30/business/stocks-nikkei-sp500.html?smid=nytcore-ios-share&referringSource=articleShare&sgrp=p&pvid=6A0E0CDF-535A-4F97-A793-7EC836C1BEC6
"The European Commission is considering a full shutdown of the EU market to American goods.
The EU Commission is preparing symmetrical measures with trade levies but does not rule out other trump cards, such as closing the EU market to certain US goods or services."
In record time, the #TrumpMusk regime is about to take the US into a recession.
#Tariffs #Inflation #Stagflation #Trumpcession #Economy #Resist #USPol
"Fascist Tyrant is Fascist Tyrant"
"But I'm White and Rich, isn't he for me?"
https://news.sky.com/story/trump-third-term-latest-tariffs-stock-market-musk-13209921
"Heart pounding, he called his father -shocked -Trump's admin would take such action.
“ .. ‘Dad, they're trying to bankrupt me.”
The Trump admin's cuts impact small farmers in WV where Trump won 70% of votes. #Trump cut $500M program for food banks to buy local produce. Fed funds
comprise ~1/3 of states' annual spending.
Mountaineer Food Bank was ending Yates' butter contract, due to the fed govt's funding cuts.
#Trumpcession #Austerity #Fascism #Resist #DOGE #USPol https://www.reuters.com/world/us/federal-funding-cuts-ripple-through-heart-trump-country-2025-03-29/
"If over a million people leave the US, the economy will shrink and tons of Americans will lose their jobs."
-AR Melnick
"Immigration Research IRI estimate: If all undocumented TPS humanitarian parole #Venezuelans, #Cubans, Nic. & #Haitians are deported
, the Florida economy will shrink, and 80,000 US-born workers may lose their jobs. That's just in Florida!"
-A Oppenheimer
#Cruelty #Sadism #Deportations #Immigrants #DHS #Austerity #Trumpcession #Economy #Resist #USPol
https://www.miamiherald.com/news/local/news-columns-blogs/andres-oppenheimer/article302787889.html
#Oil has yo-yoed both on supply-&-demand issues but also the #MiddleEast ceasefires between #Israel & #Hamas & #Hezbollah that already look under threat.
Q2 doesn't look like it is going to get any easier on the whole.
#Trump will be detailing his grand #global #tariff plan he has dubbed ‘liberation day' on Wednesday. For investors, the big question is whether it will end up triggering #recessions.
#Bitcoin has been volatile as usual. It raced up almost 20% when #Trump took office, only to dive nearly 30% when his plans for a #US #cryptocurrency reserve failed to impress.
And if you think that's bad just look at #Musk’s #Tesla share price versus its main rival #BYD since inauguration day. Ouch.
At the bottom of the FX pile are #Turkey's #lira & the #Indonesian #rupiah. The former is down nearly 7%, much of it after #Erdogan's main political rival was detained last week.
The rupiah, meanwhile, has hit its lowest since the 1998 Asian financial crisis amid worries about #Jakarta's finances & that it is sliding back towards #military domination.
"The #dollar view has unravelled very quickly this year," said State Street Global Markets' Michael Metcalfe. "I think there has been an element of take what was said at the start of the year & just flip it."
Just as jarring, the 'Magnificent Seven' #US #tech giants have been hit for 6. They have been a cash cow for portfolios for years but have shed nearly $2T & been left for dust by #Chinese rivals & #Europe's defense firms.
Markets in Q1: #ETTTTS
Whereas the major risk back in Jan was that #Trump's 'America first' policies would push #inflation back up & prevent #US interest rate cuts, now the most important risk is #recession risk.
That has spun the $140T global bond #market 180°.
#Gold, the ultimate safe port in a storm, has had its best quarter since 1986 due to Trump's #TradeWar & the #dollar is flirting w/its worst start to a year since the 2008 global bust.
#economy #trumpcession
https://www.reuters.com/markets/us/global-markets-q1-analysis-pix-2025-03-30/
Saying the quiet part out loud
#Trump tells NBC he “couldn't care less” if #car makers hike #prices due to #tariffs
Trump has been preparing to impose new tariffs on a range of #consumer goods on April 2, a move that has drawn criticism from international leaders & concerns about potential price increases for #consumers.
#economy #Trumpcession
https://www.reuters.com/world/us/trump-tells-nbc-he-couldnt-care-less-if-car-makers-hike-prices-due-tariffs-2025-03-30/
“Trump’s actions seem designed to drive the U.S. economy into the ground. This would truly be a Trumpcession.”
Turns out the orange fascist moron isn't the great economic guru he pretended to be, what a fucking surprise.
Nearly all of the replacement parts on the shelves inside Fred Billeh's Warehouse in Chicago came from the countries facing new #tariffs. He estimates his warehouse carries "millions" of parts.
The INSUR Information Institute had already forecast premium increases this year of about 7%, & that was before the new tariffs.
"The impact of the tariffs will create a "ripple" effect, with tariffs today being felt in 12 to 18 months.
#Inflation #Trumpcession #Economy #USPol https://www.cbsnews.com/news/trumps-tariffs-will-raise-car-insurance-rates-experts-say/
"US Consumer Spending Barely Rises, Key Inflation Gauge Picks Up."
#Trumpcession #Stagflation #Economy #Tariffs #Privatization #USPol
#Trump's newly announced 25% import #tariffs on foreign #cars will increase vehicle prices by thousands of dollars for cars coming from Germany, Japan, & South Korea, as well as for the US assembled autos that use foreign-made parts, acc/to most auto industry experts.
However, one company likely to fare better is #Tesla, the electric vehicle manufacturer led by close Trump administration adviser #ElonMusk, industry analysts say.
#broligarchy #kleptocracy #trumpcession
https://www.npr.org/2025/03/27/nx-s1-5342456/tariffs-tesla-imports-musk-trump
As #Trump announces his #tariffs, his admin is also working with #Republicans on a package to extend his expiring #TaxCuts for #corporations & #wealthy individuals. Trump said Wednesday he was still pushing for a deduction for auto loan interest “but only if the car is made in America.”
"Other Fox personalities have been warning of a downturn or a recession. Meanwhile, a new NBC poll finds Trump’s approval on the economy is sinking. Yet he’s forging ahead with his tariffs and rarely bothers talking about the economy anymore."
#Musk #Trump #economy #tariffs #Trumpcession #stagflation #PriceofEggs #FoxNews
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