AI Summary:
Nasdaq 100 plunged 3.81 percent, its steepest single-day loss since September 2022. Asia stock markets piled on the losses on Tuesday morning, with Nikkei 225, Hang Seng and Taiwan’s TAIEX dropping 1.5-3 percent. US President Donald Trump declined to rule out the possibility of a recession this year. Trump last week slapped a 25 percent tariff on imports from Mexico and Canada and doubled the rate of duties on Chinese goods to 20 percent, only to announce two days later that he would postpone some duties on Mexican and Canadian goods until April 2. Goldman Sachs economists last week raised its odds of a recession within the next 12 months. JPMorgan Chase has lifted the probability from 30 percent to 40 percent “owing to extreme US policies” Democratic Senator Elizabeth Warren accuses Trump of jeopar Kevin Hassett, the head of Trump’s National Economic Council, played down concerns about the health of the economy as blips in the data. He said the first quarter is going to squeak into the positive category, then the second quarter will take off as everybody sees the reality of the tax cuts.

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[–] TommySoda@lemmy.world 3 points 1 day ago

For most stocks we're really only back to where we were in October before he was elected and everyone got excited which caused everything to skyrocket. Some are a little lower, but nothing catastrophic yet. We'll only see the real crash when the trend continues into the next few weeks when everything starts getting lower. And when that happens, shit is gonna get real ugly.

[–] AgaveInMyAss@lemmy.world 2 points 1 day ago

Does that mean the price of eggs also went down?