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News@lemmy.world · 1 month ago

Fear that Trump tariffs will spark recession wipes out more than $2 trillion in value from US stocks

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Fear that Trump tariffs will spark recession wipes out more than $2 trillion in value from US stocks

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News@lemmy.world · 1 month ago

Wall Street heavyweights take a drubbing, from airlines to Big Tech

U.S. companies were getting hammered again in the stock market Friday after China matched President Donald Trump’s tariffs in what is a rapidly escalating trade war.

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  These tariffs are a tax on the working class, which they will gladly pay.
  
  When taxes rise consumption falls. The wealthy live off the fat of consumption.

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