Connect with us

NEWS

Stock Market Plummets After Trump Declares Himself ‘Tarrif Man’ And Threatens China In Bonkers Tweet

Stock markets took a sudden and dramatic turn on Tuesday, dropping over 800 points over concerns of a slowing economy and president Donald Trump’s erratic trade moves.

The Dow Jones Industrial Average sinking as low as 800 points (3 percent), it’s largest plunge since October. The S&P 500 was down 63 points, or 2.3 percent, according to CNN.

The plunge occurred as the yield curve flattened, and looked at risk of inverting, in what is considered a common early indicator of recessions.

The markets were stabled on Monday, but the mood on trade soured on Tuesday after President Trump declared himself “a tarrif man” in a bizarre tweetstorm threatening to slap more tariffs on China.

Economists said they expect a recession in the coming two years, as the “sugar high” from the GOP tax cut wears off.


Don't miss the latest Political Digs. Sign up for our daily email:


Click to comment
Advertisement
Advertisement

More in NEWS