Summary
Markets tumbled after Trump’s sweeping tariff announcement, with S&P 500 futures dropping 3.5%, Nasdaq 100 down over 4.3%, and Dow futures falling 1,000 points.
Analysts called the tariffs “worse than the worst case scenario.” Major companies like Apple, Amazon, and Nike saw stock declines up to 7%.
Retailers reliant on imports, like Five Below and Dollar Tree, plunged more than 11%.
Goldman Sachs warned tariffs could raise foreign car prices by $15,000. Treasury Secretary Scott Bessent dismissed after-hours moves, blaming volatility over policy concerns.
I think you underestimate the news cycle and how forgetful people are. If Trump suddenly became friendly, there’d be politicians all over the world “breathing a sigh of relief” and saying “things are back to normal”. They love the status quo.