In response to his tax reforms, US President Donald Trump on Monday argued that America may have done something decades ago and warned against being weak and foolish.
These remarks were made just before the New York stock market crashed, when the S&, P 500 opened 3.2 % lower.
” There is a possibility for the United States to accomplish something that was necessary for years.” Don’t get a poor man! Don’t get foolish! Don’t be a PANICAN ( A new party based on Weak and Stupid people! ). Be courageous, calm, and strong, and you’ll see results in glory”! Trump stated in a statement on Truth Social.
US stock fell dramatically.
On Monday, US stock markets jumped into the world market downturn. At 9: 38 AM Midnight, S&, P 500 was trading at 4, 870.94, over 203 positions or 4 %. Nasdaq was at 14, 894.10, over 694 items or 4.45 %. S&, P 500 experienced its worst performance since the COVID-induced financial crises in March 2020. The Dow Jones Industrial Average dropped by a whopping 1,200 items.
S&, P 500 index future dropped 2.7 % during intraday dealing, while the markets in Europe and Asia experienced sharp falls. By the end of the previous year, the index had fallen 17.4 % from its February top. A drop of 20 % or more from a new top is generally categorized as a bear industry, according to an AP report from business analysts.
Crude oil prices continued to decline, eventually dropping below$ 60 per barrel and reaching levels not seen since 2021. Dow Jones Industrial Average futures dropped by 2.4 %, while Nasdaq futures dropped by 3 %. Trump reaffirmed his stance on bilateral tariffs with partner nations on Sunday, saying he did not discuss unless this problem was resolved.
