Summary

As the stock market plunged Monday due to Trump’s trade wars, he spent the day posting on Truth Social.

The Nasdaq fell 4%, its worst drop since 2022, while the S&P 500 lost nearly 3%. Major tech stocks, including Tesla, saw significant losses.

Trump posted over 100 times, endorsing his tariffs despite investor panic. A White House official dismissed the sell-off as irrational fear.

Commerce Secretary Howard Lutnick insisted a recession is unlikely. Trump avoided a clear recession prediction, calling the economy’s shift a “transition.”

  • TransplantedSconie@lemm.ee
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    19 hours ago

    “Look, this cliff we’ve intentionally drove off is nothing! The fact that we are plunging 300 feet straight down is an irrational fear you’ll all have to get over. pulls out unwrapped, slightly used Worthers Candy, anyone?” - Howard Lutnick.

    • mrbutterscotch@feddit.org
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      19 hours ago

      We have literally arrived at 1984 levels of lies and delusion, it’s incredible. And all the MAGA’s are willingly falling for it…

      • MataVatnik@lemmy.world
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        17 hours ago

        They spent the last ten years yelling 1984, I thought they were criticizing it, I didn’t realize that they were actually chanting what they wanted.

    • ddh@lemmy.sdf.org
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      17 hours ago

      Biden’s Cliff was there for four years, he should have done something about it!

      Edit: damn, forgot the /s…

        • YarHarSuperstar@lemmy.world
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          15 hours ago

          I know you’re joking (and it’s funny) but this is maybe true in a way (not exactly a “thanks Obama” way to me because i doubt he could have expected this insane timeline) if you’re talking about how he made fun of 45 at the White House Correspondents Dinner which is speculated by some to have been a key moment in what happened to ultimately end up with 45’s having become president and leading to all this. I don’t really believe this is as important as some say, in my opinion it may have accelerated what was likely to happen already (end stage capitalism (🤞, sort of))