CNBC number Jim Cramer predicted a 1987-like’ Black Monday ‘ getting week because of the levies Donald Trump imposed on places. ” If the president doesn’t try to reach out and reward these countries and companies that play by the rules, then the 1987 scenario… the one where we went down three days and then down 22 % on Monday, has the most cogency. We will not have to wait too long to hear. We may know it by Monday”, Cramer said.
” It’s hard to establish a new, weaker, world get on the fly. Frantically trying to do it but don’t see anything but that takes the October 87 incident off the table however. Those who bottom-fished are sleeping with the animals …so way,’ Cramer posted on X
The industry body shower continued for two consecutive days on Thursday and Friday after Trump’s tax statement on Wednesday. Dow Jones Industrial Average plummeted by more than 2, 200 items after China unveiled thick punitive taxes to President Trump’s levies. The Dow tanked 2, 231 items — a moment after suffering a 1, 679-point cut, its past worst treatment since the start of the COVID-19 crisis in 2020.
On Friday, the tech-heavy Nasdaq plummeted by 962.82 points, or 5.8 %, while the broad-based S&, P 500 was down 322.44 points, or 5.97 %.
China’s overseas ministry slammed the United States for using tariffs as a weapon for” intense pressure and self-interest,” saying US” financial bullying will eventually backfire.”” We do not get issue, nor do we worry it. Stress and risks are not the right ways to engage with China,” the foreign ministry said in a long speech today.
Trump maintained his position on tariffs and urged American to” hang challenging” as the taxes are not going to be simple. China and” many other countries, have treated us unsustainably hard,” Trump said, accusing them of using the United States as a” whipping post, “reiterating his justification for the taxes as he has accused additional nations of” taking benefits” of the United States.
