President Trump announced sweeping new tariffs on Wednesday. With the help of a dumb-looking chart, the president stated there would be a minimum-10-percent tariff on all foreign goods with many of our largest trading partners being taxed at a much higher rate. Obviously, the stock market does not respond well to the threat of a global trade war.
According to CNBC, Trump’s genius plan sent the market into a tailspin with the broad market index dropping 5 percent, the Dow Jones Industrial Average falling 1,630 points, and the NASDAQ plunging almost 6 percent. What does that mean? Well, the lines on the screens are going straight down, and all the graphs are bright red, which I think means “bad.”
