Here comes Donald Trump’s stock market disaster
It looks like it’s about to happen yet again. On Thursday afternoon, Donald Trump announced on Twitter that he was slapping even more tariffs onto Chinese goods, in the latest losing chapter of his failed trade war. Everyone on Wall Street knows that tariffs are a lose-lose proposition, so the Dow Jones Industrial average promptly lost roughly five hundred points within a few hours. Now it’s set for another big tumble tomorrow.
The DJIA took something of a breather on Friday when it dropped a mere 98 points for the day. But the market is setting itself up for a potentially ugly day on Monday, as Dow Futures are down nearly three hundred points at the time of publication of this article. There’s still time for that to reverse itself. But if the trend keeps up, it’ll result in the DJIA suffering a terrible opening on Monday morning.
The thing is, it’s not just the tariffs. Investors hate it when the government does something to screw with profitability and overall economic viability, and tariffs certainly qualify. But investors also dislike political instability in general. They’ve been overlooking Donald Trump’s erratic and unstable nature because the ongoing booming Obama economy has been too good to pass up.
But with Donald Trump’s racist antics now having resulted in a mass shooting on the part of a white supremacist whose rhetoric was hauntingly similar to Trump’s own rhetoric, and most of the nation laying the blame at Trump’s feet, investors know where this is headed. American democracy has been increasingly unstable since Trump illegitimately took office, and now it’s about to become even more untenable. No wonder the stock market is finally caving.
