It is a rarity indeed for me to really cover the stock market. For me, this was always a measure of how elites in the United States (and other western countries) are doing, and not really much of an indicator of how average people are doing.
That said, we all remember how Trump repeatedly and stubbornly pointed to the success of the stock market as proof of how good the economy was during his first term. The days of bragging about how solid the stock market is doing under his presidency are over, at least for the time being. Since he assumed power again back in January, the stock market has absolutely tanked. Despite his own apparent lack of accountability, all of the evidence points to Trump's own economic approach and policies. Today, the crash of the stock market was obviously a response to Trump's tariffs.
Let us remember that this new global trade war was started by Trump's United States. There is a reason why this did not happen under Joe Biden or Barack Obama or anyone else. All of this is the doing of one man. And that one man - a self-proclaimed "very stable genius" - is sitting in the Oval Office today. And the stock market has been tanking pretty much ever since this man got back the White House. Let's be absolutely clear on that, and clear that he is the reason why it is tanking.
How bad was the stock market today, as a reaction to Trump's tariffs and the economic war that he is waging on the world?
Here is one short summary, according to an article about it by the Wall Street Journal earlier today:
Major stock indexes dropped as much as 6% on Thursday. Stocks lost roughly $3.1 trillion in market value, their largest one-day decline since March 2020. Stock-index futures continued to drift lower Thursday evening.
Yikes.
Here's yet another indicated of just how bad things were earlier today, using one of the biggest cheerleaders of Trump & his MAGA cult following as an example, according to an article by Yelena Mandenberg of the Irish Star:
It appears as though FOX News removed their DOW ticker as it dropped 1,228 points today, following President Donald Trump's tariff announcements.
Double Yikes!
Things got so bad that FOX News, that self-proclaimed provider of "fair and balanced" news - but who a little less than two years ago lost a major court case and was forced to pay over three-quarters of a billion dollars for misleading the public over lies regarding the 2020 election (the link to that story can be seen below, as well) - pulled their DOW ticker once it became clear that it was just bad news and highly unflattering to Trump and his unprovoked tariffs.
Remember how Trump promised that once he would be president, the United States would just win and win to such an extent that we Americans would get tired of winning?
Are we winning yet?
Or did he confirm my own suspicions that he simply mispronounced and/or misspelled "whining"?
Again, I am hardly an economics expert. Very rarely do I ever mention the stock market on this blog. Today, however, I am mentioning it, since it is obviously a major story, and particularly because Trump always seems to insist that the stock market is the measure by which his economic successes as president can truly be measured. If that is true when the markets did apparently respond favorably, then it also should be true when the stock markets go the exact opposite direction while he is in charge, right?
And remember, the last time that the stock market crashed this badly was over five years ago. Donald Trump was in the White House back then, as well. And in part, his dismantling of the White House Pandemic Team, as well as his mishandling of the coronavirus pandemic, was a part of why the stock market crashed then, too.
So much winning.
Indeed, let's hope that his cult following really has the sense and is ready to go down on their knees and beg him to put a stop to all of this.
But I wouldn't put too much stock in that possibility. Or in the Trump presidency, for that matter.
Below are the news sources which I used in obtaining the specific information - as well as specific summaries directly taken from these articles for perspective - used in the above blog entry:
Trump Tariffs Send Dow to 1600-Point Decline, Dollar Slumps White House increases China tariffs, also levies big charges on EU, Japan and other trading partners Last Updated: April 3, 2025 at 9:53 PM EDT
https://www.wsj.com/livecoverage/trump-tariffs-trade-war-stock-market-04-03-2025
Fox News removes their Dow ticker as stocks crater from Trump's new tariffs byYelena Mandenberg, April 3 2025:
News appears to have removed their DOW ticker in a pattern for the company, choosing to block out the steep drop in DOW points after Trump's tariff announcement
https://www.irishstar.com/news/us-news/fox-news-removes-dow-ticker-34990910
Fox, Dominion reach $787M settlement over election claims By DAVID BAUDER, Randall Chase and GEOFF MULVIHILL, April 18, 2023
https://apnews.com/article/fox-news-dominion-lawsuit-trial-trump-2020-0ac71f75acfacc52ea80b3e747fb0afe
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