Despite President Trump’s surprising reversal on tariffs, U.S. stocks took a nosedive back into the red. The confusion and threats surrounding Trump’s trade war with China are causing major turmoil in the economy.
Trump’s focus on China, NEW 145% as of today, has led to tariffs on their products skyrocketing. Even if negotiations bring that down to 50%, and other countries only face 10% tariffs, the U.S. economy is still at risk of stunted growth and decreased corporate profits. And of course higher consumer prices for us non-billionaires.
Francis Lun, CEO of Geo Securities, summed it up perfectly: “With Donald Trump, it’s like playing a game of roulette. You never know what’s coming next.” The market is drowning in uncertainty, and the looming threat of recession is far from fading.
The news of China planning to cut back on imported U.S. films hit the entertainment industry hard. Warner Brothers Discovery saw a 13.1% drop in stock prices, while Disney took a 6.7% hit.
In this chaotic environment, thanks Trump, how are investors supposed to make sound decisions? It’s like trying to navigate a minefield blindfolded. Good luck out there! Your 401 is losing money by the hour!
Blue Press Journal 