Summary
U.S. stock futures dropped sharply Sunday night following last week’s historic $6.6 trillion market wipeout, as Trump’s aggressive new tariffs roiled global markets.
S&P 500 futures fell 2.8%, Nasdaq 3.7%, and Dow futures plunged 900 points. Asian markets tanked; Japan’s Nikkei dropped over 6%.
Trump defended the tariffs, calling them a “beautiful thing” and vowing to reverse trade deficits. China retaliated with 34% tariffs.
Analysts warned of a potential economic contraction, rising unemployment, and severe impact on tech. Critics urged Trump to reconsider or risk economic disaster.
Wallstreetbets is hilarious now. Not just the wild options trades, but the apocalyptic sentiment.
I am, um, deleting my portfolio app. Nope, not looking at that…