US stocks were sharply lower Friday as investors digested souring consumer sentiment and inflation data that showed an uptick in one of the Federal Reserve’s key gauges, underscoring the delicate state of the economy as businesses brace for President Donald Trump’s tariffs.
The Dow tumbled 750 points, or 1.77%, on Friday. The broader S&P 500 fell 2.1% and the Nasdaq Composite slid 2.8%.
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Wall Street was also grappling with Trump’s announcement on Wednesday of 25% tariffs on all cars shipped into the US, set to go into effect April 3. Trump also announced tariffs on car parts like engines and transmissions, set to take effect “no later than May 3,” according to the proclamation he signed.
Fascism ultimately tanks any system because it prices loyalty above all else and you inevitably end up without any compitent people in charge.
Yeah, for sure, fascist regimes have a pretty short shelf-life in general because of cronyism and incompetence. I’m just saying there’s nothing inherent to fascism that should be tanking the economy right now in the way, say, a communist revolution would by causing capital flight. If he wasn’t pushing the worst, most unnecessary trade war in history, Trump could have a strong economy right now.