Trump's Tariff Tantrum: $3.1 Trillion Wiped Out, Recession Looms!

2025-04-04 12:00:17.889

Donald Trump's sweeping 10 percent tariffs on most countries (excluding Russia) have sent shockwaves through the global economy. Wall Street experienced its largest one-day decline since the Covid pandemic, with a $3.1 trillion loss in market value. The Dow Jones Industrial Average plummeted 4 percent, the S&P 500 fell 4.8 percent, and the Nasdaq dipped 6 percent. JPMorgan Chase increased its prediction of a global recession in 2025 to 60 percent. China retaliated with 34 percent tariffs on all US goods. Analysts warn of potential iPhone price hikes exceeding 40 percent due to tariffs on Chinese-made components. Amidst the economic turmoil, Trump declared the situation "going very well." In other news, Trump expressed support for Marine Le Pen, and reportedly fired several National Security Council staff members following a meeting with Laura Loomer.