Thanks to Trump’s new tariffs, terrible things are happening right now in Sunday night stock market futures trading
On Friday, Donald Trump sent the stock market plummeting by making the deranged assertion that his own handpicked Fed Chair Jay Powell was an enemy of the United States. After the market closed down more than 600 points, Trump announced even more tariffs on Chinese goods, because, well, he’s nuts. Now we’re already seeing negative results.
Investors didn’t get a chance to respond to Donald Trump’s latest tariffs on Friday because he announced them after the closing bell. But now that Sunday night “futures” trading is in effect, we’re seeing precisely what investors think of Trump’s economic prowess. At this moment the Dow Futures are down around 160 points (update: now down more than 210 points as of 9pm eastern time).
That number can still change as the night goes on, and even if it remains in the negative when the market opens tomorrow, it’s not a guarantee that the market will end the day in the negative. Bottom line: don’t take stock market investing advice from us. But the cold hard reality is that as investors are getting their first opportunity to tell us what they think of Trump’s new tariffs, the response is overwhelmingly negative.
Donald Trump posted this tweet tonight: “My Stock Market gains must be judged from the day after the Election, November 9, 2016, where the Market went up big after the win, and because of the win. Had my opponent won, CRASH!” That’s cute, but the Dow Jones is down a thousand points from where it was a year and a half ago, and that’s all on Trump. Also, no rational person believes that the market would have somehow crashed if Hillary Clinton had taken office. Trump is grasping at straws – and there are probably now tariffs on the straws.
