Last week, you may have heard about President Trump announcing sweeping new tariffs. With the help of a dumb-looking chart, the president stated there would be a minimum-10-percent tariff on all foreign goods with many of our largest trading partners being taxed at a much higher rate. Obviously, the stock market does not respond well to the threat of a global trade war.
According to CNBC, Trump’s genius plan sent the market into a tailspin with the broad market index dropping 5 percent, the Dow Jones Industrial Average falling 1,630 points, and the NASDAQ plunging almost 6 percent. What does that mean? Well, the lines on the screens are going straight down, and all the graphs are bright red, which I think means “bad.”
I’m no financial expert, but this seems to be terrible, especially given the fact that Trump ran on the promise of fixing the economy. However, as always happens when our country faces total catastrophe, the posts are getting really good. Now is not a good time to check on your retirement account, but it is a good time to briefly return to X, where people are posting like it’s still called Twitter.
We may be facing another depression, but at least we can always have a laugh.